One of the key drivers of growth in the Liberian tech sector is the increasing access to mobile phones and the internet. According to the World Bank, mobile phone penetration in Liberia was at 88.6% in 2020, up from just 12.2% in 2010. This rapid growth has created a large market for mobile-based services, such as mobile money and e-commerce.
Liberia is part of the Mano River Union, which enforces uniform customs tariffs among Guinea, Sierra Leone, and Liberia. Additionally, the country is a member of the Economic Community of West African States (ECOWAS), comprising fifteen countries: Benin, Burkina Faso, Cape Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea-Bissau, Guinea, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo.
Liberia is the only ECOWAS member state that has yet to adopt the VAT; instead, it has a 10% sales tax.
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