By Jacqueline B. Williams-NTow, Chief Executive Officer, International Bank (Liberia) Limited (IBLL)
In many of the world’s fastest-growing emerging and developing economies, small and medium-sized enterprises (SMEs) are the prime engines of growth and development, and Liberia is no exception. SMEs are the backbone of the country’s economy, with estimates indicating that more than 80 percent of Liberian firms have fewer than 20 employees. Small businesses are a vital force behind the country’s current and future prosperity.
Recognising their pivotal role, International Bank (Liberia) Limited (IBLL) has positioned itself as a trusted partner for Liberia’s growing SME sector by providing the financing and support these businesses need to succeed.
Establishing an SME in Liberia comes with challenges. Many small business owners face hurdles in accessing affordable credit, especially when they have limited credit histories, which often pushes them into high-risk categories.
In addition to factors such as high start-up costs, the unavailability of long-term funding and infrastructure gaps, insufficient education and inadequate skills across the labour market can further hamper productivity, often requiring increased investment in training.
Despite these obstacles, progress is being made in the Liberian banking sector, with a more competitive landscape making it easier for SMEs to secure necessary funding. There are currently nine retail lenders in Liberia actively competing for market share, driving innovation, delivering better customer service and providing more attractive lending rates.
This competition is most evident in Liberia’s major urban centres, where banks are striving to attract business customers through innovative digital-banking solutions, competitive lending rates and enhanced customer service.
Jacqueline B. Williams-NTow, Chief Executive Officer, International Bank (Liberia) Limited (IBLL)
A standout customer-centric approach in a competitive market
Among those competing lenders, IBLL has consistently distinguished itself in recent years, demonstrating its resolute commitment to local SMEs. While other lenders may provide more standardised solutions, IBLL’s dedication to personalised, customer-centric banking ensures long-term loyalty and strengthens its reputation as Liberia’s bank of choice for businesses and individuals alike.
Chairman, International Bank (Liberia) Limited
“At IBLL, innovation is not just about technology; it is about designing personalised solutions that work for small businesses,” according to the bank’s board chairman, Mr. Pa Macoumba Njie.
For over six decades, IBLL has stood by Liberia’s retail and business communities, growing stronger with each generation. Led entirely by Liberians, IBLL’s leadership brings local insight and a genuine understanding of what Liberian businesses need to succeed. This perspective enhances their understanding of the diverse and evolving needs of SMEs operating in Liberia, reinforcing their commitment to meeting those needs with care and expertise. In doing so, IBLL has built lasting relationships rooted in trust, ensuring that Liberian businesses receive the dedicated support they deserve.
Extending access to affordable financing
It should come as no surprise that access to affordable, long-term financing remains the most pressing challenge for Liberian SMEs in 2025. Simply put, small businesses require well-designed loan products with flexible terms to support their growth. Yet in Liberia’s relatively small local market, capital is often a scarce—and expensive—commodity. And with widespread requirements for borrowers to pledge hugely prohibitive levels of collateral to acquire such funding facilities, the funding process for SMEs has become even more restrictive.
In response, IBLL strives to work closely with its business customers to create highly bespoke financing solutions that provide the flexibility and value required for growth. By earning the trust of its SME clients and tailoring solutions to meet a diverse range of banking needs, IBLL continues to deliver personalised, relationship-driven solutions with unwavering consistency. This dedication ensures that businesses and entrepreneurs receive exceptional banking experiences at all times.
Delivering innovative, convenient and highly personalised digital banking experiences to SMEs
In an increasingly digital world, it is no surprise that Liberia’s SME community is seeking online and mobile banking solutions that boost convenience, transparency and efficiency in managing their finances. Retail banking in Liberia is poised for significant transformation in the coming years, fuelled by advancements in technology, increased financial inclusion and a growing emphasis on the overall quality of the customer experience.
The expansion of digital banking solutions will play a central role in driving this progress, and IBLL is exceptionally poised to lead the way. By launching ambitious growth initiatives, IBLL has delivered an impressive average annual income growth rate of 13.3 percent and has remained consistently profitable since 2008. IBLL stands alone as the only bank in Liberia to have maintained positive net revenues for more than 15 years.
Mr. Stephen D. Cashin, Director International Bank (Liberia) Limited
Building on this strong track record, IBLL continues to invest in robust IT (information technology) infrastructure and innovative digital platforms, backed by deep expertise in SME, retail and digital banking. This, combined with its unwavering customer focus and loyal client base, ensures that IBLL remains at the forefront of Liberia’s digital-banking revolution—enhancing services, expanding reach and driving greater financial inclusion nationwide.
Specifically, online banking services have undergone a dramatic expansion in recent years, with enhanced digital platforms providing customers with access to a broad range of services, including fund transfers, bill payments and account management, from the comfort of their own homes. The bank has also developed a user-friendly mobile-banking service that has proven to be a major hit among customers. By simply dialling the USSD code *722#, customers can check their account balances, transfer funds, pay bills, top up airtime and manage their accounts seamlessly.
Data-analytics capabilities have also been upgraded, with IBLL now leveraging big data to deliver deeply personalised banking experiences for each customer and tailor products to meet individual customer needs. To further accelerate its digital transformation and better serve its clients’ evolving needs, IBLL has partnered with several leading fintech (financial technology) and telecommunications companies. These collaborations are instrumental in enabling the bank to deliver innovative financial products and services that go beyond traditional offerings and adapt to changing customer expectations.
Mr.Pa Macoumba Njie Board Chairman International Bank Liberia Limited
“Our strength is in collaboration. By partnering with others, we are creating a robust ecosystem that enables small businesses to thrive,” IBLL’s chief executive officer, Jacqueline B. Williams-NTow, explained.
