By Linus Flomo
The Liberia Telecommunications Authority (LTA) and the Central Bank of Liberia (CBL) have signed a groundbreaking Memorandum of Understanding (MOU).
The signing ceremony, held on Friday, August 30, 2024, in the CBL boardroom, marks the beginning of a new era of collaboration between the two institutions.
This partnership is expected to play a pivotal role in strengthening the regulatory frameworks governing both sectors, with emphasis on improving mobile money services across the country.
According to the terms of the MOU, the CBL and LTA will work closely to ensure better interoperability between mobile money platforms, thereby making it easier for Liberians to access and use these services.
The goal is to drive innovation, promote financial inclusion, and ultimately, improve the quality of life for citizens across the nation.
“This partnership is a game-changer for Liberia,” stated the Governor Henry F. Saamoi, of the Central Bank of Liberia. “By aligning our efforts with the LTA, we can drive innovation, promote financial inclusion, and ultimately, improve the lives of our citizens.”
The agreement comes at a critical juncture for Liberia, as the nation continues to recover from recent economic challenges.
The collaboration between the CBL and LTA is expected to foster a more integrated and resilient telecom and financial ecosystem.
In the words of the Chairman of the LTA Board of Directors, Abdullah L. Kamara, “The LTA is committed to working hand-in-hand with the CBL to create a thriving telecom and financial ecosystem in Liberia”, adding, “together, we will break down barriers, foster collaboration, and ensure that every Liberian has access to the tools they need to succeed.”
