Chief technology officer and co-founder of Kuda Technologies Limited, Mr. Musty Mustafa, has praised the federal government for its digital economy policy and said that it is a move on the right path.
According to The Times, Mr. Mustafa described fintech as a critical non-oil contributor to national socio-economic progress in an interview, asserting that cashless payment systems, supported by fintech and digital solutions providers like Kuda, are poised to have a substantial impact on Nigeria’s Gross Domestic Product.
“Fintech is essential in maximizing the effect of the cashless policy on the entire economy.
“Innovative solutions like Kuda make it easier for consumers to make payments and for businesses to collect payments efficiently by increasing accessibility and affordability. The Nigerian will gain from these beneficial cascade effects.”
Mr. Mustafa also emphasized the financial ecosystem of Nigeria’s transformation through the transformative potential of digital platforms and e-payment systems.
These developments provide quick access to capital for businesses, lower operating expenses, and improve customer transactional convenience, all of which support the expansion of the economy and the creation of new jobs.
Mr. Mustafa emphasized that while the nation’s traditional banking and financial ecosystem has benefited from the fintech sector’s tremendous expansion in Nigeria, which has seen entrepreneurs offering cutting-edge financial solutions.
He asked the government to create and put into effect legislation and programs that would help the business expand. Additionally, Mr. Mustafa promoted a strong credit system, bolstered cybersecurity safeguards, and improved financial literacy. He also called for ongoing cooperation between conventional banks and fintech.
Mustafa reaffirmed Kuda’s persistent dedication to making financial services accessible and cheap for all Africans in relation to the company’s contribution to Nigeria’s digital economy ecosystem.
“At Kuda, our mission is to ensure that every African, regardless of circumstance or geography, has access to financial services. We work hard every day to achieve this goal and provide retailers, customers, and enterprises simple, cost-effective digital solutions.”
Mr. Mustafa highlighted one such solution by introducing Kuda’s tailored business offering, “Kuda for Business,” which provides consumers, retailers, and small businesses with a range of digital solutions that promote growth and assist in achieving personal goals.
Additionally, he mentioned the recent release of a softPOS function on the Kuda Business platform, which enables small businesses to use their smartphones as payment terminals and facilitates easy transactions.
Mustafa emphasized Kuda’s continual investment in talent development, citing people as the most important resource for organizational success. He emphasized Kuda Connect, a program for finding and nurturing extraordinary talent through mentorship opportunities and future job offers.
“Investing in people and keeping the best employees are still Kuda’s top priorities. We are committed to acquiring the best talent while also investing in our current talent pool,” Mr. Mustafa said.