The Liberia Telecommunications Authority (LTA) and Central Bank of Liberia (CBL) have formalised a partnership to support smaller businesses in the mobile money market by making it easier for them to connect with mobile network operators (MNOs) so they have fair access to the market.
They also aim to accelerate financial inclusion and bridge access gaps.
The partners intend to prevent emerging players in the mobile money market from being disadvantaged by prohibitive costs or restrictive practices.
The LTA will now join the National Payments Council (NPC), a body that supports the Central Bank in maintaining secure and efficient payment systems.
The MoU emphasises the importance of transparency and cooperation between the CBL, LTA and MNOs. It outlines mechanisms for regular consultation and collaboration to address any challenges that may arise.
