Central Bank Works With NCA on Cashless Economy Plan

(JUBA) – The Bank of South Sudan has held a high level meeting with the National Communication Authority (NCA) to speed up the launch of the country’s National Payment System.

The talks focused on removing barriers to rolling out a fully operational digital payment solution, with both institutions stressing its importance for modernising the financial sector.

The meeting brought together senior officials from the Bank of South Sudan’s National Payment System Department and the NCA leadership.

As the national regulator of telecommunications companies, the NCA’s cooperation is critical to ensuring digital transactions can be delivered securely and reliably across the country.

NCA Director General Gieth Kon Mathiang described the proposed system as a smooth and efficient way to handle payments. He said he fully supports the Central Bank in ensuring the platform is not only launched but operates without disruption.

“From my side, I am supporting the Central Bank to improve and ensure that the national payment system is functioning,” Mr Mathiang told the meeting.

The Bank of South Sudan’s Director for the National Payment System, Akum David Sabahker, briefed the NCA on recent progress. He outlined the modernisation of payment infrastructure, which includes upgraded systems that connect banks and mobile money operators.

He said these improvements will lower the risks linked to carrying large amounts of cash, a common challenge in South Sudan’s cash driven economy.

The National Payment System aims to allow transactions to be processed electronically across the banking sector and through mobile platforms, reducing dependency on physical currency. This is expected to boost convenience for customers and make business transactions faster and safer.

Carrying cash in South Sudan is not only inconvenient but can also be risky, particularly for businesses and individuals in remote areas.

The Central Bank hopes to cut such risks, promote financial inclusion and align the country with regional and global banking standards by expanding digital payments.

Officials said that the success of the system depends on seamless collaboration between banks, mobile network operators and the regulator to ensure the necessary infrastructure and legal framework are in place.

The Central Bank has not yet announced the exact date for the launch of the National Payment System.