MM4P began its activities in Liberia in 2012, working with the Central Bank of Liberia to revise the mobile money regulations that were approved in 2014.
With a single Digital Finance Expert in country, MM4P initiated projects with several stakeholders in 2014, which were halted due to the outbreak of the Ebola virus disease. Subsequently, MM4P joined forces with the UN Ebola Emergency Response to facilitate payments to Ebola health workers, maintaining a presence during most of the crisis. In 2015, MM4P renewed its support to the central bank to accelerate the digital finance ecosystem, working with providers to improve their distribution channels, supporting the digitization of a range of payments as well as the growth of female agents. In September 2016, MM4P launched a national Working Group on Digital Finance with the primary objective of providing a platform for collaboration among the private sector, and between the private sector and the government. MM4P also contributed to draft the Agent Banking regulations and conducted an inventory of government payments to encourage the digitization of the same. Yet, the nascent sector faces many challenges, including low agent network penetration and low customer awareness, adoption and use. Liquidity management is another major issue in Liberia’s rural areas, where banking footprint is very limited.
MM4P was generously supported by Sida and USAID for its work in Liberia. Due to lack of funds, MM4P ceased its operations in-country in 2017.