Ethiopia, June 26, 2025
Qore Technologies, a leading Nigeria-based technology provider for financial institutions, has officially announced its expansion into Ethiopia.
The expansion promises to accelerate the country’s financial sector by providing modern, cloud-native core banking infrastructure that enables banks, fintechs, and other financial institutions to deploy digital services faster, more affordably, and with greater market relevance and access.
“At Qore, we believe Africa’s path to prosperity runs through digital automation — and there’s no better place to start than financial services, the backbone of any economy. Having contributed meaningfully to the evolution of Nigeria’s fintech infrastructure, expanding into Ethiopia — the continent’s second most populous nation — is both a strategic and natural step. Our vision is bold: Africa to leapfrog into first-world status before mid-century. By digitizing and automating financial services, we’re committed to doing our part — one nation at a time,” says Emeka Emetarom, CEO of Qore.
With an impressive track record in Nigeria—where over 50% of Other Financial Institutions (OFIs) rely on Qore’s flagship product BankOne—Qore has grown into a continental force, already operating in markets like Kenya, Ghana, Gambia, Democratic Republic of Congo, Tanzania, and Senegal.
Now, the fintech infrastructure provider, Qore, is extending this proven capability to Ethiopia, where the financial sector has seen rapid digital transformation in recent years. More banks and customers are increasingly bypassing physical cash, paper trails, and brick-and-mortar branches in favor of digital banking experiences. However, legacy systems and costly, foreign-made solutions continue to hinder the ability of local institutions to compete effectively and meet rising customer expectations.
Qore aims to change that. Its arrival in Ethiopia brings access to a full-stack financial services platform designed specifically for the African market. The platform delivers a suite of digital tools including capabilities for core and digital banking, lending automation, instant card issuance, merchant services, agent banking, and seamless third-party integration.
These services are already powering over 520 financial institutions including 19 commercial banks and 500 microfinance banks and fintechs, processing 250 million transactions monthly, managing ₦155 billion ($103.3 million) in balances, and ₦150 Billion ($100 Million) in loans monthly. The platform is trusted by tier-1 institutions including Zenith Bank, Access Bank, First City Monument Bank, and United Bank for Africa and has now been deployed with Akufada, a prominent Ethiopian microfinance bank
According to Michael Hoodfar, COO of Qore, “Ethiopia stands at a pivotal moment in its banking evolution. By adopting Qore’s purpose-built, cloud-native core banking platform, Ethiopian banks are uniquely positioned to rapidly bypass traditional challenges and deliver exceptional digital financial services. At Qore, we’re committed to empowering these banks not only to grow but to lead. Transforming customer experiences, expanding financial inclusion, and driving Ethiopia forward on its path to becoming a thriving digital economy.”
Unlike traditional banking systems that require heavy up-front capital, long deployment timelines, and dedicated IT teams at each institution, Qore’s approach is grounded in the efficiency of cloud technology. The company’s BankOne platform can be deployed in as little as 12 weeks across African countries, drastically reducing time to market.
The model also significantly lowers the total cost of ownership for institutions. Rather than having every bank individually manage infrastructure, security, and maintenance, Qore offers a shared platform where costs and benefits are distributed, allowing even smaller players to operate with the technological sophistication of larger banks.
This growth has been further accelerated through a strategic partnership with Microsoft, under the Digital Natives initiative, which equips Qore with the tools and cloud infrastructure to scale rapidly and securely across Africa.
About Qore Technologies
Qore, with pioneer products like BankOne™ and Pryme™, is a leading Fintech Infrastructure and Banking-as-a-Service provider, delivering innovative technology and services to financial institutions including commercial banks, fintech companies, microfinance banks, and embedded finance enterprises. Qore enables efficient building, scaling, and operation of financial products globally. To learn more about Qore, visit www.qore.inc.
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