(Monrovia, Liberia, July 31, 2025) –The Ministry of Health (MOH), the National Health Workers Union of Liberia (NAHWUL), and Ecobank Liberia Limited have signed a “Memorandum of Understanding” (MOU) to facilitate the opening of payroll accounts, issuance of loans, and other essential banking services for the Ministry’s employees, to improve access to financial services and strengthen the welfare of health workforce across the country.
The MOU was signed on Thursday, July 31, at the Ministry in Congo Town, before legal representatives and witnesses from all parties, including Cllr. Tomik L.J. Vobah, MOH General Counsel; Mr. James Beyan, MOH Human Resource Director; and senior officials of Ecobank Liberia.
Also, the Ministry was represented by Deputy Minister for Administration, Hon. Martha C. Morris, while Mr. Francis Kerkula, President of NAHWUL, signed on behalf of the union. Gibson K. Kollie, Head of Consumer Banking of Ecobank Liberia, represented the bank.
The agreement establishes a partnership between the three parties that will streamline salary payments, promote responsible borrowing, and introduce modern digital banking tools to thousands of health workers across the country.
“This is more than just a banking agreement; it is a partnership for progress,” said Hon. Morris. “The well-being of our health workers directly affects the quality of care in our hospitals and clinics. Today’s agreement ensures that our workforce has access to timely salary payments, affordable loans, and electronic banking services. I am grateful to Dr. Louise Mapleh Kpoto for ensuring that this initiative is achieved in the best interest of our health workers. I assure all the health workers across the country and Ecobank Liberia of the success of this agreement.”
According to the agreement, all payroll accounts of MOH employees, including NAHWUL members, will be domiciled with Ecobank, eliminating delays in payment and allowing workers to access their salaries through direct deposits. The agreement stipulates that no initial deposit will be required to open these accounts.
As part of its responsibilities, Ecobank has agreed to offer full banking services, including electronic banking and ATM access, to qualified employees. A monthly maintenance fee of USD 2.50 for USD accounts and L$350for LRD accounts will apply.
Importantly, Ecobank will also extend personal, vehicle, asset acquisition, and mortgage loans to eligible health workers who meet the bank’s credit standards. Each loan product includes a maximum repayment period of 36 months and requires an insurance policy naming Ecobank as the first loss payee. Loans above $5,000 will require additional collateral, such as legal mortgages or disaster insurance.
For its part, the Ministry of Health has pledged to ensure all NAHWUL members with existing or new salary accounts at Ecobank are prioritized in the payroll process. The ministry will also serve as guarantor for workers with outstanding loans in the event of employment termination or retirement and will promptly notify the bank of any such employment changes.
NAHWUL President Mr. Francis Kerkula hailed the agreement as “a significant achievement for health workers,” noting that financial inclusion is a key part of the union’s agenda to improve the livelihoods of its members.
“This agreement is the result of years of negotiation and persistent advocacy,” said Kerkula. “It will empower our members to plan their futures, own homes, and respond to personal emergencies with dignity and financial confidence.”
Under the terms, both MOH and NAHWUL will jointly identify a reputable insurance provider to cover all insured loan facilities.
“Ecobank has committed to applying a competitive interest rate of 11.5% per annum, alongside a 1.25% processing fee, 1.25% facility fee, and 0.35% legal fee as one-time charges for approved loans,” said Gibson K. Kollie, Head of Consumer Banking at Ecobank.
“This is the future of civil service in Liberia,” said Salamata Diallo, Ecobank’s Managing Director. “When we empower health workers, we empower the nation.”
The agreement will be subject to review after two years, and any party wishing to terminate it before then must provide a two-month advance notice.