Minister of Post and Telecommunications and Post Master General, Cllr. Cooper W. Kruah, has called on the Central Bank of Liberia (CBL) to grant the final operational license to Transxnd, a financial, global institution to carry out full operation in Liberia. Minister Kruah made the appeal on Wednesday, March 29, 2023 at the Post and Telecommunications Ministry during the official lunching of the Postal Financial Services Project.
Minister Kruah said the coming of Transxnd to the Ministry of Post and Telecommunications is a boost to ministry because, since the detachment of the Liberia Telecommunications Authority (LTA) from the ministry, there has been no program in the ministry to generate funds so as to contribute to government’s revenue. According to him, only the regulatory function of the ministry was left with just sending and receiving mail.
He emphasized that he and his deputies and assistant ministers have been working very hard to develop a program that will generate funds for government. Since they took over under the Coalition for Democratic Change (CDC)-led Government, Cllr. Kruah asserted, the ministry’s contribution to the national budget has been very little and, therefore, the coming of Transxnd will boost the ministry in its support to the national budget. With the coming of Transxnd, he claimed that the ministry will be able to contribute a million United States dollars-plus to the national budget.
Moreover, Cllr. Kruah indicated that the Postal Financial Services Project is a government project and, therefore, Post and Telecommunications alone cannot claim the glory. He told the gathering that the Ministry of Finance and Development Planning and CBL played critical roles in getting Transxnd to Liberia. He averred that the ministry is completely satisfied with the performance of Transxnd, and so CBL should waste no time in granting the final operational license.
For his part, the CEO of Transxnd, Olalekan Lawal, thanked the Government of Liberia (GOL), through the Ministry of Post and Telecommunications, for the cooperation to have the Postal Financial Services Project launched. The Transxnd CEO stated that the institution, which is global, is here to drive financial improvement. He maintained that Transxnd is affordable and intends to go across Liberia through the existing post offices in the counties. “Transxnd is here to bring financial services to communities,” he disclosed.