(JUBA) – President Salva Kiir Mayardit has directed the new leadership of the Bank of South Sudan (BoSS) to prioritise banking reforms, transparency and the immediate removal of the 10 percent transaction fees that were previously imposed on users of the banking system.
The President issued the directive during the swearing-in ceremony of BoSS officials on 11 June 2025. He stressed the need for the new leaders to restore best practices and public trust in South Sudan’s financial institutions.
President Kiir described the former 10 percent charge on transactions as an unfair burden on citizens and businesses. At current exchange rates, a fee of 10 percent on a transaction of 460,000 South Sudanese Pounds (SSP) would be 46,000 SSP, equivalent to 10 US Dollars. For many citizens and traders, such fees had made formal banking less accessible.
The President was firm in his call for ethical leadership, telling the new central bank team to serve with integrity, fairness, and efficiency. He warned against the culture of kickbacks and emphasised that public office should not be used for personal gain.
In a stern message to the Financial Intelligence Unit, President Kiir instructed the agency to strengthen oversight and report any financial irregularities directly to his office. He made it clear that financial misconduct would not be tolerated and that accountability must be upheld.
