• The Central Bank introduced IIPS to enable instant mobile money transfers between MTN and Orange.

• The system cuts salary processing from seven days to seconds, improving efficiency and transparency.

• IIPS supports the 2025–2029 Strategic Plan, with account ownership rising to 52% in 2024.

The Central Bank of Liberia (CBL) on December 16 launched the Liberian Inclusive Instant Payments System (IIPS), a real-time interoperable platform designed to connect the country’s two major mobile network operators. The system was developed in partnership with the Mojaloop Foundation, Singapore-based ThitsaWorks, and the AfricaNenda Foundation.

The launch event, held at the Ministerial Complex in Congo Town, brought together stakeholders from across Liberia’s financial sector. President Joseph Nyuma Boakai, Sr. delivered the keynote address, highlighting the government’s focus on digital transformation.

According to Steve Haley, Director of Market Development at the Mojaloop Foundation, the platform offers a cost-effective and rapid deployment alternative to traditional systems. He noted that limited interoperability had previously required many Liberians to use multiple mobile phones to access different mobile money services.

The IIPS enables direct mobile money transfers between Lone Star Cell MTN and Orange Liberia, addressing a longstanding interoperability gap. The system is expected to improve the efficiency of government payments, including salaries and social benefits, by reducing processing times from several days to seconds.

The platform will integrate with Liberia’s Real-Time Gross Settlements (RTGS), Automated Clearing House Electronic Funds Transfer (ACHEFT), and the Pan-African Payment and Settlement System (PAPSS), forming a national electronic switch.

The launch comes amid broader efforts to expand financial access in Liberia. As of 2024, account ownership stood at 52%, according to the Global Findex Database 2025. The IIPS is seen as a key component in advancing digital financial inclusion.

The initiative aligns with the CBL’s Strategic Plan 2025–2029, which emphasizes the use of technology to support macroeconomic stability and inclusive growth. The plan outlines five strategic pillars: price stability, regional integration, operational efficiency, financial stability, and digital financial services.

Miatta Kutteh, Director of Payment Systems at the CBL, described the IIPS as a foundational step toward a fully digitized financial ecosystem that integrates all market participants.

Hikmatu Bilali