Dr. Clarence Moniba and The Moniba Foundation have officially launched a L$25-million program to support market women and petty traders across Liberia, providing zero-interest growth loans to small-scale entrepreneurs who form the backbone of the country’s informal economy.
The initiative, one of the largest grassroots economic support programs in the country’s recent history, is grounded in the belief that financial access is inseparable from human and national development.
Unlike conventional microcredit schemes, the Zero-Interest Growth Loan is structured to expand with its participants. When groups repay their loans, they receive an additional 10 percent on top of their original disbursement and become eligible for a larger subsequent loan, rewarding financial discipline and enabling them to invest more fully in sustaining and growing their businesses.
“Market women and petty traders are driving our local economy… this is our way of standing behind the women and petty traders who keep our markets alive. We believe in their potential, and we are supporting them to scale,” Dr. Clarence Moniba, Chair, The Moniba Foundation, noted.
Since the program’s rollout, over L$1 million of the total fund has already been disbursed to five beneficiary groups in Monrovia, Paynesville and Kakata, with additional groups to be identified in the coming weeks.
A defining feature of the program is its built-in accountability structure. Groups that submit a full impact report within six months of receiving their loan will qualify for a 10 percent top-up on their disbursement, paid directly by the Foundation. The mechanism is designed to reward financial discipline and responsible stewardship, and to encourage beneficiaries to document the real change the program is generating in their businesses and households.
The Foundation noted that the model reflects its broader ambition to build a culture of accountability and transparency at the grassroots level.
“We cannot grow as a country if the women and petty traders who run our markets and keep our communities moving are left behind. When we invest in our people, we are investing in the entire economy,” Dr. Moniba observed.
The program addresses a well-documented gap in Liberia’s financial landscape. Women make up the majority of petty traders and informal market operators across sub-Saharan Africa, yet most have historically been excluded from formal financial services due to the absence of collateral, credit history or proximity to banking institutions. The World Bank has noted that closing this gap is critical to inclusive economic growth. By tying loan growth directly to repayment and impact reporting, the Zero-Interest Growth Loan model builds financial inclusion from the ground up, replacing dependency with discipline and expanding access as participants demonstrate results.
Research across the region consistently shows that women reinvest financial gains into children’s education, healthcare and family welfare at higher rates than men, amplifying the broader community impact of programs that target the informal sector.
Additional disbursements will continue in the coming months as the program scales toward its full L$25 million commitment.
