The Central Bank of Liberia (CBL) has revealed its Strategic Plan for 2025–2029. The bank outlined reforms aimed at achieving macroeconomic stability and inclusive growth.
Valued at $63.32 million, the five-year plan focuses on five key areas: domestic price stability, financial stability, digital financial inclusion, regional integration, and operational efficiency.
Governor Henry F. Saamoi, during the presentation to donor partners, emphasized the plan’s theme: “Optimal Use of Technology for Macroeconomic Stability and Inclusive Growth.”
He highlighted ongoing efforts to integrate mobile money operators as part of the National Electronic Payment Switch (NEPS), which is scheduled for completion by December 2026.
NEPS is a significant step towards financial digitization which aims to enable seamless transactions across platforms.
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The strategic plan was developed with contributions from various stakeholders, including banking associations, credit unions, and rural financial institutions.
Governor Saamoi said the importance of these collaborations, noting that the plan is designed to address the entire financial ecosystem’s needs.
The broader goal, he stressed, is to leverage technology to build a modern, resilient financial system capable of withstanding shocks and fostering trust in Liberia’s financial institutions.
“The plan reflects the input of all stakeholders—including the Liberia Business Association, the Liberian Bankers Association, credit unions, village savings and loan associations, and rural financial institutions. While it is a plan for the Central Bank, we felt everyone’s input was crucial, because our aim is to address the needs of the entire ecosystem”, Saamoi said.
To support implementation, the African Development Bank and World Bank have pledged funding for critical projects like the NEPS, credit reference bureau, and a credit facility. However, a $41 million funding gap remains. The CBL has allocated $6.31 million from its own resources and appealed to donor partners for further support.
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Representatives from the U.S. Embassy, UNDP, EU Delegation, and African Development Bank praised the plan’s ambition and pledged support, particularly for initiatives promoting financial inclusion, SME development, and economic resilience.
