The Central Bank of Liberia (CBL) has officially released a five-year strategic plan (2025–2029), which Executive Governor Henry F. Saamoi described as a roadmap for economic transformation.
Speaking at the revelation of the strategic plan on Tuesday, May 13, 2025, at the bank’s headquarters on Ashmun Street, Governor Saamoi said the aims to build a resilient and inclusive financial system while leveraging technology for macroeconomic stability in Liberia.
The CBL’s Strategic Plan is anchored on five pillars: price stability, regional integration, operational efficiency, financial stability, and financial inclusion & digital financial services.
The Executive Governor said the plan represents a collective vision for economic transformation and development partners, including representatives from the U.S. Embassy, European Union, African Development Bank, and UNDP.
He further disclosed that the plan is expected to cost US$63.32 million, with current funding commitments from the African Development Bank and the World Bank supporting projects such as the national payment switch credit reference bureau, and line of credit. However, a US$41 million gap remains unfunded.
“We currently have US$6.31 million allocated in our budget for 2025–2026, to succeed we need your continued financial and technical support,” he said.
According to him, a key component of the plan includes the integration of Liberia’s two major mobile money operators by July 2025. This move will lay the groundwork for the launch of the National Retail Payment Switch by December 2026, a step Governor Saamoi said is essential to digitizing the Liberian economy.
“Our goal is to build a modern financial system that can withstand shocks, promote inclusion, and drive long-term growth in our country,” he added.
At the same time, Director of the CBL’s Development Finance Department, Jay Gbleh-bo Brown II, highlighted the inclusive nature of the plan’s design, noting input from local and international stakeholders, including rural communities and Village Savings and Loan Associations across the country.
According to Brown, the plan comes at a critical juncture, following the agreement with the International Monetary Fund on a new four-year Extended Credit Facility.
He said the governor’s call for donor support to implement key reforms, outlined the mission as promoting a resilient and efficient financial system that supports stable monetary growth and sustainable national development.
The CBL will operate under six guiding principles: fairness, inclusiveness, teamwork, transparency, innovation, and efficiency.
Representatives of UNDP Stanley Kamara praised the strategy as forward-thinking and aligned with digital governance and regional integration goals.
Johnathan Hilton, Senior Economic Officer at the U.S. Embassy, said the plan complements President Joseph Boakai’s ARREST agenda and is vital for attracting investment and restoring public confidence in the banking sector.
Solene Coma of the European Union Delegation commended the Governor reform ambitions and reiterated the EU’s commitment to supporting sound macroeconomic governance and private sector growth in the country.