Nobel Liberia Limited has brought new multifaceted money transfer platform featuring automated teller machines (ATM) through which customers in Liberia can withdraw cash.
The platform, in partnership with the Liberian Bank for Development and Investment (LBDI), is similar to existing money transfer systems in the country, although tailored specifically to Liberia as a niche market.
Nobel Liberia, with head offices on 11th Street in Sinkor, is a 100 percent Liberian-owned business.
Vice President Joseph Nyumah Boakai Sr., who launched the program yesterday, urged Liberians to take full ownership of the country and its economy by venturing into different types of businesses across the country.
When we do this, VP Boakai believes, Liberians would be on the way to taking full ownership of their country. “Because, if one can open doors of opportunities that will create jobs for others; then that person has begun to take ownership of his or her country.”
Ambassador Boakai reiterated his call to all Liberians irrespective of status to patronize Liberian-owned businesses. Some of them, he said, will begin small, “but we have to help them to grow by patronizing them regularly.”
“We want to congratulate Nobel, particularly Jallah Kesselly, for his optimism that Liberians can be involved in adding value to our local commodities that will create jobs and opportunities for others,” he said.
The Unity Party’s (UP) 2017 standard bearer assured the Nobel management that the government is on board with them and as such, “we will do everything to encourage investors in the country.”
“Today, we are proud to be here to see what Liberians are doing. It is an encouragement for other investors… that Liberia is still a place for investment,” Ambassador Boakai added.
Kesselly, president and chief executive officer (CEO) of Nobel Liberia, said the company is entering the country’s financial and imports market to provide affordable, high-quality products and services to the average Liberian, both at home and abroad.
“Our financial services are facilitated by a strategic partnership with the LBDI through which we will be providing very competitive money transfer services in Liberia along with 24-7 ATM banking services. Our goal is to have ATM machines at all LBDI branches across the country,” Kesselly said.
He further disclosed that the money transfer service provides international remittances to Liberia from the United States via their U.S. partner entity, Nobel Financial Inc, a duly licensed money transmitter across multiple U.S. States.
According to him, through the partnership with LBDI, receivers of Nobel money transfers can have their funds loaded onto an ATM card without going through the stress of standing in long queues to get their cash.
He pointed out that with the ATM card bank account, “the goal of this innovation is to encourage Liberians in the U.S. and their relatives in the country to bank with LBDI.”
He said anyone banking with LBDI that meets the bank’s criteria will be eligible to receive the ATM debit card.
“For the money transfer services there are currently five branches that are available to make payouts, including the LBDI headquarters on 9th street, as well as the bank’s branches on Randall Street, in Douala, and in Red Light,” he said.
He added that although the company has been in Liberia since 2014, it is now moving into various channels of marketing, adding, “We have our express channel where folks in the US can purchase groceries of various food items, such as oil, rice, and soap, cereals, milk, sugar, etc., and we make the delivery within 24 hours to family members in Liberia. That’s what the express service is all about.”
In his welcome remarks, Mr. Kesselly called on Liberians to tap into the money transfer sector, particularly for those who are receiving money from family members in the United States.
With transfer fees starting as low as US$7.99, he urged Liberians residing in the United States to use the new service with affordable charges. “In other words, compared to our competitors, we charge far less for customers to pay to send any amount of money to Liberia. Our money transfer service is fast, reliable and affordable,” he added.
The company CEO disclosed that with Nobel Express, Liberians in the U.S. who usually send money to their families back home for medical, education and food purposes can now go to bed without any fear that the money they send will be used for anything other than its intended purpose.
“We will be that conduit through which Liberians in the U.S. can send money to their family members, for instance, to build a house and that money will be used for the intended purpose.
“We will do the same for the payment of medical bills, food distribution… as well as school fees as far as Grand Gedeh. We will receive monies on behalf of people and do as they request,” the Nobel President emphasized.
In remarks, LBDI President John B. S. Davies expressed gratitude to the management of Nobel Liberia for the investment. He said the launch of the services shows that Liberians are now ready to take over their economy, which will provide opportunities and create jobs in the private sector.