Central Bank of Liberia unveils inclusive instant payments system

By Staff Writer

Steve Haley, Director of Market Development at The Mojaloop Foundation,

The Mojaloop Foundation and the Central Bank of Liberia (CBL), in partnership with Singapore-based ThitsaWorks and The AfricaNenda Foundation, recently launched the Liberian Inclusive Instant Payments System (IIPS), a modern real-time interoperable payments platform powered by Mojaloop, an open-source payments infrastructure designed to advance digital financial inclusion.

Liberia has made considerable strides in promoting financial inclusion. According to The World Bank Global Findex (2024), Liberia exceeded its 50% account ownership objective early, achieving 52% by 2024, owing partly to the rapid expansion of mobile wallets (over 11 million wallets).

Using the Mojaloop open-source payments infrastructure, deployment took only 73 business days, making Liberia the fastest Mojaloop installation to date.

Steve Haley, Director of Market Development at The Mojaloop Foundation said: “We are thrilled to see IIPS deployed with such speed.

"Completing the first Government-to-Person (G2P) use case in 73 days and delivering Person-to-Person (P2P) capability in 111 days, culminating in a fully interoperable platform connecting Lone Star Cell MTN and Orange Liberia is a phenomenal and unprecedented achievement.

Liberia has long been a cash-heavy economy where limited interoperability forced many citizens to carry two phones (one for MTN and one for Orange) to transact.”

He added: “This launch proves that Mojaloop is not only cost effective, but dramatically faster to deploy than traditional systems. Mojaloop is a complete, ready to implement product that does not require heavy, up-front investment or years of development. The exceptional leadership of the Central Bank of Liberia – supported by ThitsaWorks and AfricaNenda, set a new benchmark for central bank-led digital infrastructure projects.”

The country's IIPS is the first real-money deployment of Mojaloop v17, granting Liberia access to the most recent cross-border and fintech integration capabilities ahead of other markets.

The system will make life easier for citizens and businesses by enabling rapid, dependable, and secure digital transactions that minimise reliance on cash and increase financial involvement.

Government payments, including as salaries and social benefits, will become more efficient and transparent; payroll processing will take seconds rather than seven days.

Miatta Kutteh, Director of Payment Systems at the Central Bank of Liberia said: “To remain on par with our neighbors, we knew we needed to fully digitize Liberia’s economy. Implementing IIPS is the first major step toward establishing a national electronic switch that integrates all market participants. Interoperability has been one of Liberia’s greatest challenges, especially for rural and underbanked communities. Mojaloop gives us a modern, open and secure infrastructure to drive change.”

Dr. Robert Ochola, CEO, AfricaNenda Foundation, said: “The launch of Liberia’s Inclusive Instant Payments System marks an important step in the country’s journey toward a more inclusive and interoperable payments ecosystem. It reflects strong leadership from the Central Bank of Liberia and effective collaboration across public and private stakeholders. This system will make everyday payments faster, more affordable, and more accessible, particularly for underserved communities, while laying a solid foundation for continued innovation and economic participation.”

Nyi Nyein Aye, Founder and CEO of ThitsaWorks, stated: “We are honored to have supported the Central Bank of Liberia in this landmark launch of the Inclusive Instant Payment System (IIPS). Under the strong leadership of the CBL, and through close collaboration with our partners, AfricaNenda Foundation and the Mojaloop Foundation, we were able to bring both the technical platform and the business operations to life.

“This achievement reflects the dedication of our team and the shared commitment to building a digital payments ecosystem that works for all Liberians. We look forward to continuing this partnership to advance financial inclusion and drive innovation across the country.”