Published: July 30, 2026
MONROVIA – Calls for stronger legislative reforms, expanded access to finance, and greater support for women entrepreneurs dominated the opening of the National Conference on Women’s Financial Inclusion, as former President Ellen Johnson Sirleaf, senior lawmakers, government officials, financial regulators and development partners outlined a roadmap to unlock women’s economic potential and accelerate Liberia’s economic transformation.
The two-day conference, organized by the Africa Women Leaders Network (AWLN) Liberia Chapter in partnership with the Central Bank of Liberia (CBL) and other partners, officially opened Wednesday at the Ministerial Complex in Congo Town under the theme: “Catalyzing Access. Unlocking Enterprise. Advancing Liberia.”
The gathering attracted more than 200 participants, including women entrepreneurs, lawmakers, commercial banks, development partners, civil society organizations, regulators and private sector leaders to explore practical strategies for improving women’s access to finance and increasing their contribution to Liberia’s economy.
AWLN Calls for Practical Solutions
Delivering the welcome remarks, AWLN Financial Inclusion Pillar Co-Lead Leigh-Ann L. Best said the conference was intentionally designed to move beyond dialogue and produce measurable outcomes for women entrepreneurs.
She said participants will engage commercial banks, mobile money providers, insurance companies and financial regulators to better understand how to open bank accounts, obtain loans, purchase insurance, formalize businesses and benefit from digital financial services.
Best emphasized that financial inclusion extends beyond access to credit.
She said women must also gain access to insurance, digital finance and other financial products capable of helping them build resilient and sustainable businesses.
She described AWLN as a continental network of African women leaders working across governance, business, law and development to advance women’s leadership and economic empowerment.
Government Seeks Sustainable Financing
Representing the Ministry of Gender, Children and Social Protection, Deputy Minister Laura Golakeh said financial inclusion should empower women to build wealth rather than simply gain access to bank accounts.
She stressed that government wants women-owned enterprises to move beyond survival businesses into competitive enterprises capable of creating jobs and strengthening the national economy.
Golakeh highlighted the Liberia Women’s Empowerment Project (LWEP), supported by the World Bank, which is assisting more than 36,000 women-led enterprises across six counties through Village Savings and Loan Associations, farmers’ organizations and women-owned businesses.
While acknowledging the impact of grants, she said Liberia must now prioritize long-term financing that enables women entrepreneurs to expand their businesses sustainably.
She also proposed creating a specialized financing institution dedicated to supporting women entrepreneurs and young innovators.
Sirleaf Urges Confidence, Responsible Leadership
Making special remarks, former President Ellen Johnson Sirleaf underscored the importance of confidence, accountability and responsible governance in expanding women’s financial inclusion and attracting investment.
Sirleaf praised Liberian women for demonstrating strong financial discipline, noting that women have consistently built confidence within financial institutions through their willingness to repay loans.
She encouraged women entrepreneurs to strengthen their businesses by organizing effectively, pricing their products appropriately and ensuring that borrowing costs remain consistent with government regulations.
The former president said sustainable economic growth depends largely on public confidence in national leadership.
According to her, governments must demonstrate discipline, integrity and credibility if they expect citizens, investors and international partners to have confidence in the country’s future.
She also stressed that Liberia must create a transparent investment climate where investors are assured of fair returns while the country simultaneously secures its rightful share of national wealth.
Sirleaf further emphasized that national progress requires mutual trust between citizens and government, arguing that confidence remains one of the strongest foundations for ethical business practices, economic growth and private sector investment.
Sen. Konneh Pushes Informal Economy Bill
Making special remarks, Gbarpolu County Senator and Co-Chair of the Senate Banking and Currency Committee Amara Konneh unveiled progress on the proposed Informal Economy Development and Protection Act of 2026, describing it as one of the Senate’s most ambitious efforts to transform Liberia’s informal economy.
Sharing his personal story of growing up in a household where his mother operated a small business, Konneh acknowledged the critical role women entrepreneurs play in sustaining families and driving economic activity.
He disclosed that he has already secured eight of the 15 votes required to place the bill before the Senate for consideration and is continuing consultations with fellow lawmakers.
