In 2024, we processed 334% more transactions than in 2023. We launched two more core products and expanded to three more African countries. We are closer to our vision of creating an Africa void of digital financial barriers.
Let’s Begin
In 2024, we processed 334% more transactions than in 2023. We launched two more core products and expanded to three more African countries. We are closer to our vision of creating an Africa void of digital financial barriers.
UPTIME
The slightest friction in user experience can cause churn. We recognise this, and that’s why we worked hard to maintain 99.9% uptime throughout the year—giving our merchants and their customers a best-in-class payment experience.
NEW MARKETS
In 2024, we enabled businesses to accept payments in ZAR through electronic fund transfers (EFTs) and started processing transactions for select merchants in Cameroon and Cote d'Ivoire. Both markets will open up to all merchants in Q1 2025.
In 2024, we extended our payout APIs to power unlimited bulk payouts. Our merchants in the logistics, payroll, gaming, and remittance verticals have used this to improve their business.
With Identity, you can build a secure onboarding process and reduce fraud. Create a seamless KYC and KYB verification experience for your customers, speeding up the process while keeping fraudsters out.
We built new mobile money APIs for our merchants to accept payments in Kenya and Ghana. With over 142 million mobile mobile accounts in both countries, we are helping our merchants expand their receivables coverage.
Payment links remain the fastest way to accept payments on Kora. This year, we cut down the creation time of payment links on the Kora dashboard by 200ms and optimised the payment page, making it possible for your customers to pay you faster.
While onboarding merchants, we noticed some needed help handling key business processes such as building a website or incorporating their businesses in new markets. We created the Kora Startup Kit to connect them to helpful partners and discounted tools.
We understand how cards can be a powerful retention tool for fintechs. So, we launched virtual USD debit card APIs to help merchants issue cards to their customers and corporate cards for their business payments.
We launched our Identity solution to help merchants verify customer IDs in Ghana, Nigeria, South Africa and Kenya against authoritative databases. Other African countries are coming soon.
Security breaches through phishing links are on the rise. We built the Progressive Web App (PWA) to make our merchant’s experience more secure and smoother.
Over 2% of the transactions we processed in 2024 were through Pay with Bank. So, we added OPay and Palmpay to the payment options this year, making it easier for merchants to accept payments.
We improved our chargeback and refund feature, adding more capabilities to handle chargebacks and making it easier for merchants to process refunds.
Webhook notifications help our merchants track their business transactions, so we made it easier for them to resend webhooks directly from their Kora dashboard.
We built this feature to help merchants add team members to their dashboards. In 2024, we allowed merchants to create roles and customise the permissions as they see fit.
In 2024, we built automated weekly reports delivered straight to merchant inboxes. This gives them historical insight into their transactions across pay-ins and payouts and the edge to improve profitability, optimise revenue and cut costs.
Venco helps gated communities across Africa manage resident payments. It’s one of the exciting use cases for embedded finance, signalling how fast non-financial products are adopting and providing financial services across Africa. With Kora, Venco serves over 18,000 residents across Nigeria, Ghana and Kenya.
Detail Africa creates affordable, quality fashion pieces using leather as a medium. With Kora, they overcame their biggest challenge with building a pan-African customer base – accepting payments in Ghana and Nigeria. Senegal and South Africa are next on their radar; we’ll be there for them.
Collecting payments for their first tournament was challenging for the UFC, Lagos Ultimate Frisbee team. The team used Kora to create a payment link, which made all the difference – they received payments seamlessly and built transparency with partners and sponsors.
More than removing financial barriers, we want to see Africa grow. We launched a N200 million naira endowment fund at Covenant University, supporting students in STEM fields over the next ten years.
The KoraHACK 2.0 saw 32 teams build innovative solutions to redesign payments in Africa. The winners received $2000 in prize money. Two teams have built out their MVPs with ongoing support from Kora for product development, deployment, and go-to-market.
For International Women’s Month 2024, we started BrACCE, a mentorship programme for women in technology careers.
Seventeen mentees connected with mentors at Kora to explore new ideas for building and growing high-impact tech careers. We look forward to the next cohort of BrACCE.
We started The Curve to promote inclusive tech education for all. This year, volunteers from the Kora engineering and product teams trained 109 students in tech skills, including product design, engineering, and product management.
We donated 20 computers and provided high-speed internet access to Adonai Vine School, a secondary school in Jos, Nigeria. This aligns with our CSR initiatives to support the growth of tech talents in Africa.
.png)
.png)
.png)
To appreciate our merchants, we invited them to spend Customer Appreciation Day with us. We took their feedback and discussed how to create more value for them.
We had over 100 founders and investors at the Afronaut to talk about VC funding in the African tech ecosystem
.png)
We worked with Panache Ventures, TechCabal and TC Insights to host an evening of networking for some founders and investors in Victoria Island, Lagos.
For the first edition of Sundown Sessions, we hosted founders, operators, and tech enthusiasts from top tech companies in Africa to discuss growth and expansion in Africa.
Join Kora’s experts as they explore the latest trends, disruptors, and innovations shaping the world of finance.
“One of the best things about our partnership with Kora is the affordability"
-James Olorunosebi. MyXalary Managing Director
Kora enables exciting African companies to accept payments and scale across Africa. MyXalary is a shining example of our success story. Dive deeper into their journey.
#allthesupportyouneed
"Linking to the Kora API was very easy for us. Funding customers' wallets used to be cumbersome; that process is faster now."
-Kevin Akatu, GIGL’s Deputy Director: Last Mile Operations.
Kora enables exciting African companies to accept payments and scale across Africa. GIG Logistics is a shining example of our success story. Dive deeper into their journey.
#allthesupportyouneed
“Kora is a seamless payment solution, that's the best way to describe them”
-Ifedolapo Lawal, Oystr Finance Co-founder.
Kora enables exciting African companies to accept payments and scale across Africa. Oystr Finance is a shining example of our success story. Dive deeper into their journey.
#allthesupportyouneed
Thank you very much for 2024, and we look forward to
doing bigger things in 2025.
