Although the project to activate mobile money services in Liberia started with EcoBank in 2012, the service completion has only now been announced.
Tebogo Mogapi, chief executive officer at LoneStar Cell MTN, said: “The service is useful, especially for people who have their relatives living in rural communities,” Technology Banker reported.
He added the global usefulness of the service also adds to the success of its activation in Liberia.
Orogun, managing director of GTBank, said: “The banking sector is evolving, and as such, it needs the business world to enhance modern banking.”
The director also feels mobile money puts the rural residents on the same level as the population.
As the first bank to offer mobile money services, GTBank has expressed its gratitude to the Central Bank of Liberia, which has assisted in operations.
Orugun is also approaching other financial institutions in the hope to gain programme partners in collaboration with LoneStar Cell MTN.
HumanIPO reported on GTBank's mobile money launch in Nigeria in February this year.