Nigerian Digital Bank, Kuda, Hits 1 Million Android App Downloads

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Kuda, the African digital bank based out of Nigeria, has revealed that its Android app has now been downloaded over 1 million times.

Kuda bank, which is fully licensed by the Central Bank of Nigeria as a microfinance institution, launched in 2019 as an alternative to brick-and-mortar banks.

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Kuda delivers free banking services through its Android, iOS, and web apps.

The massive growth in numbers comes from its strong digital offering appeal to Nigerian millennials driven by:

  • Connected smartphones
  • The bank’s proposition on zero fees on cards
  • Account maintenance and transfers

The appeal of Kuda also comes amidst a highly competitive finance market dominated by traditional incumbents making it a practical use case for digital banking adoption on the African continent.

According to Bradley Want, Head of Growth, Kuda:

“Our growth in Nigeria is remarkable no doubt but more importantly, it is an indication of what we can acheive in other markets across the world.” 

                      – Head of Growth, Kuda

A crypto-friendly bank, Kuda recently withdrew its services for crypto exchanges following the recent regulatory ban on all banks and financial institutions against running crypto-related accounts.

Despite this regulatory ban, Kuda Bank remains the best mobile-only digital bank for Nigerians.

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