By: Sampat JMB Kpakimah
On Friday, July 31, 2026, President Joseph Nyuma Boakai, Sr., led the official launch of the First Atlantic Bank, a new banking institution in Liberia. He praised the entity for demonstrating confidence in Liberia’s economy by investing in the country, describing the move as a strong vote of confidence in the government’s efforts to create a favorable business environment.
Also in his statement at the event, President Boakai recalled meeting the bank’s leadership during earlier discussions on investment opportunities in Liberia. He expressed satisfaction that those engagements had culminated in the bank’s establishment in the country.
“I want to thank you for your confidence in our country,” President Boakai said. “If we are to rebuild Africa, Africans must have confidence in their own economies. If we do not believe in ourselves, it will be difficult for others to believe in us.”
The President assured the bank and the broader business community that his administration remains committed to creating a secure and investor-friendly environment.
“Liberia is moving in a very serious way,” he said. “We are working to open up the country and ensure that the conditions necessary for businesses to thrive are in place. We want investors to know that their investments will be protected.”
President Boakai noted that banking plays a critical role in national development, emphasizing that strong financial institutions are essential to supporting economic growth, attracting investment, and expanding opportunities for Liberians.
He further stated that the government is making steady progress in improving the investment climate, adding that a growing number of investors are expressing interest in doing business in Liberia.
According to the President, the government will continue working closely with key institutions, including financial regulators, to strengthen the country’s financial sector and promote sustainable economic development.
Commending the leadership of First Atlantic Bank, President Boakai thanked the institution for maintaining confidence in Liberia despite past challenges.
“We are very proud to have this bank officially launched in Liberia,” he said. “We assure you that our government will continue to support initiatives that promote investment, create jobs, and contribute to the country’s economic transformation.”
The President concluded by expressing optimism about Liberia’s future, stating that with continued partnership between government and the private sector, the country is well positioned to achieve lasting economic progress.
During the special statement, the Executive Governor of the Central Bank of Liberia (CBL) Henry Saamoi called on First Atlantic Bank Liberia Limited to make financial inclusion, innovation, and good corporate governance the foundation of its operations as it begins business in Liberia.
Speaking at the official launch of First Atlantic Bank Liberia Limited, Governor Saamoi described the opening of the bank as a significant milestone in Liberia’s economic transformation and a strong vote of confidence in the country’s financial sector.
“Today, we do not merely open the doors of a new banking institution; we celebrate another important milestone in Liberia’s journey toward economic transformation, financial sector deepening, and inclusive national development,” Saamoi said.
He congratulated the bank’s shareholders, board of directors, management, and staff on the successful establishment of the institution, noting that the investment reflects growing confidence in Liberia’s economy and the resilience of its banking sector.
According to the CBL Governor, licensing First Atlantic Bank will increase competition within the banking industry, expand consumer choice, strengthen financial intermediation, and enhance the sector’s ability to support national economic growth.
Saamoi credited the progress to the government’s development agenda under President Joseph Nyuma Boakai, Sr., whose commitment to private sector development, inclusive economic growth, and job creation continues to inspire confidence among investors and development partners.
He emphasized that the Central Bank’s decision to license a new commercial bank demonstrates confidence in the strength and stability of Liberia’s financial system.
“Our banking system remains liquid, well-capitalized, and well-positioned to support the country’s growing development aspirations through strong regulation, sound supervision, and sustained reforms,” he stated.
The Governor stressed that the role of the Central Bank extends beyond maintaining financial stability to fostering a banking system that promotes inclusion, innovation, investment, and economic opportunity for all Liberians.
Saamoi urged First Atlantic Bank to place financial inclusion at the center of its business strategy, describing it as a national development imperative rather than simply a banking objective.
He particularly encouraged the bank to prioritize women, youth, farmers, and micro, small, and medium-sized enterprises (MSMEs), noting that these groups remain among the country’s most important drivers of economic growth but continue to face barriers in accessing formal financial services.
Highlighting the importance of women’s economic empowerment, Saamoi said greater access to finance, credit, financial literacy, and leadership opportunities for women is not only socially beneficial but economically strategic.
