Akufada to implement its Core Banking and Digital Banking Systems

Akufada to implement its Core Banking and Digital Banking Systems

Akufada MFI, one of the newest microfinance institutions in Ethiopia, announced that it is in the final stages of procuring its Core Banking and Digital Banking Systems. The systems will enable the institution to offer a range of products and services to its customers, such as savings, loans, insurance, remittances, mobile banking, and Internet banking.

The Board Chairman of Akufada MFI, Ato Robel Nigusse, said that the institution is aiming to launch its Core Banking and Digital Banking Systems before the end of 2023. He added that the systems will help the institution to expand its branch network, reach more customers, improve operational efficiency, and comply with regulatory requirements. Akufada MFI was established in 2022 with 33 million Br paid-up capital with its head office in Debre Birhan. It currently has sixteen branches in North Shewa, Debre Birhan, Hawasa, Bahirdar and Addis Ababa. It plans to increase its branches to 50 in the FY 2023/24 and its capital to 5 Billion Br by 2025.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top