Kuda Bank plans to launch in Tanzania and Canada following a successful 2025

Kuda is set to launch its remittance services in Tanzania and Canada, following successful testing in both countries. The digital bank announced this update in a New Year’s message to its customers. This move marks Kuda’s expansion beyond Nigeria as it ventures into cross-border financial services.

The planned launches come as the fintech giant closed 2025 with strong transaction growth and wider usage across savings, payments, and credit products. The bank announced that it dedicated much of the previous year to enhancing its infrastructure, enabling faster international money transfers, particularly in markets where it already has operating licenses.

Kuda’s 2025 in numbers

Although no launch dates have been announced, the confirmation indicates that Tanzania and Canada are next in line as Kuda aims to serve Africans abroad and facilitate more frequent cross-border money transfers.

From Nigeria to new markets

The expansion is significant as Kuda transitions from a Nigerian digital bank to a financial platform for regional and diaspora customers. By entering markets like Tanzania and Canada, the digital bank positions itself closer to the substantial remittance flows in Africa.

For users, this could mean quicker and cheaper ways to send money internationally, especially for Africans living abroad who support their families back home. It also allows Kuda expand from local banking into global financial services without depending on third-party platforms.

CEO, Babs Ogundeyi

The shift indicates a growing trend of African fintechs exploring new markets due to increased local competition and the maturation of digital banking adoption.

Inside Kuda’s 2025 growth

Kuda is expanding into new markets following a year of high product usage. In 2025, customers made over ₦29 trillion in transactions on the platform. The bank also recorded more than 1 billion individual transactions, showing that more people rely on its services every day.

Savings activity crossed ₦656 billion, while customers used more than ₦125 billion in overdrafts during the year. The bank also paid out ₦797.6 million in interest to users and processed 154.9 million bill payments. Additionally, they offered ₦2 billion in free transfers.

Also read: Kuda Bank raises $55m Series B at a $500m valuation to drive its expansion outside Nigeria

These numbers suggest that its customer base is not only growing but also using the platform more deeply across payments, savings, and credit.

As the bank plans to expand into Tanzania and Canada, successful execution will be crucial. This involves obtaining regulatory approvals, forming local partnerships, and localizing products. If the expansion is successful, it could transform Kuda from being a digital bank focused on Nigeria into a cross-border financial institution serving users throughout Africa and in the diaspora.

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