BoSS Governor Signals Start of National Currency Reform Journey
By: Daniel Mareng Wek Magok
The Governor of Bank of South Sudan (BoSS), Hon. Dr. Addis Ababa Othow, led a high-level meeting focused on fixing and managing the country’s national currency. The meeting brought together the First and Second Deputy Governors, Directors General, among others, to begin work on a new roadmap for currency reform and broader economic stability.
The meeting follows the formation of the Currency Management Committee by Governor Othow, tasked to reviewing the structure of the South Sudanese Pound (SSP), studying past efforts, and recommending changes that match the country’s economic needs and regional standards.
“This meeting sends a strong message. We have started the journey of fixing and managing our currency. It is an inclusive process that will leave no one behind,” he said.
During the discussion, the team focused on several key areas including improving the current monetary policy, addressing cash flow and liquidity challenges, expanding digital banking, and strengthening the currency’s security features.
The Governor added that the overall goal was to support the BoSS vision of maintaining price stability and building a strong and credible financial system.
The Currency Management Committee is chaired by First Deputy Governor Hon. Samuel Yanga Mikaya, who reaffirmed the group’s commitment to developing concrete solutions. “The committee will study the current situation and recommend tangible solutions to address liquidity challenges,” he said.
Second Deputy Governor Hon. Rita Nyankiir Akoon called the meeting an “eye-opener” and praised the Governor’s bold leadership on a matter of great importance to the nation.