Liberia might be lagging behind its counterparts in the sub region and the African continent regarding the move to digital economy or digital financial transitions, but there are signs that the transition could be made sooner than later if the government can work on a few policy issues and adapt a robust regulatory framework, a new research has said.
The findings of the research, which was conducted by the Center for Policy Action and Research (CePAR) recently, revealed that there are high possibilities that the country can move to a cashless economy with most, if not all monetary activities being done via digital financial service platforms such as Mobile Money, TipMe and other mediums.
Digital Financial Services (DFS) products usage is growing in Liberia, the findings say, and this is in keeping with a similar trend observed within the Sub-Saharan Africa (SSA) region. More women tend to be going digital than men with 55% of women having mobile money accounts, while men account for 45%. And most of these women are entrepreneurs.
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The findings of the research, which was conducted by the Center for Policy Action and Research (CePAR) recently, revealed that there are high possibilities that the country can move to a cashless economy with most, if not all monetary activities being done via digital financial service platforms such as Mobile Money, TipMe and other mediums.
Digital Financial Services (DFS) products usage is growing in Liberia, the findings say, and this is in keeping with a similar trend observed within the Sub-Saharan Africa (SSA) region. More women tend to be going digital than men with 55% of women having mobile money accounts, while men account for 45%. And most of these women are entrepreneurs.
Read more
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