(JUBA) – The Central Bank of South Sudan (BoSS) has opened a two day workshop aimed at validating the country’s financial sector strategy under the Strengthening South Sudan Financial Sector (3SF) project supported by the World Bank.
The workshop began today Wednesday at the BoSS headquarters in Juba and brought together key financial stakeholders including representatives from commercial banks, the South Sudan Bankers Association, telecommunications companies, the Ministry of Justice and Constitutional Affairs, and the Ministry of Finance and Planning.
Participants are reviewing diagnostic studies on South Sudan’s economy conducted by international audit and advisory firm KPMG, which identified structural challenges and proposed measures to build a more stable and inclusive financial system.
Speaking on behalf of the BoSS leadership, Hon. Rita Nyankiir Akoon, the Second Deputy Governor for Administration and Finance, said the diagnostic studies would provide valuable insights into the strengths, weaknesses, and opportunities within South Sudan’s financial sector. She said the findings would help the central bank strengthen its advisory and regulatory functions while enhancing overall financial stability.
“The Bank of South Sudan remains committed to ensuring that our financial sector is resilient, transparent and capable of supporting sustainable economic growth,” she said.
The 3SF Strategy is designed to promote financial sector reforms, improve the legal and regulatory framework, and foster collaboration among banks, financial institutions, and other market players. It also seeks to expand financial inclusion by encouraging the use of digital financial services, especially in rural areas where access to formal banking remains limited.
Dr. Majok Mading, Director General for Supervision and Regulation, called on participants to actively contribute to the discussions and share ideas to improve the strategy. He emphasised that open dialogue between stakeholders was essential for creating practical and effective financial reforms.
“This process will help us build consensus around the next steps for South Sudan’s financial future,” Dr. Mading said, adding that the workshop’s outcomes would shape key reforms in banking regulation, risk management, and financial sector governance.
Other senior officials from BoSS attending the workshop included David Manyuon Nak, Director General for Administration and Human Resources, and Bedpiny Tipo Kur, Director General for Board Affairs, Risk and Strategy Management.
A statement from the central bank’s portals said the event reflects the central bank’s ongoing effort to modernise South Sudan’s financial system and align it with regional and international best practices. Strengthening the financial sector is seen as a key step in improving investor confidence and supporting private sector growth in a country that still faces challenges from inflation, limited credit access, and low digital penetration.
| Key Area | Purpose | Expected Impact |
|---|---|---|
| Financial Sector Reform | Review of regulatory and policy gaps | Strengthened banking supervision |
| Digital Finance | Promote mobile money and e-payments | Improved financial inclusion |
| Economic Diagnosis | Assess strengths and weaknesses | Evidence-based policymaking |
| Stakeholder Collaboration | Involve banks, telecoms, and ministries | Better coordination and policy implementation |
BoSS also added that the initiative follows growing calls from economists and business leaders for stronger financial institutions capable of driving sustainable investment and stability in the country’s economy.