The Governor Henry also challenged the bank to invest in Liberia’s youth by supporting entrepreneurship, financial literacy, skills development, and access to technology.
Addressing the future of banking, Saamoi observed that technology is rapidly transforming financial services globally and said the future of banking will depend not only on physical branches but also on innovation, digital connectivity, convenience, and accessibility.
He encouraged the bank to embrace digital transformation and work closely with financial technology (fintech) providers to expand access to financial services while maintaining high standards of security, customer protection, and regulatory compliance.
Saamoi further underscored that public trust remains the foundation of every successful banking institution.
The CBL Governor outlined several reforms being implemented by the Central Bank to modernize Liberia’s financial sector. These include the rollout of an instant inclusive payment system, modernization of the collateral registry and credit reference systems, deployment of the National Electronic Payment Switch, and implementation of the Bank Financial Institutions and Bank Financial Holding Company Act of 2025.
According to him, these initiatives are laying the foundation for a more resilient, competitive, inclusive, and efficient financial system capable of supporting Liberia’s long-term economic transformation.
Saamoi concluded by emphasizing that the true success of First Atlantic Bank should not be measured solely by profitability but by its contribution to national development.
He urged regulators, financial institutions, investors, and development partners to continue working together to expand access to finance, empower women and youth, support entrepreneurship, embrace innovation, and build a stronger and more inclusive financial system.
Saamoi ended by congratulating the board, management, shareholders, and staff of First Atlantic Bank Liberia Limited and expressed confidence that the institution would make a meaningful contribution to Liberia’s economic development while growing from strength to strength.
Meanwhile, the Board Chairperson representing First Atlantic Bank PLC, Madam Catherine Engmann, said the bank’s entry into Liberia represents more than the expansion of its operations it reflects the institution’s long-term commitment to the country’s economic future.
Addressing guests at the launch ceremony, Madam Engmann said she stood on Liberian soil with “a profound sense of pride, deep humility, and genuine excitement” as the bank opened a new chapter in its history.
“Today, we are not simply launching banking operations in Liberia; we are planting a flag,” she said, describing the occasion as one of the most significant milestones in the bank’s journey.
She recounted that First Atlantic Bank was established in Ghana more than three decades ago with a simple but powerful vision: to provide superior financial solutions while creating value for its customers and stakeholders.
According to her, that vision has transformed the institution from a modest financial establishment into one of Ghana’s best-capitalized, most trusted, and award-winning commercial banks.
Akyianu said the bank’s founders always envisioned building a world-class African financial institution rather than one confined to a single country’s borders.
“Our ambition has always been to build a global bank out of Ghana a world-class financial institution rooted in African values,” she said, noting that Liberia marks the next step in realizing that vision.
She highlighted several recent achievements by the bank, including its successful listing on the Ghana Stock Exchange in December 2025, which resulted in a market capitalization of approximately GH¢2.9 billion.
According to Madam Engmann, the listing was more than a financial milestone; it demonstrated the bank’s commitment to accountability, transparency, and readiness to compete on the global stage.
She also noted that First Atlantic Bank was recognized as Ghana’s Digital Bank of the Year in both 2024 and 2025, achievements she said reflect the institution’s continued investment in innovation, customer service, and digital banking solutions.
The Board Chairperson also emphasized that the bank Engmann intends to bring the same standards of excellence to Liberia by supporting businesses, expanding access to financial services, and contributing to the country’s economic development.
The First Atlantic Bank is a Ghanaian based bank established in 1995. Headquartered in Accra, Ghana, the bank has grown into one of the country’s leading indigenous financial institutions, offering retail, corporate, commercial, and digital banking services.
Over the years, the bank has expanded its presence by investing in technology, customer-focused banking solutions, and innovative financial products.
In December 2025, First Atlantic Bank was listed on the Ghana Stock Exchange, marking a significant milestone in its growth and strengthening its corporate governance and transparency.
With its many years of exposure and services to the people of Ghan the management has decided to expand its operations across the region with Liberia being the first extended branch.
