African Fintech Kudi changes its name to Nomba

African Financial Technology Company has changed its name today Nomba it will transition into an omnichannel payments platform that provides tools for businesses to grow.

The company’s services have been expanded to offer easy-to-use tools that allow businesses to accept, process, manage and handle payments online and offline.

These tools will open up new opportunities for businesses of all sizes in Africa. They provide a way to get into the digital economy, and allow them to optimize operations.

This solution couldn’t have come at a better time. The small business sector in Nigeria accounts for 86 percent of Nigeria’s total workforce. According to the Small and Medium Enterprises Development Agency of Nigeria National Survey (SMEDAN), there are 41 million microbusinesses and 73,000 small and mid-sized enterprises.

But, payments in Nigeria’s retail industry are mostly offline. More than 25 million merchants have yet to accept digital payment.

Many retailers that accept digital payment are not able to connect with their customers across multiple channels and locations.

Businesses rely heavily on traditional financial service providers that do not offer the services they need. It will make your business more efficient and help you make more money.

Nomba allows underserved businesses to self-onboard in just five minutes. They can also order a fully-service integrated terminal and dashboard that will manage all of their payments, including cash, cards and transfers.

Nomba will expand the penetration of its POS terminals throughout the country over the next six month. This will give more businesses access technology that provides real-time monitoring of all transactions, no matter if they are a small business or a large corporation.

It plans to expand its product lines into invoicing, payroll management, and other tools that increase productivity for businesses.

To help drive the expansion of fintech, Jeffrey Williams, Vice President Business, was appointed, as well as ToluwaniIjogun, Vice President Brand, Marketing, and Communications.

Nomba is leveraging their knowledge and expertise to expand its reach across the country. It will ensure that more than 350,000 businesses have the right tools to manage their businesses smoothly by the end.

As VP, of Brand Marketing and Communications, Toluwani Ijogun will be responsible for brand strategy, including all consumer, business-to-business and partner marketing activities that advance the company’s goals.

She will also manage all internal and externe communications, insights and marketing capabilities as well as analytics. Toluwani brings with her over 15 years of experience managing premium brands such as Guaranty Trust Bank; GlaxoSmithKline Consumer Plc; Philips across West Africa; Eat N’ Go (owners of Domino’s Pizza and Coldstone Creamery franchise in Nigeria); FSDH Group and most recently as Senior Vice President: Brand and Marketing for Kuda Bank where she played a pivotal role in the company’s growth in the Nigerian market.

Jeffrey Williams-Edem has over 18 years experience in business development, sales, merchant acquisition, and digital payments. He is a multi-industry veteran.

Nomba is his second assignment as Vice President of Business. He came from Interswitch and played a key role in the creation and deployment of the first retail strategy in Nigeria for micro, small and mid-sized enterprises.

Jeffrey will oversee the creation and operation of the machinery necessary to drive revenue, market development, and business acquisition. He will be responsible for overseeing the sales, operations, and development of new products.

“Since our launch in 2017, our technology and insights have enabled merchants to earn and build successful businesses, transforming their own lives and that of others.

Today, financial institutions and fintechs have teamed up to create a favorable environment that allows them to map the future of payments.

Over the next five years, we will be leveraging these factors, as well as the experience and expertise Jeff and Tolu bring to deepen the penetration of digital payment solutions across the country, making payments easier for everyone,”Yinka Adewale is Nomba’s Chief Executive Officer.

Nomba’s journey began in 2017 with a chatbot to facilitate payments. It grew into a company with POS technology and partnerships with banks and other licensed financial institution that democratized access for merchants in Nigeria to banking products. This includes core banking solutions, such as opening savings account and loans.

Listed as a YCombinator Top Company, 2022, over 150,000 businesses can use the Nomba platform to conduct card, cash, or bank transfer transactions for their businesses and customers.

Nomba currently processes more than $16m per day across over 500,000 transactions, with an onboarding rate of more than 10,000 new businesses each month.

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