In the Boardroom: Exclusive Insights from Babs Ogundeyi, Kuda Founder and Group CEO
About Babs Ogundeyi
Babs Ogundeyi, founder and group CEO of Kuda, has described the digital-only bank as a full-service financial institution focused on Africa, offering services such as P2P transfers, debit cards, and fractional shares. He has stated that the company's mission is to make financial services more accessible, affordable, and rewarding for Africans, and that Kuda has grown to over seven million customers, with 90% based in Nigeria. Ogundeyi has said that the company is shifting its focus from aggressive growth to operational stability and sustainability, including a greater emphasis on credit products for salary earners and expanding business banking offerings. Ogundeyi has commented on the broader tech ecosystem, predicting that 2024 would see fewer tech companies, ideally due to mergers and acquisitions rather than shutdowns)Skip. He has noted a shift in operator mindset toward profitability and sustainability, and has said that AI will be used for concrete use cases such as customer service to improve unit economics. Ogundeyi has also remarked that Nigeria's regulator has become more open to crypto, which he said would allow for greater innovation. He has stated that he does not focus on unicorn valuations, but rather on building a sustainable business that serves customers effectively.