Registered organisations can now complete the process via the Kuda Business app, providing their CAC documents and trustee information, and have accounts activated within minutes.

For many of Nigeria’s thousands of NGOs and religious institutions, slow, branch-dependent banking has long hindered the management of donations, grants, and operational expenses. 

The Kuda update promises to simplify these processes, enabling organisations to focus more on their mission and less on administrative bottlenecks.

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“NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” said Nosa Oyegun, SVP Business Banking at Kuda. 

“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work.”

This also allows users to handle incoming donations and grants, make payments, monitor transactions in real time, generate professional account statements for audits, and grant controlled access to trustees, treasurers, and administrators, all within a single app. 

The signup process is designed to meet regulatory standards while reducing manual reviews, speeding up account activation, and improving information accuracy.

The timing of the update coincides with reforms in Nigeria’s financial sector. The Central Bank of Nigeria’s cashless policy imposes charges on high-volume cash withdrawals, affecting organisations that handle large donations. Digital banking solutions like Kuda’s now offer a practical way to avoid these expenses.

In addition, regulatory changes in 2025, including recognition of digital assets under the Investment and Securities Act (ISA) 2025, have strengthened the legal framework for fintechs to safely provide services to sensitive sectors. 

However, despite Nigeria’s position as Africa’s fintech leader, with over 430 fintech firms, millions of organisations are still excluded from digital finance due to infrastructural gaps and low financial literacy. Kuda’s move directly addresses this gap for NGOs and religious groups.

Nonetheless, economic stress, policy resets, and reforms in trade and banking policies have made digital-first, transparent financial tools more essential.

Focusing on incorporated trustees, Kuda is now launching an accounts solution for NGOs and religious organisations seeking speed, efficiency, and compliance in the dynamic regulatory and economic environment.

The update turns the POS terminals from basic payment machines into complete business management tools for small and medium-sized enterprises (SMEs).

With this new feature, merchants can now handle every part of a sale, from selecting products to confirming payment, without switching between apps or devices. 

The update helps small business owners save time, simplify daily operations, and serve customers faster.

“Our goal has always been to help small businesses operate more efficiently,” said Nosa Oyegun, SVP, Business Banking at Kuda. 

“With Shop & Orders, we are transforming the POS into a connected sales management tool that allows merchants to handle payments, track inventory, and manage orders in one place. It’s a practical way to help business owners focus less on administration and more on serving customers.”

The improvement is part of Kuda Business’s plan to build an all-in-one commerce platform for Nigerian entrepreneurs. In embedding business management directly into POS devices, Kuda aims to remove the need for separate systems that usually slow down operations.

According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), SMEs make up 96% of all businesses and 84% of total employment in Nigeria. However, many still depend on manual record-keeping and sales tracking. 

Kuda’s Shop & Orders feature helps bridge this gap by digitising sales processes and making daily operations more efficient.

“Technology should make business easier, not harder,” Oyegun added. “By putting key management tools on the POS terminal itself, we’re giving entrepreneurs one reliable place to run their shops. This is how we see the future of business banking in Africa — integrated, intuitive, and built around how merchants actually work.”

The Shop & Orders update is built for supermarkets, restaurants, and convenience stores, sectors that need quick and simple ways to manage sales. 

SMEs are currently looking for connected digital tools, and Kuda’s new solution provides just what they need, a smoother, all-in-one experience.

While other POS providers focus mainly on payments, Kuda POS terminals now let merchants sell, get paid, and manage sales in one place. The Shop & Orders update is available to all users of Kuda Business POS terminals across Nigeria.

The company made this assertion at the launch of the product in Lagos on 10th October, 2022.

Nosa Oyegun, the Head of Banking Products and Partnerships of Kuda MFB said that “Kuda Business” will assist small-scale business owners overcome some of their many challenges.

“Kuda Business” is the answer to some of the most basic challenges that freelancers and MSMEs face in the management of their businesses, especially in the areas of invoicing, making and receiving payments, and general management of their business outfits. Kuda Business is an all-in-one manager that lets customers send invoices, pay several bills to different individuals and corporate entities easily without having to switch apps.”

He listed some of the enablement KudaBusiness brings to include easy sending of estimates, ability to send invoices and get paid in multiple ways, make free transfers and bulk transfers, pay business bills without switching to another app and management of business finances with a team of two or more people.

Others are the ability to start as freelancers and get help with registering their businesses with the Corporate Affairs Commission (CAC) and the opportunity to utilise features (which will be available via the mobile app) that would enable businesses to receive payments. 

He further noted that KudaBusiness helps the business owner cut costs as well as ease their internal processes.

“We know that saving money matters to businesses, so customers on the platform enjoy Kuda MFB’s standard 25 free transfers to other banks every month with their KudaBusiness account. Also, to help entrepreneurs with the management of their finances, the Kuda Business account has a detailed dashboard that shows how money comes and goes with real-time updates so that they will never be confused about business finances.”

Highlighting the steps prospective customers would take to enlist on the platform, Nosa stated that: 

“We have simplified the process of coming on board the platform so prospective customers do not have to go through any time-consuming or energy-sapping routine. All entrepreneurs or freelancers who are desirous of enjoying the benefits of the KudaBusiness feature need do; is sign up at business.kuda.com, add money to their KudaBusiness accounts, keep using Kuda Business as freelancers or upgrade to a full account and, lastly, download the Kuda Business mobile app from their app store to manage their business account wherever they are.