Liberia – Key Findings from the Scoping Report
- Given the nascent state of payments infrastructure in Liberia, the Central Bank’s proposal for a central switch should be supported. However, it is important to ensure that the financial considerations include on-going support, maintenance, and other cost considerations. The mobile money guidelines would also benefit from a greater level of clarity and more alignment with market realities.
- The Liberian market would benefit from additional knowledge about best practices in mobile financial services. A series of workshops that engage all interested stakeholders would be a valuable contribution. Regulations, business strategies, financial models, and operational approaches could all be discussed.
- Customer demand for alternative financial delivery channels is high, given the high cost of transporting and storing cash in Liberia. It would be prudent to perform market research to better understand customer “pain points” to assist in the development of products that will result in substantial customer uptake.
- The active players in the market, as well as those that are piloting mobile financial services, would benefit from technical assistance with business models, collaboration models, and operations.