By Bill W. Cooper
Tilgent Pay Mobile Money Wallet, in collaboration with the Liberian Bank for Development and Investment (LBDI) has begun engaging local communities and raising awareness about its groundbreaking services aimed at reshaping Liberia’s financial sector.
The initiative which stated with a community football tournament in Thinker’s Village over the weekend also signaled the company’s commitment to both social engagement and economic development.
Unlike MTN Mobile Money and Orange Money Liberia, Tilgent Pay Mobile Money Wallet, in partnership with LBDI vision is to further revolutionize the country’s Financial Landscape with Innovative Mortgage Solutions.
It is also expected to create huge number of jobs for struggling Liberians as well as enable business women, struggling parents among others take loans for business purposes as well as become House owners at an affordable price and interest rate.
In an interview with journalists over the weekend, Tilgent Pay Mobile Wallet, Acting Community Chair and Country Director, Christ Bailey, emphasized the long-standing collaboration between Tilgent and LBDI, aimed at creating a more effective and inclusive financial system.
He said, “Tilgent Mobile Money has been working with LBDI for quite some time now, trying to put in place a system that will be more effective than existing mobile money services.”
According to Bailey, the new platform will not only provide financial services but will also engage in real estate, offering long-term mortgage solutions to low-income earners.
He underscored the significance of this venture for Liberia, expressing gratitude to Ian Fenwick, West Africa Regional Vice President of Tilgent Pay Mobile Money Wallet, for investing in the country.
“I can assure you that this government, as a member of the executive of the Unity Party, is interested in development. When they talk about transparency and accountability, these are the hallmarks of Joseph Boakai’s government,” he added.
Bailey further reassured potential investors that their investments would be fully protected, adding that the innovative mortgage system introduced by Tilgent Pay is designed to make homeownership more accessible to low-income Liberians.
Also buttressing Bailey’s assertion, Ian Fenwick echoed Bailey’s sentiments, describing Tilgent Pay Mobile Money Walle, as a game-changer in the Liberian market and said, this wallet is quite different from previous mobile money systems.
“It is less expensive, more effective, and cost-efficient, and it will inject liquidity into the banking system, and to admit, this mortgage system will help Liberia a lot,” Bailey explained.
He further, “For example, the company will provide homes to low-income earners for a period of up to 25 years, allowing them to make small, manageable payments over time and by the end of the term, they will own a home that they might not have been able to afford otherwise.”
He added that the platform has been in development for six years and is now ready to offer Liberians the opportunity to deposit their salaries and access loan mortgages through the wallet.
“We believe that affordable homes or low-cost homes are our solution, and this upcoming launch will also include the introduction of a housing mortgage program, enabling individuals to access long-term mortgages based on their salary credibility,” he added.
Meanwhile, the Senior Vice president for Business Development and Marketing at LBDI, Angela Gerdau highlighted the bank’s role in providing accessible financial services to ordinary Liberians.
“The bank is where common people go to save their susu money and borrow money to start their small businesses or take credit,” Gerdau said.
She emphasized that the partnership with Tilgent will enable the bank to offer more comprehensive services, including mortgage loans for those looking to build or purchase homes.
Gerdau also announced the bank’s corporate social responsibility initiatives, including the donation of football jerseys to local communities as part of their youth development efforts.
