The Multi-National Credit Union (MNCU) has inaugurated its fourth regional headquarters, under a micro-finance project implemented by the World Council of Credit Unions (WOCCU) toward providing access to credit in rural Liberia. Situated in Bomi County, the facility is referred to as
MNCU Region 1 headquarters, serving Bomi, Montserrado, Grand Cape Mount and Gbarpolu Counties.
Central Bank of Liberia (CBL) Executive Governor, Dr. Joseph Mills Jones, who served as keynote speaker at the program on Saturday, May 30, received a rousing welcome from hundreds of business women, motorcyclist and carpentry union members, as well as students all along the route from Klay Junction, Total Gas Station to the Bomi County Community College where the indoor program was held.
Dedicating the newly established facility in Bomi, Governor Jones assured the people that financial inclusion will reach all of Liberia’s 15 counties.
He said poverty is not the destiny of Liberians, therefore “we must begin by doing something now to change the course of our economic history.”
The CBL boss said the economic future of the country rest on the shoulders of its citizens and as such, Liberia needs to create an enabling environment where the people can have access to finance through credit.
“This demonstrates our prime belief that as we move along the path of development, we must see our country as one nation moving along together, step by step, in economic development,” Dr. Jones told the audience. “Economic development is about unity, a shared vision and a common political will. That is what Liberia is all about.”
Chief of Party (COP) of the World Council of Credit Union (WOCCU), Patrick Muriuki acknowledged Governor Jones and the entire staff of the CBL for their commitment to the economic empowerment Liberians. “The economic future of Liberia cannot be achieved if the citizens are not empowered,” he said.
Mr. Muriuki disclosed further that all credit unions operating in Liberia will shortly be audited to ensure accountability to its members, and in keeping with international standards.
For his part, Board of Director of the Liberia Credit Union National Association (LCUNA), Saye J. Biyie, said that under the WOCCU project, US$ 2.4 million will be spent in four years to revitalize credit union activities in Liberia.