from the LTA PR
MONROVIA – In a move to modernize Liberia’s digital financial landscape, the Liberia Telecommunications Authority (LTA) has officially licensed Orange Money to operate as an independent Mobile Money Service Provider. This separation from its parent company, Orange Liberia, is a mandate under the LTA’s new Value-Added Service (VAS) Regulations.
A New Regulatory Framework
Under the LTA’s VAS Regulation (LTA-REG-001), major Mobile Network Operators (MNOs) like Orange Liberia and Lonestar Cell MTN are now required to decouple their mobile money subsidiaries from their core telecommunications operations.
A critical shift in this new framework involves the management of short codes. Previously, MNOs maintained full control over the delegation of these codes to third-party entities. Now, all short codes fall under the direct supervision and management of the LTA to ensure a more transparent and competitive market.
Leveling the Playing Field
During a certification ceremony held at the LTA headquarters on Friday, Chairperson Clarence K. Massaquoi described the event as a historic milestone in creating a fair market for all stakeholders.
“From this day forward, Orange Money holds a separate license with the full authorization of the regulator to conduct digital financial services,” Chairperson Massaquoi stated. He added that the LTA expects Lonestar Cell MTN to complete the same licensing process in the near future.
Advancing Digital Transformation
Representing Orange Liberia, Legal Counsel Mr. Supu H.W. Cole Sr. characterized the licensing as a significant leap toward the digital transformation goals envisioned by President Joseph N. Boakai. He commended the LTA for its professional handling of the regulatory transition.
The ceremony, which marks a turning point for fintech autonomy in Liberia, was attended by key industry players and members of the press.