By Alva M. Wolokolie
Guaranty Trust Bank Limited (GT Bank), one of the leading financial service providers in the country and other parts of West Africa has officially begun the transaction of Mobile Money in partnership with Lonestar Cell MTN.
At the official launch of the GT Bank to Mobile Money Platform yesterday, the Managing Director of GT Bank Liberia Mr. Dan Orogun said the official launch of Mobile Money at GT Bank is an initiative that would assist his entity achieves more. He indicated that banking and technology usually worked together and so the introduction of mobile money will help people in both the rural and urban areas to have access to cash, pay bills and transact business regularly.
Mr. Orogun described the partnership with Lonestar Cell MTN as being a good one which would contribute to the growth of the country economy and ensure that customers get the best services provided for their daily financial transaction.
For his part, the CEO of Lonestar Cell Mr. Tebogo Mogapi said he was excited to announce that the company has introduced one of its services which is mobile money. He said the product is based on the latest technology introduced in continuation of Lonestar Cell MTN’s efforts of keeping Liberia abreast of modern technology.
Lonestar Cell MTN, Liberia’s first and leading GSM company with subscribers in all 15 political sub-division in the country has introduced a product on the Liberian market-Mobile Money to one of the countries fast growing financial institutions, GT Bank Liberia.
Mr. Tebogo Mogapi said he was excited to announce that the company has introduced one of its services which is mobile money. He said the product is based on the latest technology introduced in continuation of Lonestar Cell MTN’s efforts of keeping Liberia abreast of modern technology.
Mr. Mogapi explained that Mobile Money is a cash management service through the use of the mobile phone which is a new century innovation service successfully used in emerging markets, including many other countries where MTN operates.
The Lonestar cell CEO disclosed that Mobile Money was officially launched commercially in Liberia in partnership with Ecobank Liberia with the full approval of the Central Bank of Liberia about a year ago.
He said statistics show that just about only 10% of Liberians have bank accounts while over 40% of the population has mobile phones. So with difficult roads and limited formal banking facilities around Liberia, Mr. Mogapi said Mobile Money provides the opportunity for more Liberians, particularly in the rural areas to have access to cash, transfer money, pay bills, do business and improve their lives economically.