According to Konneh, the legislation seeks to simplify business registration for micro and small enterprises, enabling thousands of informal businesses to gain legal recognition and transition into the formal economy.
Legal registration, he explained, would allow entrepreneurs to open business bank accounts, establish credit histories and access formal financing instead of depending largely on grants or informal “su-su” savings arrangements.
A central feature of the bill is the creation of an Informal Economy Development Fund, which would expand financing opportunities for small businesses.
Konneh emphasized that the fund is not intended to provide free money but rather responsible financing that requires accountability and repayment from beneficiaries.
He said implementation would largely be carried out by the Executive Branch, including the Ministry of Commerce and Industry and the Public Procurement and Concessions Commission (PPCC), while legislative oversight hearings would ensure the resources reach legitimate beneficiaries instead of being diverted.
The legislation, he added, specifically prioritizes women entrepreneurs and small business owners, recognizing their contribution to household welfare and national economic growth.
Konneh also said the proposed law would strengthen enforcement of Liberia’s Small Business Empowerment Act by expanding opportunities for Liberian-owned businesses to participate in government procurement.
CBL Calls for Collaboration and Financial Reform
Speaking on behalf of the Central Bank of Liberia, Deputy Governor for Operations James B. Wilfred described women’s financial inclusion as central to Liberia’s long-term economic transformation.
He said sustainable growth requires strong collaboration among financial institutions, regulators, technology companies, business associations and development partners rather than isolated institutional efforts.
Wilfred acknowledged the continued support of international partners in promoting financial literacy and inclusion but called for greater visibility and accessibility of grants, credit guarantees and technical assistance available to entrepreneurs.
He urged stakeholders to move beyond “talking shops” by producing measurable outcomes through business registration, financial inclusion and direct engagement with financial regulators.
According to Wilfred, economic transformation occurs one enterprise at a time through practical milestones such as opening bank accounts, registering businesses and integrating entrepreneurs into the formal financial system.
He noted that Liberia’s expanding digital financial services are rapidly reshaping the country’s financial landscape.
Wilfred said the Central Bank remains responsible for maintaining monetary stability, strengthening payment systems and promoting an inclusive financial system capable of supporting sustainable growth.
He stressed that building a resilient financial sector requires shared responsibility among regulators, commercial banks and entrepreneurs.
The Deputy Governor urged financial institutions to improve risk assessment rather than lowering lending standards, arguing that better risk pricing leads to fairer interest rates that encourage enterprise growth and innovation.
He also encouraged banks to design products specifically tailored to women-owned businesses while advocating legal reforms to address collateral challenges, particularly customary land ownership arrangements.
Among the reforms he proposed are the establishment of a Financial Court and an Insurance Commission to strengthen commercial dispute resolution and reinforce confidence in Liberia’s financial markets.
Wilfred disclosed that recent Central Bank data show women’s participation in commercial credit has increased to more than 25 percent in 2025, demonstrating encouraging progress while highlighting opportunities for further expansion.
He also urged women entrepreneurs to formalize their businesses, maintain accurate financial records, comply with tax requirements and embrace digital financial services to improve their eligibility for financing.
World Bank Highlights Economic Opportunity
World Bank Country Manager for Liberia Georgia Wallen described women’s financial inclusion as essential to economic growth, poverty reduction and job creation.
She noted that although women produce approximately 93 percent of Liberia’s food, they own only about 27 percent of businesses, reflecting persistent barriers to formal financial services.
According to Wallen, achieving greater gender equality would significantly increase women’s contribution to Liberia’s economy.
She highlighted the success of the Liberia Women’s Empowerment Project, which combines financing with business development training and digital financial services.
She also praised the Liberia Investment, Finance and Trade (LIFT) Project, implemented by the Ministry of Commerce and Industry and the Central Bank of Liberia, noting that women-owned or women-managed businesses account for nearly 60 percent of its beneficiaries.
The conference concludes Thursday with panel discussions, financial literacy sessions and direct engagements between women entrepreneurs, regulators and financial institutions aimed at expanding access to banking, insurance, digital payments, investment opportunities and affordable business financing.
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