Cyril Ogar
Cross-border payments remain one of Africa’s most stubborn challenges. Despite fintech’s rapid rise, sending money across the continent is still slower and more expensive than in many other regions. According to the World Bank, remittance fees in Sub-Saharan Africa average nearly 8%, the highest in the world. For businesses and families alike, the cost of moving money is more than an inconvenience, it’s a barrier to growth and financial stability.
Against this backdrop, Joshua Odeniya, Product Manager at Cudium, is emerging as one of the continent’s most influential fintech leaders. His work scaling Cudium from a modest two-country operation into a platform processing more than $60 million in transactions each month across 25+ countries has made him a standout voice in Africa’s financial technology movement.
Turning Barriers Into Breakthroughs
When Odeniya joined Cudium, skepticism was rife. Could a young African startup compete with the reliability of banks or the reach of global money-transfer giants? Odeniya believed it could if it tackled Africa’s toughest bottlenecks head-on.
Liquidity was at the heart of the problem. Settlement times often stretched beyond 72 hours, stifling trust. Odeniya led efforts to design a scalable framework that cut settlement to less than 24 hours by optimising timing and deploying multi-currency accounts. The shift was more than a technical milestone; it signaled that an African-born fintech could outperform traditional incumbents.
“Payments infrastructure here has always been seen as playing catch-up,” he reflects. “But we’ve shown that Africa can actually lead in setting new standards.”
Engineering Cost Efficiency
Another breakthrough came in pricing. High spreads had long deterred SMEs from embracing digital cross-border solutions. Odeniya pioneered corridor-specific FX routing strategies that slashed costs for businesses moving money across high-demand routes such as NGN–USD, NGN–GBP, NGN–GHS, and NGN–KES.
By driving down fees, Cudium didn’t just grow, it unlocked new flows of trade and remittances, fueling wider participation in the digital economy.
Compliance as Competitive Edge
In a sector where one compliance failure can sink a company, Odeniya made regulation a strategic advantage. He oversaw the rollout of real-time monitoring, automated KYC/AML workflows, and alignment with Central Bank rules, ensuring that Cudium scaled without compromising trust.
“Compliance is not just about avoiding penalties; it’s about confidence,” he says. “Whether it’s a business in Lagos paying a supplier in Nairobi, or a family in London sending money home, they need to know their transactions are secure.”
A Rising Fintech Talent
Industry observers say Odeniya represents a new generation of African fintech leaders: product thinkers who blend technical depth with commercial and regulatory vision. While many startups focus narrowly on growth, Odeniya’s approach balancing speed, cost, and compliance, has drawn attention from peers and investors as a model for sustainable scale.
His trajectory also underscores a broader shift: Africa is no longer just a recipient of financial innovation but a creator of solutions with global relevance.
Yet challenges remain. Despite Cudium’s success, Odeniya acknowledges that expanding beyond English-speaking markets presents new hurdles. “Francophone West Africa requires different regulatory approaches and local partnerships,” he admits. “We’re still learning how to navigate those complexities while maintaining our speed advantage.”
Looking Ahead
For Odeniya, cross-border payments are about more than moving money. “They are the infrastructure that enables trade, supports families, and connects Africa to the world,” he notes. “If we get this right, we’re not just solving for today, we’re building the foundation for Africa’s economic future.”
As Africa’s payment volumes are projected to reach $40 billion by 2025, according to McKinsey research, the continent’s fintech sector faces both unprecedented opportunity and intensifying competition from global players entering the market. Whether homegrown solutions like Cudium can maintain their competitive edge while scaling globally will likely determine not just individual company success, but Africa’s broader role in shaping the future of international finance.
