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Kuda: Africa’s bank with zero fees on transfers and maintenance.

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Kuda is the first digital-only bank in Nigeria with a standalone license by Central Bank of Nigeria. Kuda was co-founded by Baba Ogundeyi and Musty Mustapha, a former Stanbic Bank software developer in 2018 and officially lauched in 2019.

The digital-only nature of Kuda Bank, implies that they don’t have or need a physical location to provide their banking services. All you need to bank with them is a smartphone and their app.

It’s important to note that, this digital-only bank is not a mobile wallet or simply a mobile app piggybacking on an existing bank. It is an actual bank, it is just a digital-only bank. Before becoming Kuda Bank, they were known as Kudimoney. 

Kuda Bank performs services like any other bank. It allows you to open an account, send money to other bank accounts, deposit money, save money, pay bills, purchase airtime and you can also see a full picture of your spending habits. Asides being a digital-only bank, Kuda Bank has positioned itself as a bank which doesn’t charge its customer’s unnecessary fees.

What do Kudi Bank offer?

Below are some awesome benefits kuda Bank offer their customers:

Fast and easy account opening process. You can open a bank account within five minutes.

Customers can do all the KYC in the app

They don’t charge unnecessary bank charges like card maintenance fees, account maintenance fees etc.

The bank’s debit card is free and comes 1 to 2 weeks after you open your account

They charge N10 when you send money unlike other banks which charge N52.50

The maximum amount you can send at once is N250, 000, while your maximum limit for a day is N1million if you have an upgraded account

You can use their debit cards at over 3000 ATMs in Nigeria.

Withdrawals are free.

How to open an account with Kuda Bank

  1. Go to your app store and download the app.
  2. Once the app is download, launch it
  3. You will be asked to register/ open an account. Information like your BVN, phone number, email address and picture( to verify your identity) and other basic information will be required.
  4. Once you have finished the registration process, you will be given your account number and you can start transacting

If you are an existing Kuda Bank customer you can also upgrade your account by yourself anytime. To upgrade your account you will need to add government-issued identity card.

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Fin-Tech

Lagos Angel Network appoints new board.

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The Lagos Angel Network (LAN) has named another Board of Governors (BoG) to direct its issues, viable from today October 1, 2021. 

As indicated by a LAN explanation, the new board, led by Kola Aina, General Partner at Ventures Platform, has the command to reposition the association with an emphasis on enrolling and teaching nearby private backers and advocating support for beginning phase putting resources into Nigeria. 

Different individuals from the BoG are Biola Alabi, author, Biola Alabi Media, who will sit as Deputy Chair of the BoG; Yemi Keri, prime supporter, Rising Tide Africa; Olumide Soyombo, fellow benefactor, Voltron Capital; Iyin Aboyeji, organizer, Future Africa; and Gerrad Olisa-Ashar, fellow benefactor, Diaspora Angel Network.

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Fin-Tech

PaySika secures funds to provide neobank services in francophone Africa

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PaySika, a monetary innovation startup creating versatile and online financial answers for French-speaking African nations, today declared that it has gotten a €300,000 ($348,000) pre-seed venture from private supporters in the French, London, and Nigerian tech startup space. 

Established in 2020 by Roger Nengwe and Stezen Bisselou, PaySika professes to be the principal business-to-client (B2C) neobank in the area that works with a chatbot on well known informing applications, including Facebook Messenger, WhatsApp, and Telegram. As per an organization articulation, this permits clients to do their exchanges as basic as sending a SMS. 

Regardless of the expansion of monetary administrations in Africa over the previous decade, there’s been a tirelessly underserved hole in the francophone part of the mainland. Over 80% of the populace in the area, or more than 120 million individuals, don’t approach bank administrations. 

With business banks for the most part centered around the best 10-20% richest clients, versatile cash arrangements from the district’s telcos and fintech new companies have been critical to stretching out admittance to monetary administrations. At present, over 60% of the populace utilize versatile wallets.

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Eden Life raises $1.4m to digitise house chores.

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Eden Life, a Nigeria-based startup digitizing home help for homes across Africa, has raised a seed round of $1.4 million to increase more portion of the overall industry, carrying its absolute venture to $2 million. 

The venture round was driven by LocalGlobe with cooperation from Africa-centered VCs, Future Africa, Samurai Incubate, Village Global, Rising Tide Africa and Enza Capital. 

Eden Life was established in 2019 by three ex-Andela staff members, Nadayar Enegesi, Prosper Otemuyiwa and Silm Momoh, on a $600,000 pre-seed round from loved ones, to target twenty to thirty year olds and Gen Zs who are too occupied to even consider shuffling house tasks with their positions, particularly those in the tech space.

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