In today’s midweek update, we look at:
- Kuda, Africhange and the scramble for African diaspora money
- Nala raises $40 Million to fuel expansion in remittance and B2B payments
- Niger telecoms strengthens network with 16 new sites
Kuda, Africhange and the Scramble for African Diaspora Money
Africans in the diaspora often send money back home to support loved ones. But traditional remittance options can be a total drag—slow, expensive, and lacking transparency. This has opened the door for many African fintechs to stake their claim in the remittance market, and Kuda is one of the fintechs joining this space.
The Nigerian digital bank is expanding its global reach by launching a multi-currency digital wallet in Canada. This launch, expected in Q3 2024, comes after Kuda earlier secured a payment license in Canada.
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Last updated: December 25, 2024
