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A university professor in Toronto, Canada signs in to a web application on his laptop, to transfer 300 CAD to his Aunt in Nigeria. A few minutes later, in Nsukka — a town in South-East Nigeria, Aunty Sharon receives the naira equivalent directly in her naira bank account.

Kaoshi makes international money transfers this easy!

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What is Kaoshi?

Kaoshi (pronounced: kay-oh-shee) is building a marketplace to connect Africans at home and abroad, to the financial services that enable them to meet their (financial) obligations, affordably and conveniently.

Starting with the Nigeria-Diaspora market…

The scarcity of foreign exchange (FX) is an agelong problem that has dominated economic discussions in Nigeria. Being a developing and import-dependent nation, Nigerians often need FX to facilitate business transactions abroad, embark on overseas travels, pay school fees, medical bills and fulfill other commitments (like mortgage) abroad etc.

With the growing population of Nigerians who need FX and the drastic drop in foreign exchange earnings by the Federal Government of Nigeria, supply has become grossly insufficient. The Naira (NGN)has continued to lose value as a result, despite the evident efforts to stem this unfavorable tide.

To salvage this uncomfortable…

Klarna goes live in the UK with Kaoshi

Last week, leading open banking service provider Klarna, announced their entry to the UK in partnership with Kaoshi. With this partnership, Kaoshi is expanding tailored African financial services access for the African Diaspora in the UK, and strengthening their contribution to the continent.

Kaoshi changing the game by catering to the African Diaspora’s financial needs

Despite being a key contributor to the GDP of African countries, Africans in Diaspora are underserved by Africa-based service providers. Some of these providers are waking up to the need to serve this market segment with tailored…

International remittances are money sent by a person (migrant) in a foreign country to his or her home country. According to the UN, about 1 in 9 people globally are supported by remittances from migrant workers and these remittances are key to helping millions out of poverty.

Using 2017 census records and total recorded remittances in 2017 to estimate the annual remittance per migrant for the countries surveyed, we made an intriguing discovery:

Nigerian migrants are not remitting the highest total volume, but they leave other migrant demographics in the dust when the annual remittance per migrant is considered.


Challenger banks, aka Neo banks/digital banks, are small banks that seek to compete with larger and older banks by offering financial services in areas that the older banks have underserved. Typically, these neo banks provide digital/mobile-only banking services. Neobanks can either apply for a license to practice or partner with existing banks to offer their services.

There have been several categorizations of neo banks, however, the consensus is that they are cheaper, nimbler, tech-savvier and customer-oriented than the traditional banks.

Governments around the world are relaxing strict regulations to make it easier for new entrants in the financial services to…

2019 was the year of the fintech companies, and traditional banks had to scramble to keep up with the change that swept the financial services industry. It is understandable to think there is little hope left for banks as we know them, however with open banking, could banks be making a comeback?

For some background knowledge on open banking, our short article here can get you up to speed. This article will be touching on partnerships between bank-fintech companies, learn more about the partnerships here.

The traditional banking industry has suffered from a massive erosion of trust brought about by…

Open banking is when banks provide access to the user’s financial data to third parties with the user’s consent. Open banking aims to stimulate competition and innovation among companies, therefore, improving customer experience.

When banks share user data, they do it through the API technology.

An API (application programming interface) is a simple and standardized means by which technology platforms from different vendors or locations communicate with each other. A common example of a successful API is EMail. Regardless of which service provider a user sends an email from, it will be received by the intended recipient. …

Image by Natallia Babrovich via ScienceSoft

Fintech, short for Financial Technology, is the use of technology to improve existing financial products/services and also create more efficient ones. Fintech has transformed how consumers interact with and react to financial products and services.

Initially, this technology served the traditional financial establishments like banks and trading firms but in recent times, there has been a shift towards serving the consumers directly. This shift has encouraged the general perception that fintech companies are disrupting the banking industry. However, this should not be the case. …


We are a marketplace connecting Africans at home and abroad, to the financial services that enable them to meet their obligations, affordably and conveniently.

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