Liberia: Mercy Corps Liberia Hosts Day-Long Digital Financing Networking Event for Small Enterprises

2 March 2026
FrontPageAfrica (Monrovia)
By Contributing Writer

Monrovia — A high-level learning and networking event aimed at advancing youth economic empowerment through digital finance was held last week in Monrovia, bringing together key stakeholders from

government ministries, mobile network operators, financial institutions, youth-led enterprises, development partners, and ecosystem enablers.

The one-day Digital Financial Services (DFS) forum, organized by Mercy Corps Liberia, highlighted the transformative potential of digital finance in expanding access to funding for microenterprises, particularly those led by young people.

Delivering opening remarks, Mr. Jacob Sambolah, Director of Programs at Mercy Corps Liberia, emphasized that the event was a private sector-driven and encouraged participants to seize the opportunities presented through collaboration and innovation.

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Discussions throughout the day focused on lessons learned, emerging innovations, and actionable strategies to strengthen small business investment and reduce barriers to finance.

Participants brainstormed practical solutions to challenges affecting micro and small enterprises, including limited access to affordable loans and suitable financial products.

According to a Mercy Corps survey, closing the access-to-finance gap is critical to improving performance and employment outcomes in microenterprises. However, systemic challenges--including informality, limited credit histories, and high perceived lending risks--have constrained progress.

Across Liberia, many small businesses struggle to access formal financial instruments. As a result, some entrepreneurs resort to informal lenders charging above-prime interest rates or depend on grants to sustain operations.

The situation is even more difficult for microenterprises operating informally, as many commercial banks lack loan products tailored to this segment due to concerns over high default risks.

Microfinance institutions (MFIs) that lend to this segment often charge interest rates as high as 30 percent--rates that are unsustainable for businesses operating on tight profit margins and slow growth trajectories.

Digital Financial Services present a significant opportunity to bridge this financing gap. Mobile Network Operators such as Orange Liberia and Lonestar MTN can leverage their mobile money platforms, customer data, and digital infrastructure to develop innovative lending products.

These tools can help establish alternative credit scoring systems and expand financial inclusion, particularly for underserved youth entrepreneurs.

Under the PROSPECTS IV program, Mercy Corps and its partners are pioneering digital solutions and financial products through a comprehensive approach that builds ecosystem capacity, supports product development, and facilitates the launch of Liberia's first mobile-based loan products.

PROSPECTS IV is a 45-month, 48 million SEK initiative designed to directly benefit 6,182 young people by September 2025 through improved employment opportunities.

The program applies a Market Systems Development for Employment (MSD4E) approach to drive systemic change by influencing public, private, and civil society actors to adopt sustainable, scalable solutions that enhance service delivery for jobseekers.

The recent passage of a digital lending policy by the Central Bank of Liberia marks a significant step forward. The policy aims to promote economic development through integrated Information Communication Technology (ICT) systems that foster social inclusion.

Under this framework, Mobile Network Operators are exploring tailored products for different market segments, ranging from nano-loans of as little as USD 10 to digital savings products. There is also potential for partnerships between MNOs, banks, and microfinance institutions to expand the reach and sustainability of digital credit services.

The forum underscored the importance of coordinated, private sector-led solutions in unlocking affordable and reliable financing for Liberia's young workforce. By leveraging digital innovation, strengthening policy frameworks, and fostering cross-sector collaboration, stakeholders aim to create a more inclusive financial ecosystem that supports youth entrepreneurship and sustainable economic growth.

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