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Kuda Bank Introduces Loans for Salary Earners after Hitting New Record

By Oluchukwu Ikemefuna

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Kuda Bank has accomplished a remarkable milestone of 7 million customers. This fintech has achieved an impressive total transaction value of N55.8 trillion since starting operations in 2019. It’s fantastic to see how they’re expanding and offering new packages, like salary loans, to their customers. 

It’s great to see Kuda Bank thriving and providing valuable services to its customers. 

Babs Ogundeyi, the Group CEO of Kuda Bank, shared this exciting update and reflected on the challenges faced in 2023. He acknowledged the tough times experienced by many Nigerians and businesses due to cash crunch and financial struggles. Despite these difficulties, Kuda Bank managed to stay strong, thanks to their financial discipline and the trust of customers like you.

Kuda Bank List Of Achievements

According to Babs Ogundeyi, the CEO of Kuda Bank, Kuda Business has been a real lifesaver for Nigerian entrepreneurs during the cash crunch. They’ve laid a strong foundation for even bigger steps in 2024, which include exciting new credit features, loans for salary earners, and other services. Ogundeyi mentioned that this year, you can expect an all-round better Kuda experience. They’ve upgraded their technology, improved customer support, and introduced new credit options like loans for salary earners and an enhanced version of Kuda Overdraft for instant access to money when you need it.

But that’s not all! Kuda Bank also has plans to support businesses. Entrepreneurs can now apply for a Kuda POS terminal with flexible payment options to help them generate the revenue they need to keep their businesses running smoothly. The terminals have already been successfully piloted at various trade fairs in Lagos, so they’re confident it will make a positive impact on SMEs across the country.

It’s great to see Kuda Bank going above and beyond to support Nigerian entrepreneurs and businesses. 

Read more about Kuda’s Milestone of 7 Million Customers

Effect on Nigerian Markets

This fintech firm has also been making waves in the Nigerian fintech scene by shaking up the market and enhancing banking apps that can go toe-to-toe with traditional banks. While some customers, especially the younger ones, have voiced concerns about occasional downtime, the bank has shown remarkable resilience. They’ve managed to carve out a growth trajectory and establish themselves as a strong player in the industry. It’s pretty impressive.

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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