The Central Bank of Liberia (CBL) is under mounting pressure from market women across the country, following a public outcry led by Madam Elizabeth Finda Sambollah, National President of the Liberia Marketing Association (LMA), who voiced frustration over persistent mobile money pricing discrepancies and unfair exchange rate practices.
Speaking during the CBL's recent Monetary Policy Communique briefing held at the institution's headquarters in Monrovia, Madam Sambollah delivered a passionate statement that resonated with grassroots traders and informal economy actors across Liberia.
"Good afternoon. We just want to say thank you for everything that was said here. Some of the English we understood, some we didn't," she began. "But when you said that rural connectivity will benefit the Marketing Association -- we love that. We clap for that."
While welcoming the CBL's policy intentions, Sambollah turned to the harsh realities marketers face, starting with the dual mobile money rates charged by Liberia's two dominant telecom providers: Orange and Lonestar MTN.
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"When someone sends money to you through Orange Money, sometimes they take only $100. But if it comes through Lonestar, they take $400 or $500. What is happening?" she questioned sharply. "We want to know what the Central Bank is doing about that."
She described the confusion and burden such inconsistencies place on market women who rely on mobile money for daily transactions, often operating on thin profit margins.
"This is not fair. The poor woman selling pepper or dry goods -- how does she survive when just receiving money means losing L$500?" she asked.
Sambollah also pointed out that many traders and storeowners continue to manipulate exchange rates, ignoring the CBL's official rate announcements.
"The Central Bank tells us the rate is 200, but when you go to the store, you have this Liberty in your hand and ask the price -- they say $5 USD," she explained. "But when you try to pay L$200, they tell you to add L$20 before they sell it to you. What is the Commerce Ministry doing about that?"
These practices, she argued, amount to routine exploitation of consumers -- many of whom are women selling in markets who don't have the leverage or knowledge to contest unfair rates.
Shifting to transportation challenges, Sambollah highlighted the urgent need for road and logistics support for rural traders.
"Many of us sell in Monrovia, but we live in the villages and grow our own food. We plant pineapples and other perishable things," she said. "But a few times, I went to pick my pineapple -- I got to the waterfall and had no way to cross. I had to leave some behind. When I finally made it here, what I expected to earn, I didn't get. It discourages you from doing that business."
In a move that underscored the LMA's commitment to national development, Sambollah proposed a partnership with the Central Bank to support financial education across Liberia.
"We want to join you. The University of Liberia has joined you to educate our people. But we can do it better too. The people understand us. They voted for us. Let us help," she said, drawing applause from participants.
CBL Executive Governor Henry F. Saamoi responded directly to Sambollah's concerns, assuring her and other market stakeholders that the Bank is already engaging with mobile money providers to address the pricing disparities.
"We are working to resolve that particular situation," Governor Saamoi said. "As we go toward the end of next month, I'm sure the situation will be resolved. We have their full commitment -- they are on board."
He explained that integration work is currently underway between the mobile money operators, which will harmonize transaction fees and bring much-needed consistency to the digital financial space.
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"Orange will not be charging you something and MTN charging something different," he said. "We are addressing that."
The Governor welcomed the LMA's offer to join the Central Bank's financial literacy program, recognizing the cultural and community influence market women hold.
"Thank you for volunteering," Saamoi said. "Your people will understand you more than when someone from the Bank goes there speaking all his English. They'll understand you because you speak their language. That is very important."
The exchange between the LMA President and the Central Bank Governor has drawn attention to the real-world challenges Liberians face in navigating an evolving, yet unequal financial landscape. It also spotlights the crucial role that women, especially market leaders, play in advocating for economic justice and inclusive policy implementation.
With mobile money playing an increasingly central role in financial transactions across Liberia, the call for standardized charges and fairer practices is one the CBL can no longer afford to overlook.
