Top 5 Finance Apps in Nigeria Q2 2022 Performance

The second quarter of 2022 saw notable performance trends among the top finance applications in Nigeria, with data provided by Sensor Tower offering valuable insights.

PalmPay - Transfers, Bills experienced a fluctuating but generally upward trend in weekly downloads, peaking at approximately 117K by the end of June. Active users showed a consistent increase from around 558K in late March to nearly 736K by the end of the quarter.

Kuda - Transfers and payments also demonstrated strong performance, with weekly downloads reaching a high of about 115K in late May before tapering off to around 56K by the end of June. Active users saw a steady rise, peaking at approximately 814K in late May.

FairMoney—Instant loans & more from a digital bank showed variability in weekly downloads, with a peak of around 92K in late April and a low of about 43K in early May. Active users fluctuated, reaching a high of approximately 655K in late April before settling around 531K by the end of June.

OPay - Cash rain, Airtime, Transfer, Savings had a stable performance in weekly downloads, with numbers ranging from 49K to 70K throughout the quarter. Active users remained relatively steady, peaking at approximately 668K in late April and ending the quarter with around 647K.

OKash - Safe and reliable personal loan in Nigeria had a notable peak in weekly downloads at around 102K in late March, followed by fluctuations between 35K and 67K. Active users showed a declining trend, starting from about 204K in late March and ending around 140K by the end of June.

For more detailed insights, visit Sensor Tower.