Finance Minister Ngafuan Hails Efforts in Digitalizing the Economy; As Payaza, a FineTech Company Launches Operations

 Monrovia, Liberia – The Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, has officially launched the digital payment platform, Payaza Liberia, praising it as a critical initiative that will empower youth, boost business efficiency, and help Liberia "leapfrog" into the modern digital economy.

 

Payaza is a fintech / payment gateway company enabling seamless digital payments and financial services across Africa and beyond.

 

The launch event, held at the Bella Casa Hotel in Monrovia, brought together the Senior Advisor to the President Dr. Augustine Konneh, officials from the Central Bank of Liberia, commercial banks, and technology sector leaders.

 

Minister Ngafuan framed the government's fiduciary duty as one of "lighting candles" to dispel the "darkness" of economic stagnation and inefficiency.

"We are lighting a candle. We are making a change, and we are spending business," the Minister declared. "This initiative is not just good for you, it's also good for us. It's good for the young people of this country. It's good for the economy of this country."

 

Minister Ngafuan stressed that in the current "AI generation," Liberia cannot afford to be left behind. He emphasized the critical importance of speed and efficiency for business profitability and national economic expansion.

 

The finance minister also highlighted other government efforts to modernize Liberia's financial infrastructure. He referenced the recent launch of the Pan-African Payment and Settlement System (PAPSS), which simplifies cross-border money transfers for traders, and the Central Bank's work on interoperability between mobile money services like MTN and Orange.

 

Linking the digital launch to the government's broader agenda, Minister Ngafuan pointed to ongoing infrastructure projects, including road rehabilitation and expansion under the upcoming "Operation Octopus." He argued that these tangible improvements, alongside digital advancements, represent "positive change" for Liberian citizens.

 

Minister Ngafuan expressed his personal optimism about Payaza's potential, urging the company to become a "deeply rooted" significantly contributing to youth employment and business empowerment in Liberia.

 

Speaking earlier, the Chief Executive Officer of Payaza Africa Limited Seyi Ebenezer expressed gladness on the opening of their company in Liberia. 

 

He said, the company provides digital payment solutions, enabling individuals and businesses to send, receive, and manage payments seamlessly across borders. 

 

He added that his company will employ several Liberian youths to offer services such as payment gateways, collections, disbursements, and APIs for financial integration.