(JUBA COUNTY) – The Governor of the Bank of South Sudan (BoSS), Dr Addis Ababa Othow, has unveiled new measures aimed at stabilising the foreign exchange market, promoting digital payments, and tackling illegal currency trading.
Addressing a stakeholders’ meeting in Juba on Friday, Dr Othow said the shift towards digital finance was now national policy and urged commercial banks and mobile money providers to expand public awareness campaigns on the benefits of digital transactions. He highlighted reduced cash-handling risks, improved security, and greater convenience as key advantages.
The Governor condemned unauthorised foreign currency dealings, including parallel market auctions and unapproved book-value exchange rates conducted outside BoSS regulations. He labelled these activities as a form of economic sabotage and warned that institutions found involved could face penalties such as licence revocation.
“Electronic payments are now officially recognised as legal tender in South Sudan. Banks that refuse to adapt are going against national policy. The world is going digital — South Sudan must not be left behind,” Dr Othow said.
He called for strict adherence to BoSS regulations, including compliance with the official exchange rate and anti-money laundering rules. The Bank is increasing its supervisory oversight to ensure the rules are followed and to deter misconduct.
Dr Othow confirmed that BoSS will continue to hold foreign exchange auctions and has begun disbursing South Sudanese Pounds (SSP) to commercial banks nationwide to ease cash shortages and ensure civil servants receive their salaries.
First Deputy Governor Hon Samuel Yanga also addressed the meeting, warning banks of the consequences of failing to comply with BoSS directives. He confirmed that SSP funds had been released to support civil servant salary payments and that hard currency auctions were ongoing to help stabilise the market.
The meeting brought together senior BoSS officials, heads of commercial banks, telecommunications executives, and other financial sector stakeholders.
