MONROVIA, Liberia — The Central Bank of Liberia (CBL)held a one-day stakeholders’ meeting on June 30 in Monrovia to begin consultations on the second phase of the National Financial Education Campaign.
The meeting, held at the CBL headquarters, brought together representatives of commercial banks, financial institutions, universities, the Ministry of Youth and Sports, the Federation of Liberian Youth and other stakeholders.
Participants reviewed the first phase of the campaign and discussed priorities for expanding financial education efforts nationwide.
CBL Deputy Governor for Operations Dr. Musa Dukuly said the first phase reached all 15 counties through community outreach activities aimed at improving financial literacy.
Dukuly said the next phase would require stronger collaboration among stakeholders and continued efforts to provide Liberians with practical financial knowledge. He said expanding financial education could also support the use of digital financial services, including among market women and underserved communities.
Cllr. P. Alphonsus Zeon, head of Corporate Communications and chairman of the Financial Education Working Group, said the second phase would focus on partnerships to broaden the campaign’s reach.
“We intend to broaden the scope of our partners to enhance the implementation of the financial education program,” Zeon said. “An expanded pool of partners will make the delivery of this program more impactful. That is why we are engaging all of you today — to gather your ideas and strengthen this important national initiative.”
Madam Lisa Diasay, president of the Female Journalists Association of Liberia, presented findings from an endline assessment of the first phase.
Diasay said positive public perception of the CBL increased from 44 percent at baseline to 55 percent at endline. She said saving practices increased from 77 percent to 88 percent, investment practices rose from 68 percent to 86 percent, and the share of Liberians who reported setting financial goals increased from 55 percent to 79 percent.
She said the findings showed improvements in financial knowledge, behavior and public confidence following the campaign.
“As the Central Bank of Liberia and its partners continue to expand financial education initiatives nationwide, our shared goal remains to build a financially literate population that is empowered to save, invest, plan for the future, and contribute to a stronger and more inclusive economy,” Diasay said.
Stakeholders also discussed ways to expand outreach, increase participation and ensure that financial education reaches more communities.
The CBL said it would continue working with government institutions, financial sector stakeholders, development partners, educational institutions and civil society organizations to promote financial literacy and financial inclusion.
