Liberia: CBL Launches Inclusive Instant Payment System, Ends Era of Mobile Money Silos - FrontPageAfrica

Monrovia,— Liberia took a major leap toward a cash-lite, digitally inclusive economy on Tuesday with the official launch of the Inclusive Instant Payment System (IIPS), a nationwide mobile money interoperability platform spearheaded by the Central Bank of Liberia (CBL).

Unveiling the system, President Joseph Boakai declared a new era for Liberia’s economy, describing it as a bold national commitment to financial inclusion, transparency, and digital transformation.

Delivering the keynote address at the EJS Ministerial Complex in Oldest Congo Town, under the auspices of the Central Bank of Liberia (CBL), President Boakai said the IIPS signals Liberia’s readiness to embrace the future of digital finance while ensuring that progress reaches every citizen.

“This is not just a technological achievement; it is a statement of intent,” President Boakai said. “It is a promise to our people that progress will not leave them behind.”

A Digital Tool for National Development

The President linked the new payment platform directly to his government’s ARREST Agenda—Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism—describing the system as a powerful enabler across all sectors of the economy.

Under agriculture, he said farmers will now receive payments instantly, allowing them to reinvest quickly in seeds, tools, and expansion. As roads connect communities physically, Boakai noted, the IIPS will serve as a “digital highway,” connecting Liberians financially regardless of location.

On governance and the rule of law, the President emphasized that digitized payments will enhance transparency and accountability by reducing leakages and delays in salaries, pensions, and social transfers.

“Transparency is justice,” he said. “This is governance at its best—responsive, accountable, and people-centered.”

Financial Inclusion as a Right

President Boakai stressed that financial inclusion must no longer be treated as a privilege but as a fundamental right, particularly for rural communities and informal sector workers who have long relied on risky and inefficient cash transactions.

“No Liberian should be left behind. No community should be excluded. No dream should be delayed because of distance or lack of access,” he declared.

According to the President, the IIPS will empower market women, small businesses, youth innovators, and entrepreneurs by enabling secure, real-time transactions and creating opportunities for new digital products and services to ride on the platform.

Boosting Business and Competitiveness

By reducing reliance on cash, the President said the system will lower transaction costs, increase speed, build trust, and attract investment—key ingredients for competitiveness in a global digital economy.

“Digital payments reduce costs, increase speed, and stimulate entrepreneurship,” he noted. “They make Liberia competitive in a world that rewards efficiency.”

He described the brand unveiled alongside the platform—“Crafting an Instant and Inclusive Liberia”—as a declaration of national ownership, stressing that the system belongs to all Liberians, regardless of income, age, or location.

President Boakai praised the Central Bank of Liberia, the Ministry of Finance and Development Planning, financial institutions, mobile money operators, and development partners for their collaboration in bringing the system to life.

“This achievement did not happen by chance,” he said. “It is the result of partnership and shared vision.”

However, he cautioned that the launch marks only the beginning of a broader digital transformation, pledging continued expansion of digital financial services and integration of new technologies to ensure universal access.

The President urged citizens, businesses, and institutions to adopt and trust the new system, calling it not merely a platform but a national movement for inclusion and empowerment.

“Development is not a spectator sport,” Boakai said. “It requires participation. It requires ownership. It requires all of us.”

As Liberia steps into what he described as a future of digital empowerment, President Boakai reaffirmed his administration’s commitment to the ARREST Agenda and to building a nation where opportunity is a right enjoyed by all.

“Together,” he concluded, “we can build a Liberia where every citizen can transact instantly, participate fully in the economy, and share in our national progress.” 

The ceremony was attended by senior government officials, lawmakers, bankers, mobile money operators, business leaders and transport unions. CBL Executive Governor Henry F. Saamoi described the initiative as a “defining and transformative moment” in Liberia’s financial services history.

“With the launch of the Inclusive Instant Payment System, we take a bold and decisive step toward a modern digital financial economy—one where efficiency, transparency and inclusion are no longer aspirations, but lived realities for every Liberian,” Saamoi said.

Liberia Joins Africa’s Instant Payments Wave

The IIPS positions Liberia among a growing number of African countries deploying real-time payment infrastructure. Citing the State of Inclusive Instant Payment Systems (SIIPS) 2025 Report, Saamoi noted that 25 African countries now operate domestic instant payment systems, with 36 platforms processing billions of transactions annually and contributing to economic growth.

“Liberia now joins this continental wave, not as an observer, but as a participant and future contributor,” he said.

Ending Cash Dependence, Expanding Access

For decades, Liberia’s financial system has been dominated by cash transactions, a reality the CBL says is costly, risky and inefficient. The new system enables real-time, low-cost digital transactions across mobile money platforms, reducing the need for cash and expanding access for both the banked and unbanked.

Saamoi stressed that the IIPS was designed to serve urban and rural communities alike, including market women, motorcyclists, kekeh riders, taxi and bus drivers, farmers, entrepreneurs and small businesses across all 15 counties.

“Think of the Inclusive Instant Payment System as a digital highway—connecting every Liberian to opportunity,” he said.

Boost for Government Payments and Transparency

One of the system’s most significant impacts is expected in public finance. According to the CBL, salaries, pensions and social transfers will now be paid instantly and transparently, reducing delays and leakages while strengthening public trust.

The pilot phase currently supports Person-to-Person (P2P) and Government-to-People (G2P) transactions. Saamoi disclosed that work is ongoing with the Liberia Revenue Authority (LRA) to roll out People-to-Government (P2G) payments, allowing citizens to pay taxes digitally. Future phases will incorporate commercial banks, fintech firms, merchant payments, bill payments and eventually cross-border transactions.

Security, Trust and Collaboration

Addressing concerns about digital risks, Saamoi assured users that the IIPS is built on state-of-the-art technology with robust cybersecurity safeguards.

“Your money, your data, your trust—these are sacred to us,” he said.

He credited the success of the project to collaboration between the CBL, commercial banks, mobile money operators, government agencies and international partners, including the Gates Foundation, AfricaNenda, Mojaloop Foundation, ThitsaWorks, and the World Bank, which is supporting the deployment of a full National Electronic Payment Switch (NEPS).

‘Pay–Na Na’: A National Digital Brand

The system is branded “Pay–Na Na: Inclusive. Instant. Liberia.”, a slogan Saamoi said reflects national ownership and Liberia’s readiness to lead in digital finance.

President Boakai was also praised for providing the political impetus behind the project, with Saamoi recalling the President’s pointed question about why Liberians still needed two phones to conduct mobile money transactions.

“That question pushed us to deliver this first phase of the National Electronic Payment Switch and get over the finish line,” Saamoi said.

Call to Action

As the system goes live, the CBL called on financial institutions, businesses and citizens to adopt and trust the platform, describing it not just as a payment tool, but as a movement for inclusion and empowerment.

“Let us build a financial system that is resilient, stable, inclusive, instant and unmistakably Liberian,” Saamoi said.

The launch comes as Liberia positions itself to modernize its economy, deepen financial inclusion and unlock digital opportunities ahead of the new year.