On May 7, 2025: Former President Ellen Johnson Sirleaf has officially cut the ribbon and launched the Modern Savings & Loans Microfinance Deposit-Taking Institution, founded by Cllr. George B. Kailondo. This marks a key step in supporting Liberian businesses and individuals.
During the event, President Sirleaf praised the new institution for helping small businesses grow and for offering technical support to boost their success.
She also commended Cllr. Kailondo for his investment in a sector mostly controlled by foreign businesses.
Cllr. George B. Kailondo, a member of the Board, shared that the new institution would set interest rates at just 8%, making it the most affordable microfinance institution in Liberia.
He explained that the institution would provide easier access to funding, lower interest rates, and support for both borrowers and investors.
The opening ceremony was attended by the Central Bank of Liberia, senior government officials, members of the National Legislature, and the business community, all of whom praised the initiative and showed their support.
The institution is led by Madam Chantell Kailondo, the Chief Executive Officer.
She emphasized that exceptional customer service and easy access to sufficient funds will be the cornerstone. Chantell also took the opportunity to urge Liberian businesses to seize the available opportunities, highlighting the potential for growth.
