Top 5 Finance Apps in Nigeria Q4 2022 Performance Analysis

Analyzing the performance of the top 5 finance apps in Nigeria during the fourth quarter of 2022 reveals interesting trends in downloads, active users, and revenue. The data, sourced from Sensor Tower, provides valuable insights into how these apps fared on a unified platform that includes both iOS and Android.

OPay - Cash rain , Airtime , Transfer , Savings saw a significant increase in weekly downloads, starting from 64K in late September and peaking at over 185K by the end of December. Active users grew steadily from approximately 661K to 911K over the same period.

PalmPay - Transfers, Bills experienced a fluctuating trend in weekly downloads, with numbers ranging from around 25K to 96K. Active users hovered around 715K at the start of the quarter and ended slightly higher at approximately 744K.

OKash - Safe and reliable personal loan in Nigeria showed a modest increase in weekly downloads, moving from 35K to 54K by the end of December. Active users also saw a rise from about 122K to 147K during this period.

FairMoney—Instant loans & more from a digital bank maintained a steady download rate, starting at 37K and ending at 36K. Active users remained relatively stable, beginning at around 482K and finishing the quarter at approximately 451K.

Kuda - Transfers and payments experienced a consistent download rate, with weekly downloads ranging from 35K to 47K. Active users stayed robust, starting at about 756K and ending at 740K.

For more detailed insights, visit Sensor Tower.