The Central Bank of Liberia (CBL), in collaboration with the Mojaloop Foundation, ThitsaWorks, and The AfricaNenda Foundation, has launched the Liberian Inclusive Instant Payments System (IIPS). This new real-time interoperable payments platform is designed to digitize the national economy and enhance financial inclusion across the country.
The launch marks a significant milestone for Liberia, with the system being the first real-money deployment of Mojaloop v17 globally. This version provides the country with advanced cross-border and fintech integration capabilities.
Rapid deployment and interoperability
One of the standout features of this project was its speed; the system was deployed in just 73 business days, making it the fastest Mojaloop implementation to date.
The IIPS will principally enable interoperability between Liberia’s two major Mobile Network Operators, Lone Star Cell MTN and Orange Liberia. Historically, the lack of interoperability in Liberia’s cash-heavy economy forced citizens to carry two phones to transact across different networks. The new system removes this friction, allowing for seamless mobile money transfers.
Steve Haley, director of market vevelopment at The Mojaloop Foundation, commented: “We are thrilled to see IIPS deployed with such speed. Completing the first Government-to-Person (G2P) use case in 73 days and delivering Person-to-Person (P2P) capability in 111 days, culminating in a fully interoperable platform connecting Lone Star Cell MTN and Orange Liberia is a phenomenal and unprecedented achievement.”.
Advancing financial inclusion
Liberia has already made strides in financial access, with account ownership reaching 52 per cent in 2024, surpassing its 50 per cent target. This growth has been largely driven by the rapid adoption of mobile wallets, which now number over 11 million. The IIPS aims to build on this by integrating all key market participants, including commercial banks, microfinance institutions, fintechs, and government agencies.
The system is expected to significantly improve efficiency for government payments. Processes such as salary disbursements, which previously took up to seven days, will now be completed in seconds.
Miatta Kutteh, director of payment systems at the Central Bank of Liberia, stated: “To remain on par with our neighbors, we knew we needed to fully digitize Liberia’s economy. Implementing IIPS is the first major step toward establishing a national electronic switch that integrates all market participants. Interoperability has been one of Liberia’s greatest challenges, especially for rural and underbanked communities. Mojaloop gives us a modern, open and secure infrastructure to drive change.”.
The project also highlights the growing capability of the Mojaloop community. ThitsaWorks, a Singapore-based partner, played a lead role in the implementation, demonstrating how domestic and regional partners are becoming primary implementors of the technology.
The official launch ceremony took place today at the Ministerial Complex in Congo Town, with His Excellency President Joseph Nyuma Boakai, Sr. delivering the keynote address. The event reaffirmed the Government of Liberia’s commitment to digital transformation under its ARREST Agenda.
The new system will eventually enable integration across Liberia’s nine commercial banks and connect with regional systems like the Pan-African Payment and Settlement System (PAPSS), laying the groundwork for broader financial resilience and innovation.