Central Bank Governor and Revenue Authority Chief Sacked

(JUBA) – South Sudan’s business and financial sectors were on alert on Wednesday following a major political and economic shake up announced by President Salva Kiir Mayardit. The president issued a series of Republican Decrees that removed key economic figures from their posts, including Vice President Dr Benjamin Bol Mel, the Governor of the Bank of South Sudan and the head of the South Sudan Revenue Authority.

The move marks one of the most significant changes to the country’s economic leadership since independence in 2011, with likely implications for fiscal policy, investment confidence and market regulation.

Dr Benjamin Bol Mel, who served as Vice President in charge of the Economic Cluster and First Deputy Chairman of the ruling Sudan People’s Liberation Movement (SPLM), was dismissed from both roles. The president also stripped him of his military rank, demoting him from general to private, and dismissed him from the National Security Service.

Bol Mel’s removal was announced alongside the sacking of Dr Addis Ababa Othow, Governor of the Bank of South Sudan, and Simon Akuei Deng, Commissioner General of the South Sudan Revenue Authority. The new appointments include Yohanes Samuel Kosta as Central Bank Governor, William Anyuon Kuol as Revenue Authority Commissioner General, and Akol Paul Kuoldit as SPLM Secretary General. No replacement has yet been named for the position of Vice President in charge of the Economic Cluster.

The decision comes at a time when South Sudan’s economy faces pressure from high inflation, declining oil revenues, and a weakening currency. Business leaders and financial analysts say the reshuffle could affect monetary stability and investor confidence in the short term, depending on the direction of the new team’s policies.

The Bank of South Sudan plays a central role in managing the country’s exchange rate, controlling inflation, and stabilising the market. The change in leadership comes as the South Sudanese Pound continues to depreciate, currently trading at about 7,100 SSP to one US Dollar in the real market.

Some observers view the appointments as part of President Kiir’s effort to reassert control over the country’s economic management and rebuild credibility in key financial institutions. Others see it as a political move aimed at consolidating influence ahead of the next electoral period.

Dr Bol Mel, aged 52, has been a prominent figure in both the political and business circles of South Sudan. He was regarded as a driving force behind the government’s infrastructure and economic reform projects. However, his tenure has also been marred by controversy. He has been under United States sanctions since 2017 for alleged corruption, and a United Nations report released in September linked companies associated with him to road projects valued at 12 trillion South Sudanese Pounds, or about 1.7 billion US Dollars, that were not completed.

Hours before his dismissal, the Office of the Vice President had released a statement saying Dr Bol Mel was “diligently carrying out his official duties” and continued to work towards implementing President Kiir’s economic vision. The statement thanked citizens, international partners, and the business community for their concern and dismissed social media reports of his removal as unfounded.

The developments come amid broader discussions about economic reform, transparency, and accountability in South Sudan’s financial institutions. The removal of senior figures from the Central Bank and Revenue Authority is expected to bring changes to how fiscal and monetary policy are coordinated.

Economists say the leadership transition will be closely watched by both domestic businesses and international partners, especially as South Sudan seeks to attract new investment and reduce dependency on oil exports.

The new team, led by Yohanes Samuel Kosta at the Central Bank and William Anyuon Kuol at the Revenue Authority, faces immediate challenges including stabilising the currency, managing reserves, boosting non oil revenues, and improving public financial management.

Analysts expect that the reshuffle could also affect negotiations with international lenders and development partners, particularly those involved in financial reform programmes. The appointments will be tested on how quickly they can deliver economic results and restore confidence in the financial sector.

Latest Economic and Leadership Changes in Juba