(JUBA) – The new Governor of the Bank of South Sudan, Samuel Yeni Costa, met commercial banks in Juba on Tuesday to discuss the country’s continuing cash shortage and the pressure it has placed on businesses, traders and consumers.
The meeting marks one of the governor’s first major engagements since taking office and reflects growing concern within the financial sector about liquidity and the need for coordinated action.
Governor Yeni Costa said cooperation between the central bank and commercial banks is essential for stabilising the flow of cash in the economy. He said that both institutions must work closely to support financial operations, reduce pressure on customers and rebuild public trust in the banking system. He added that practical solutions are needed to ensure money continues to circulate so that businesses can trade and people can carry out their daily transactions.
The governor said the central bank will prioritise measures that help maintain liquidity and improve the financial environment for both banks and the public. He noted that better coordination will help reduce delays, limit the strain on bank customers and make it easier for companies to operate.
The First Deputy Governor, Samuel Yanga Mikaya, encouraged wider use of digital banking services. He said many people still believe they cannot make purchases without physical cash, but digital payments are already available and can ease the pressure on cash demand. He urged vendors and service providers to become more familiar with digital payment options as the financial system moves gradually toward electronic services.
The Chairperson of the Bankers Association, Bruna Cirisio, said the engagement between the central bank and commercial banks is an important step toward solving liquidity challenges. She said banks welcome the renewed dialogue and hope it will lead to practical outcomes that support the wider financial sector.
Also present was the Director General for Supervision and Regulation, Dr Majok Mading, who is expected to play a key role in policy review and oversight during the coming months.
Financial analysts in Juba say the talks come at a time when the business community is pushing for stable liquidity, more predictable banking services and faster access to deposits.
Many traders have said that inconsistent cash availability disrupts stock purchases, transport payments and cross border trade. With one US Dollar trading at around seven thousand one hundred South Sudan Pounds (7,100 SSP), businesses relying on foreign currency say they continue to face cost pressures and delays linked to limited cash flow.
New Governor Signals Focus on Cash Availability
| Summary | |
|---|---|
| Location | Juba, South Sudan |
| Event | Meeting between the new Central Bank Governor and commercial banks |
| Main Issue | Persistent cash shortage and liquidity pressure |
| Central Bank Position | Coordination with banks needed to stabilise cash flow and support the economy |
| Deputy Governor’s Message | Promote digital payments to reduce pressure on cash |
| Bankers Association View | Dialogue welcomed as a key step toward solutions |
| Key Attendee | Dr Majok Mading, Director General for Supervision and Regulation |