Central Bank and Trade Ministry Ask Traders to Bank Their Money

(JUBA) – The Bank of South Sudan (BoSS) and the Ministry of Trade and Industry have urged traders across the country to deposit their money in commercial banks instead of keeping it in cash.

The call was made after a meeting held on 4 November 2025 between the Governor of the Bank of South Sudan, Dr Addis Ababa Othow Akongdit, and the National Minister of Trade and Industry, Hon Atong Kuol Manyang Juuk.

The meeting took place at the Central Bank headquarters in Juba and focused on ways to keep market prices stable and support business growth.

Minister Atong said traders should trust the banking system, describing it as the safest and most secure place for their business funds. She warned that keeping large amounts of cash outside the banks weakens the economy and makes it harder for banks to give loans to businesses.

She also shared details of her recent visit to Türkiye, where some investors and banks showed interest in starting banking operations in South Sudan. The Minister said this could help strengthen the country’s financial system and make banking services more available to local traders.

Dr Othow, the Central Bank Governor, said the meeting was important in improving cooperation between the Central Bank and the Ministry of Trade. He said both institutions are working together to keep prices stable, build public trust, and support private sector growth.

He added that restoring confidence in banks will help businesses operate more easily and allow the government to manage the economy better. “We are working hand in hand with the Ministry of Trade to ensure our policies help the public and the business community,” he said.

Both leaders said they will continue to encourage traders to use the banking system instead of keeping cash in their homes or shops. They said this will help the country improve financial discipline, manage inflation, and create better access to loans.

Economists in Juba say that most traders in South Sudan still prefer to keep money in cash because of limited trust in banks. They warned that this habit slows business growth and reduces the government’s ability to manage prices and support economic reforms.