The CEO of Orange Money Mr. Maxwell Dodd has characterized the actual motive behind company’srecent introduction of 1% withdrawal fee as their dedication to improving financial inclusion and affordability for all Liberians. The revamp included several free services such as sending money to Orange Money users, paying bills, transferring money to banks, and more. Additionally, the fee for withdrawing money was reduced to just 1%, making financial services more affordable and accessible.
The motivation behind these changes, according to the CEO, was the company’s dedication to improving financial inclusion and affordability for all Liberians. The goal is to empower customers and support their financial well-being, especially during challenging economic times. The move aligns with President Joseph Nyuma Boakai’s digital plan, where financial inclusion is a key focus.
“The motivation behind these changes is our dedication to improving financial inclusion and affordability for all Liberians. We recognized the need to make financial services more accessible and cost-effective, especially during challenging economic times. By reducing costs and offering free services, we aim to empower our customers and support their financial well-being. This move aligns with President Joseph Nyuma Boakai’s digital plan presented on May 1st, where financial inclusion is key for the country. We were also inspired by the success seen in top countries such as Kenya, where mobile money is massively adopted, demonstrating its sustainability and positive impact on financial inclusion,” he stated.
Unlike previous promotional offers, this new strategy is not temporary but a long-term, sustainable revamp of services. The company aims to make these changes permanent to ensure consistent benefits for customers.
The CEO expects these changes to have a significant impact on customers’ financial behavior, encouraging more frequent use of mobile financial services. With lower costs and free services, customers can save more money, make transactions confidently, and better manage their finances.
The 1% withdrawal fee aligns with the company’s goal of financial inclusion by making it more affordable for customers to access their cash. This reduced fee lowers the cost barrier, encouraging more people to use the services and participate in the digital economy. The CEO compared this approach to the reduction in SIM card prices, which made them more affordable and popular, demonstrating the effectiveness of lowering cost barriers. “It ensures that even those with limited financial resources can benefit from our offerings. This approach is similar to when SIM cards were reduced from $65, which made them more affordable and popular, demonstrating the effectiveness of lowering cost barriers.”
Meanwhile, Mr. Maxwell Dodd shared the company’s strategies to address the digital divide in rural and underserved areas, highlighting their commitment to expanding the agent network, investing in infrastructure, and conducting outreach programs to educate people about their services. The goal is to ensure that everyone, regardless of location, has access to affordable financial services.
“To address the digital divide in rural and underserved areas, we are expanding our agent network and investing in infrastructure to improve connectivity. We are also conducting outreach programs to educate people about our services and how they can benefit from them. Our goal is to ensure that everyone, regardless of location, has access to affordable financial services,” he noted.
Since implementing these changes, the CEO noted several success stories, including small business owners reporting increased savings and more efficient transactions, families managing their finances better, and an overall sense of financial empowerment among customers. These positive outcomes reinforce the company’s dedication to financial inclusion.
Mr. Maxwell Dodd: “Orange Money Liberia plays a crucial role in the broader economic development of the country by providing essential financial services that enable economic participation. By making financial services more accessible and affordable, we support entrepreneurship, job creation, and overall economic growth. Our efforts contribute to a more inclusive and robust economy.” Customers are encouraged to provide feedback or suggestions through various customer service channels, including social media platforms and customer care centers, as their input is valued and used to continuously improve services.
The CEO emphasized Orange Money’s commitment to Liberians’ financial well-being, stating that the company is dedicated to providing affordable, accessible, and innovative financial solutions that empower individuals and businesses, ultimately building a more inclusive and prosperous financial future for all. “Our message to Liberians is that Orange Money is fully committed to their financial well-being. We are dedicated to providing affordable, accessible, and innovative financial solutions that empower individuals and businesses. Together, we can build a more inclusive and prosperous financial future for all.”
Regarding the impact on agents with the new tariffs,Mr. Maxwell Dodd assured that the amount of commission for agents remains unchanged. Orange Money Liberia is committed to continuing its partnership with agents, creating job opportunities, and fostering a collaborative environment that benefits everyone involved.
“We understand the critical role our agents play in the success of our services. With the new tariffs, we have ensured that the amount of commission for agents remains unchanged. We are committed to continuing our partnership with them, creating job opportunities, and fostering a collaborative environment that benefits everyone involved,” he noted.
