NEWS

By Chance Baniko

The Vice President for Infrastructure Cluster, H. E. General Taban Deng Gai said the strategy represents a road map for BoSS during the launch of the second strategic plan 2023 – 2027 of the Bank of South Sudan.

The VP added that he was pleased to represent the President of the Republic Gen. Salva Kiir Mayardit on the launch of strategic plan.

While addressing the strategy launching ceremony on Tuesday, June 27, at Raddison Blu, he underscored, “Today our BoSS is Boss of its own.”  

What roles are commercial banks playing?

The VP challenged commercial banks operating in the country for failing to support the national economic agenda. “Commercial Banks are not providing loans to customers, because of the issue of collateral, he said.”

The VP appealed to the Minister of Finance and planning Hon. Dier Tong to find ways and means related to the issue of collateral to ensure critical assistance is given out. There is need to provide critical loans to small businesses, because their success ensures the success of the commercial banks and economy in general.

Commenting on the market volatility, General Taban, said, “Until we become productive, it remains difficult to control the prices.”

Enact law on strategic plan

On his part the Minister of Finance Hon. Dier Tong said that with the launch of this strategy, BoSS is sending a strong signal to other government agencies to follow suit. “I am, therefore, proposing that a law should be enacted and passed for all government agencies to come up with strategic plans, to ensure that each institutes’ vision is accomplished.”

Tong added, “one of the essential challenges of strategic planning is that sometimes long-term goals are compromised for short term gains, but this should be resisted.”

“I want to appreciate BoSS for cascading this strategy to individual levels which will assess what individuals are doing”.

Road map in the next five years

The BoSS Governor Hon. Johnny Damian Ohisa proclaimed the strategy as a defining road map in the next 5 years. He stressed that the strategy is in line with the national strategy 2040.

“Your presence today distinguished guests, ladies and gentlemen demonstrate the importance you attached to this occasion,” he said.

He added that the first strategy was launched in 2018 -2022, however, it faced some bottlenecks including external shocks such as high dependence on imports, reliance on oil, the pandemic, high interest rates in the United States of America, amongst others.

Some of the lessons learnt in the previous strategy means that “we must implement this new strategy in word and spirit.”

This strategy has now been cascaded to individual levels to ensure that everybody knows what they are supposed to do. It is at this juncture that I call on all government institutions to develop their plans to enable this country to move forward, the governor said.

“I appreciate the Bank of Uganda, Rwanda who assisted us to come up with this document.”

Implement the strategy

The first Deputy Governor Hon. Dr. Addis Ababa Othow stressed the need for the implementation of the strategic plan. He said, “the document must become a reality.”

The deputy governor appreciated the Board of Directors, DGs, Directors, the Corporate Affairs Department, Champions, the branches for demonstrating commitment to implementing the first strategic plan 2018. He renewed appreciation for partners; the IMF, the World Bank, the Africa Development Bank, the consultants, Ministry of Finance for continued support they accorded to BoSS.

“Let us develop a winning culture, he concluded.”

Earlier, the chair of the organizing committee Yeni Samuel appreciated the top management for working tirelessly to facilitate the strategy. He thanked the members for responding to organise this function within the shortest possible time.