Looking ahead, IBLL is also preparing to integrate advanced artificial intelligence (AI)-powered solutions to enhance its growing suite of digital services. Plans include deploying AI-powered virtual chatbots to deliver faster and more responsive customer service, as well as implementing fraud-detection systems for enhanced security and predictive data analytics to understand client needs better and streamline operations. The bank recognises AI’s transformative potential to drive advances in how products and services are developed for SMEs.
IBLL is exploring ways to integrate AI technologies across several key areas of its operations, aiming to elevate the customer experience and improve operational efficiency. Through these initiatives, IBLL expects to deepen customer engagement, streamline operations and maintain its competitive edge amid a rapidly evolving banking landscape.
Providing assurance to clients through robust security and risk-management implementations
With money laundering and fraud among the most pressing concerns in 2025—especially as financial crimes grow more sophisticated worldwide—IBLL acknowledges that robust cybersecurity measures must be in place to protect the bank’s integrity and its customers’ assets.
The bank has thus implemented technologies such as Fircosoft and Acuity and integrated anti-money laundering (AML) solutions for continuous screening, transaction monitoring, anomaly detection and enhanced cybersecurity protocols, including multi-factor authentication (MFA) and encryption. The bank has also implemented robust, advanced identity-verification measures, such as biometrics and two-factor authentication, to protect customer data and transactions.
These measures not only strengthen the bank’s defences against illicit activities but also ensure compliance with international regulatory standards. IBLL’s significant investments in cybersecurity reinforce its commitment to protecting its networks, securing sensitive data and giving its business clients confidence in the safety of their assets at all times.
Expanding access to financial literacy and educational resources
Across Liberia’s banking sector, there is now widespread recognition of the urgent need for educational programmes to enhance financial-management skills among business owners; the growing demand for such programmes from SME customers reflects this trend.
Anticipating this growth, IBLL has taken the lead in providing personalised financial products and educational resources to customers, ensuring they are well equipped to navigate their banking requirements effectively and efficiently. The bank has also launched financial-literacy programmes that focus on educating local communities on essential financial topics, such as banking, savings and investment strategies.
Delivering a highly personalised customer service
Given the wide variety of SME business types in Liberia, it has become increasingly important for banks to offer services that truly reflect each customer’s unique circumstances. As such, many SMEs are placing greater value on building steadfast relationships with dedicated banking representatives who can understand their unique challenges and aspirations.
IBLL’s commitment to its customers goes beyond offering tailored services and educational resources—it is reinforced by a relationship-driven approach that allows the bank to truly get to know its customers and align its services with their evolving needs. By leveraging big data and advanced analytics, IBLL can further develop solutions that are finely tuned to meet each customer’s distinct needs and preferences.
Bank (Liberia) Limited
“Every SME we support represents a dream, a family, a future. At IBLL, we take pride in that responsibility,” IBLL’s director, Stephen D. Cashin, recently stated.
Emphasising the importance of financial inclusion, ESG and responsible banking
As sustainable finance becomes increasingly important to the global banking industry, IBLL is pioneering the integration of ESG (environmental, social and governance) principles into its banking business model at every opportunity. This commitment is reflected in its focus on responsible lending practices, social responsibility and ensuring robust corporate governance.
For example, the bank provides sustainable loans to support environmentally friendly projects, such as renewable-energy initiatives and energy-efficient home improvements. In addition, the bank prohibits financing projects or businesses that adversely impact the environment, including improper waste disposal, and projects that are hazardous to the community.
IBLL’s customers also have access to investment products that prioritise companies with strong ESG credentials, making it easier for them to align their financial goals with their personal values. At the same time, the bank upholds transparent governance structures to ensure ethical decision-making and accountability—an approach that has continued to strengthen customer trust.
The growing popularity of IBLL’s ESG initiatives reflects an increasing awareness and demand for sustainable-banking solutions throughout Liberia. Customers value the opportunity to contribute positively to society whilst managing their finances responsibly.
Fully embracing this shift, IBLL continues to demonstrate its support for sustainable solutions wherever possible. For instance, it has already invested in solar-panel installations to provide clean power for its ATMs (automated teller machines). Reinforcing its commitment to gender equality in the industry, the bank has also implemented a pioneering “2X Criteria”, which strives for at least 50 percent female participation in the bank’s leadership positions at both executive management and board levels.
IBLL proudly boasts a leadership team of three Liberians, two of whom are women.
Broader impact through community engagement
Moreover, IBLL’s positive impact extends beyond banking alone. Through pivotal community-engagement initiatives, the bank is strengthening its role as a development partner, thereby going well beyond the areas of involvement of a typical financial institution. As previously mentioned, IBLL has launched powerful social-responsibility initiatives, including financial-literacy programmes that help local communities build their knowledge of banking, saving and smart investing.
The bank actively supports health initiatives, such as sponsoring the cancer unit at the country’s largest hospital, which provides essential services to cancer patients, particularly women and children. Additionally, the bank sponsors orphans at the SOS Children’s Village, aiding their development through college and fostering independence. And during major pandemics (Ebola and COVID-19), the bank contributed to various community agencies, including orphanages, with the most impact.
Such efforts not only strengthen the bank’s reputation, but they also significantly advance the socio-economic development of the communities it serves.
Overall, IBLL is exceptionally well positioned to remain at the forefront of SME and retail banking in Liberia for years to come. Its track record of proactive adaptation, strategic investment and unwavering focus on customer relationships ensures that the bank will continue to thrive in an ever-evolving landscape. Backed by its strong reputation, deep local expertise and steadfast commitment to innovation and sustainability, IBLL stands ready to lead Liberia’s banking sector into a future of inclusive growth and shared prosperity.
