MONROVIA — The Central Bank of Liberia (CBL) on Tuesday officially launched the Inclusive Instant Payment System (IIPS), a national digital payment platform designed to enable real-time and interoperable transactions across banks and mobile money operators, marking a major milestone in Liberia's digital financial transformation.
The launch ceremony, held at the Ministerial Complex in Congo Town, brought together senior government officials, mobile network operators, commercial banks, financial institutions, regulatory agencies, development partners, and international stakeholders. Key partners in the rollout include Lonestar Cell MTN and Orange Liberia, whose mobile money platforms will now be interoperable under the new system.
President Joseph Nyuma Boakai, Sr.,serving as the launcher, described the IIPS as a "statement of intent and promise" that progress in Liberia's digital economy will be inclusive and leave no citizen behind.
"Citizens deserve the same opportunity to participate in the economy by sending and receiving money efficiently and affordably," President Boakai said.
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"The people deserve dignity in transaction. This system will strengthen transparency and accountability in government and empower farmers, market women, and business people to send and receive money instantly."
The President emphasized that the launch of the IIPS is "not a privilege but a right to all Liberians," aligning the initiative with the Government's ARREST Agenda--Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism.
The Inclusive Instant Payment System, regulated and supervised by the CBL, enables full interoperability among banks, mobile money operators, and other financial service providers. Through the platform, individuals and businesses can send and receive money in real time--whether between bank accounts, mobile wallets, or across different service providers--reducing transaction delays and reliance on cash.
CBL Governor Henry F. Saamoi described the IIPS as a bold step toward building a modern and inclusive digital financial economy.
"This is a milestone that speaks to our vision, results, and commitment to the people of Liberia," Governor Saamoi said. "Efficiency, transparency, and inclusion will no longer be abstract goals but a lived reality for all Liberians."
He reiterated that the Central Bank's mandate remains clear: to ensure payment systems that are safe, reliable, and inclusive--"a system that works for all."
The CBL noted that the IIPS addresses long-standing challenges such as fragmented payment channels, slow transaction processing, and limited interoperability. By connecting all major financial players on one national platform, the system is expected to enhance trust, transparency, and efficiency across the payments ecosystem.
For citizens and small businesses, the IIPS will simplify everyday transactions, making them faster and safer. Market women, farmers, students, entrepreneurs, and small and medium-sized enterprises (SMEs) are expected to benefit from reliable digital payments, whether receiving funds directly into mobile wallets or bank accounts.
The newly launched system is expected support efficient Government-to-Person (G2P) payments, including salaries, social benefits, and other public disbursements. This is expected to reduce leakages, improve transparency, and ensure that public funds reach beneficiaries quickly and securely.
In brief remarks, Minister of Finance and Development Planning Augustine Kpehe Ngafuan said the Government is committed to digitizing the economy, noting that access to finance remains a key constraint to growth.
"This platform will help address that challenge by expanding access and improving efficiency in financial transactions," Minister Ngafuan said.
The CBL disclosed that the rollout of IPS services will continue beyond the official launch in close collaboration with financial institutions and mobile money operators, with the goal of extending digital financial services to both urban and rural communities.
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The Central Bank reaffirmed its commitment to improving safe, secure, and efficient payment systems, positioning the Inclusive Instant Payment System as a cornerstone of Liberia's journey toward a unified and inclusive digital economy.
Alphonso Toweh
Has been in the profession for over twenty years. He has worked for many international media outlets including: West Africa Magazine, Africa Week Magazine, African Observer and did occasional reporting for CNN, BBC World Service, Sunday Times, NPR, Radio Deutchewells, Radio Netherlands. He is the current correspondent for Reuters
He holds first MA with honors in International Relations and a candidate for second master in International Peace studies and Conflict Resolution from the University of Liberia.
