Monrovia, Liberia — Government officials, lawmakers, development partners, financial institutions and women entrepreneurs have renewed calls for greater access to finance, stronger policy reforms and expanded economic opportunities for women as the Africa Women Leaders Network (AWLN) Liberia Chapter, in partnership with the Central Bank of Liberia (CBL), officially opened a two-day National Conference on Women’s Financial Inclusion.
By Patience M. Jones, patience.jones@frontpageafricaonline.com
Held at the Ministerial Complex in Congo Town, outside Monrovia, under the theme: “Catalyzing Access. Unlocking Enterprise. Advancing Liberia,” the conference brought together more than 200 participants to explore practical solutions aimed at removing barriers that continue to limit women’s participation in Liberia’s formal financial system.
Opening the conference, AWLN Liberia Financial Inclusion Pillar Co-Lead Leigh-Ann L. Best said the gathering was intentionally designed to move beyond policy discussions by equipping women with practical knowledge and direct access to financial institutions.
She explained that participants will engage commercial banks, mobile money providers, insurance companies and regulators to learn how to open bank accounts, apply for loans, formalize businesses, obtain insurance and utilize digital financial services.
Madam Best stressed that financial inclusion extends far beyond access to credit, noting that insurance, digital payments, investment opportunities and financial literacy are equally important tools for building sustainable businesses.
Representing the Ministry of Gender, Children and Social Protection, Deputy Minister Laura Golakeh described women’s financial inclusion as an issue of economic power and opportunity rather than simply access to banking services.
According to her, Liberia must move beyond providing small grants and instead create pathways that enable women entrepreneurs to access larger financing opportunities capable of expanding businesses and creating employment.
Deputy Minister Golakeh highlighted the Liberia Women’s Empowerment Project (LWEP), supported by the World Bank, which is empowering more than 36,000 women-led enterprises across six counties through Village Savings and Loan Associations (VSLAs), farmers’ organizations and grants for women-owned businesses.
While acknowledging the impact of grant support, she said the country’s long-term priority should be connecting women entrepreneurs to affordable financing that will allow them to scale their businesses.
She also proposed establishing a dedicated financing institution focused specifically on supporting women entrepreneurs and young innovators with investment capital and business financing.
Speaking on behalf of the Liberian Senate, Senate Banking and Currency Committee Co-Chair, Senator Amara Konneh, pledged legislative support for women entrepreneurs through ongoing economic reforms.
Drawing from his childhood experience assisting his mother, a small businesswoman, Senator Konneh said Liberian women have always been the backbone of the country’s economy and deserve stronger institutional support.
He announced that he and several colleagues are developing the proposed Informal Economy Development and Protection Act of 2026, legislation intended to simplify business registration for informal enterprises, establish an Informal Economy Development Fund and expand access to affordable financing.
According to Senator Konneh, the proposed law will also strengthen enforcement of Liberia’s Small Business Empowerment Act by increasing opportunities for Liberian-owned businesses to benefit from government procurement.
Representing the Central Bank of Liberia, Deputy Governor for Operations, James B. Wilfred, described women’s financial inclusion as a national economic priority.
He praised Liberian women for sustaining families and businesses for generations through informal savings clubs, Village Savings and Loan Associations, market associations and other community-based financial systems long before formal financial services became widely available.
Deputy Governor Wilfred revealed that women’s participation in commercial credit has risen to more than 25 percent in 2025, describing the increase as encouraging while emphasizing that much more remains to be done.
He urged financial institutions to develop products tailored to women’s needs and encouraged women entrepreneurs to formalize their businesses, maintain financial records, comply with tax requirements and embrace digital financial services to improve their creditworthiness.
Addressing the conference, Georgia Wallen, the World Bank Country Manager for Liberia, described women’s financial inclusion as essential to job creation, poverty reduction and sustainable economic growth.
She noted that although women produce approximately 93 percent of Liberia’s food, they own only 27 percent of businesses and continue to face major barriers in accessing formal financial services.
Madam Wallen said achieving greater gender equality could significantly increase women’s contribution to Liberia’s economy and boost national economic growth.
She highlighted the Liberia Women’s Empowerment Project and the Liberia Investment, Finance and Trade (LIFT) Project as examples of initiatives already expanding access to finance, digital financial services and business opportunities for women entrepreneurs across the country.
Also speaking at the conference, United Nations Resident Coordinator, Christine Umutoni, called for a shift from dialogue to concrete action, stressing that women’s financial inclusion is fundamental to expanding economic opportunities, creating jobs and strengthening Liberia’s resilience.
Madam Umutoni said the United Nations, working with the Central Bank of Liberia and several government ministries, has supported digital finance initiatives, Village Savings and Loan Associations and financial literacy programs targeting rural women and informal workers.
Sharing the story of a rural woman who gained financial independence after learning to use digital financial services, she said practical investments in digital literacy are already transforming lives by enabling women to securely manage their finances without relying on others.
Despite recent progress, Madam Umutoni observed that many women—particularly those living in rural communities and women with disabilities—continue to face barriers in accessing credit, collateral, insurance and pension services.
While defending conferences as important platforms for generating ideas and partnerships, she urged government, financial institutions, development partners and the private sector to ensure the discussions produce practical reforms, stronger policies and financing solutions that respond to the realities of women entrepreneurs.
The conference continued Thursday with policy discussions, financial literacy sessions and practical engagements between women entrepreneurs, commercial banks, insurance providers, mobile money operators and other financial institutions aimed at expanding access to banking services, digital finance, investment opportunities and business financing.
Organizers say the expected outcome is a set of actionable recommendations that will strengthen Liberia’s financial ecosystem and ensure more women are able to build, formalize and grow successful businesses that contribute to national economic development.
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