Liberia: Lonestar Cell MTN, CBL launch mobile money service

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The New Dawn in Monrovia reports that Lonestar Cell MTN and the Central Bank of Liberia (CBL) have launched a mobile money service at the Guaranty Trust (GT) Bank of Liberia Ltd.

Cell MTN and the Central Bank of Liberia (CBL) have launched a mobile money service at the Guaranty Trust (GT) Bank of Liberia Ltd. (Image source: laptop credit card via Shutterstock.com)

According to the report the new service is aimed at all citizens, those residing in urban and rural areas.

It is said to represent GT Bank’s contribution to CBL’s financial inclusion strategy and also help bridge the gap between the unbanked and banked communities.

Lonestar Cell MTN’s CEO, Tebogo Mogapi, is quoted in the report as saying that approximately 10% of Liberians have bank accounts and over 40% of the population has mobile phones.


“As we extend this partnership with GT Bank, we opine that mobile money is indeed a usable product that clearly supports the Liberian economy and provides a cashless environment, safe and secure for all subscribers to service. We encourage individuals as well as institutions to subscribe to the service which will greatly improve the efficiency in their payment process to employees and vendors,” stated Lonestar Cell MTN.

* Image via Shutterstock

Staff Writer