(JUBA) – The Central Bank of South Sudan and the Central Bank of the United Arab Emirates (UAE) signed a comprehensive cooperation agreement on Wednesday, giving Abu Dhabi a role in South Sudan’s monetary operations, including the secure printing of currency.
The memorandum of understanding, signed in the presence of high ranking officials, sets a framework for collaboration on banknote security, payment systems, and technical training for South Sudanese banking staff.
Sheikh Shakhbout bin Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs, and Benjamin Bol Mel, South Sudan’s vice president, attended the ceremony.
Security printing of banknotes involves specialised processes to prevent counterfeiting, ensuring the currency remains reliable and secure.
Under the agreement, the UAE’s Omlat, a subsidiary of its central bank, will supervise the production of South Sudanese banknotes. This comes as South Sudan continues to struggle with hyperinflation, currency instability, and a history of financial mismanagement.
It is not yet clear whether South Sudan intends to replace De La Rue, the British company currently printing its currency.
Al Etihad Payments, another UAE central bank entity, will develop South Sudan’s domestic payment card infrastructure in two phases. The deal also includes training for South Sudanese banking officials at the Emirates Institute of Finance.
UAE officials described the agreement as a step toward closer economic ties. Khalid Mohammed Balama, governor of the UAE Central Bank, said the MoU aligns with efforts to “develop strategic partnerships” with South Sudan.
Dr Addis Ababa Othow, governor of the Central Bank of South Sudan, praised the UAE’s expertise in financial management.
The timeline for implementing the agreement remains unspecified.
Last month, reports indicated that South Sudan’s central bank plans to print additional currency to address a severe liquidity crisis. Economists have warned that such a move could further devalue the South Sudanese pound, currently trading at 4,600 SSP per US dollar, and increase inflation pressures.
| Item | Details | Notes |
|---|---|---|
| Agreement | Cooperation on banknote security, payment systems, training | Signed in Juba, August 2025 |
| Participants | UAE Central Bank, South Sudan Central Bank | Sheikh Shakhbout bin Nahyan Al Nahyan, Benjamin Bol Mel |
| Banknote Printing | UAE Omlat oversees production | De La Rue’s role unclear |
| Payment Systems | Al Etihad Payments develops infrastructure | Two-phase plan |
| Training | Emirates Institute of Finance | South Sudanese banking staff |
