The Liberian owned company eWallie recently entered Liberia’s mobile money space with a world class innovative mobile payment solution.
eWallie focuses primarily on the small and medium enterprises (SMEs) and regular consumers.
This strategy opens up huge flexibility for local manufacturers and suppliers of wholesale goods to interact with eWallie users.
Rigorous process for authorization after a rigorous assessment by the Central Bank of Liberia(CBL) that lasted several months, eWallie Chief Executive Officers( CEO,) Abdullah L. Kamara announced in a stimulating conversation with the press that they finally got the greenlight to proceed with operation.
Such a recognition puts eWallie immediately on the world map as a reliable and regulated company that other international players may do business with.
This also opens a huge window for investment opportunities from outside Liberia.
With this achievement, eWallie is now poised to setup operations throughout the lengths and breadth of Liberia and collaborate with several commercial stakeholders.
Mr. Kamara affirmed, “It’s a big relief that the CBL has duly giving eWallie the recognition to operate under the Liberian banking framework.”
Healthy Counterpart for Banks with the enormous challenges faced by traditional banks, the government and mobile money agents to provide consumers their cash when needed, the government has been under serious pressure to find solutions.
This time some companies like Tamma corporation, parent company of eWallie, didn’t wait for government interventions but rather saw opportunity to provide convenient and secured services to the suffering Liberians when most needed.
eWallie Inc. is Liberia’s newest pride. eWallie is a highly user-friendly platform that operates on any network in and out of Liberia and interconnects with any bank based on commercial and technical agreements.
Presently eWallie is already connected with huge international financial institutions like VISACARD and MASTER CARD. eWallie™ is owned by a home-grown Fintech, Tamma Corporation, with a huge ambition to conquer the Mano River Union region and West Africa in general in the very near future.
With 10-years experience in developing innovative solutions for various sectors, this company may set the pace to be Liberia’s first technology exporter. www.ewallie.com eWallie is reshaping the commerce landscape?
Because banks are not always nearer to customers and the safety and convenience is needed when people carry cash, banks, telecom operators and Fintechs have embarked on multiple solutions to bring relief to Liberians and others within the country’s borders.
Today, mobile money services in Liberia are becoming common because it is not only the telecoms companies, Orange and MTN that are operating Mobile Money platforms, but Banks also offer the same services to subscribers regardless of whether they own bank accounts.
Moreover, startups like TipMe, BnB and eWallie are also new entrants to this space and are coming with very interesting Financial Inclusion solutions as well as safe and convenient methods.
These new players are also expanding the scope of the traditional market covered by Banks and Telecoms.
These include cheaper remittance fees, Online shopping, person-to-person transfers, etc…Fintechs services include: sending and receiving money, bills payments School Fees and Hospital bills buying goods and services online point of sales payments at cashier or teller transfers to bank account and mobile wallet payment of salaries, Susu Ticketing Online Store front and more.
CBL may stimulate confidence through the technology adaptation with progressive policies, Ghana boasts of over 70 FINTECHs while Nigeria has over 100 of them operating to facilitate trade. Liberia seems to be just awakening to these new opportunities.
The role of the Central Bank could positively shape the Pro-Poor Agenda for Financial Inclusiveness in Liberia by removing market entry barriers and setting up fair and transparently regulatory framework for the banking sectors.