The Inquirer is a leading independent daily newspaper published in Liberia, based in Monrovia. It is privately owned with a "good reputation".

Cititrust Begins Operations In Liberia

A new financial institution known as Cititrust Saving and Loans Liberia, Limited is expected to bring total relief to the business community having begun full operations in the country.

The new institution is said to have the lowest loan rate of 4 percent than any other financial institution as well as other valuable services intended to meet the needs of the banked and unbanked segment of the population.

Cititrust Savings and Loans Ltd was incorporated in Liberia on November 2, 2020, and was granted its Provisional Bank License on the 28 th of January, 2021, and on the 11 th of June, 2021, the financial institution obtained its final license to operate in Liberia as a Microfinance Institution.

The new financial institution is a Deposit-Taking Microfinance which believes in making a difference in the lives of its customers as well as contributing to the growth of businesses and the Liberian economy.

The financial giant is a subsidiary of the larger group Cititrust Holdings PLC which has its operations spread across African countries namely Nigeria, Ghana, South Africa, Kenya, Botswana, Cote D’Ivoire, Uganda, Tanzania, Benin Republic and Malawi.

Products loans and services offered by Cititrust Saving and Loans Ltd are Corporate Accounts; Citi Susu Quick Loans; Cheque Clearing; Saving Accounts; Micro Enterprise Loans; Inward Remittances; Citi-Cheese Accounts; Working Capital Facilities; Premium Saving Accounts and Cash Collections.

Others are Overdraft Facilities; Fund Transfers; Target Savings Account; Personal/Salary Loan; Mobile & e-Banking; Salary Account; Staff Scheme Loan; Email & SMS Alert; Call Account; Contract Financing; Payroll Service; Fixed Term Deposits and LPO.

The Managing Director and Chief Executive, Efe Valentine Emerhana, emphasized that the institution’s aims and objectives are to impact and make the difference in the lives of Liberians as well as changing the narratives of the financial sector in Liberia.

According to him, there is a huge gap between the commercial banks and the retail end of the economy, which his institution is going to make everything possible to fill and bring a new dimension in the financial sector of the country.

He added, “Statistics has shown that 84 percent of people in Liberia are unbanked and this is where the opportunity is, and this is where we need to impact lives and so, this is where Cititrust is coming to fill-up.”

“We will also be running normal transaction services but will do it in a unique way by capturing the unbanked market. We are also working out modalities to collaborate with other GSM companies and other financial institutions like TipMe and others to ease the burden Liberians normally go through financially,” Mr. Emerhana alluded.

Cititrust Saving and Loans Ltd, Liberia Operations office is located on 20 th Street, in TipMe Building on Tubman Boulevard.

You can visit their website by clicking on to learn more about us.

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