The Liberian Central Bank has initiated a financial education program at the county level in Bong County, emphasizing both personal finance skills and the Pan-African Payment and Settlement System (PAPSS), a payment network designed for cross-border transactions across African nations.
The three-day event, which concluded on August 6 at the Administrative Building in Gbarnga, attracted over 400 attendees, such as local officials, students, business people, youth leaders, religious representatives, and women’s organizations. The program included cultural shows, engaging talks, and presentations designed to make complicated financial ideas easier to understand. Thirteen individuals finished a comprehensive trainer training workshop and were awarded certificates, signifying the beginning of their efforts to bring financial education to different areas within the county.
The community-driven initiative aims to assist individuals in making well-informed financial choices, such as managing budgets, saving money, and investing. “Gbarnga is not Bong County,” remarked Maraline Tokpa Jawo, human resources manager in the superintendent’s office, while introducing the campaign. “Residents in the districts deserve the same access to information. Knowledge is strength, let’s harness it.” Cllr. P. Alphonsus Zeon, the CBL’s communications director and head of the Financial Education Working Group, encouraged locals to back the educators.
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These are your own children who have received training to provide you with financial knowledge,” he stated. “We encourage you to work with them as they implement Financial Education within your communities.
Trainees committed to conducting sessions in churches, on farms, in schools, and in marketplaces. Local leaders also supported the program. The head of the Village Saving and Loan Association vowed to include financial education in its activities, while Lydia Zeze, the county’s rural women’s chair, stated that the initiative would assist women in managing household income more effectively.
The Bong County Motorcyclist Union described the initiative as “a beacon” for its members, while youth representatives encouraged trainers to focus on schools once classes restart. Alongside teaching personal finance skills, the CBL launched PAPSS, allowing immediate and secure transactions between African nations using local currencies.
Authorities stated that the platform will enable rural business owners to access regional markets with low transportation costs and without requiring foreign currency. The launch in Bong County comes after similar implementations in Grand Gedeh, Lofa, and Nimba counties. The CBL mentioned that this initiative is part of a countrywide effort to ensure every Liberian, regardless of where they live, is financially educated and connected to modern payment methods. By combining community-focused financial education with technology such as PAPSS, the bank seeks to equip Liberians for increased involvement in both the African and global economies.
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Tagged: Liberia, Education, West Africa
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