By Matik Kueth
The Bank of South Sudan (BOSS) has announced that the registration and licensing of all insurance companies operating in the country will officially begin in November 2025.
In a statement issued on Friday, the bank said the exercise is in line with its mandate under the Bank of South Sudan Act, 2011, and the Financial Institutions Act, amended in 2023, which gives it full regulatory oversight over financial institutions, including the insurance sector.
“The Bank of South Sudan (BOSS), as mandated by the Bank of South Sudan Act 2011 and the Financial Institutions Act, amended 2023, would like to announce to all the insurance companies that are operating in the Republic of South Sudan that the registration and licensing of the insurance companies (domestic or international) will commence from the beginning of November 2025,” the statement reads in part.
It clarified that the licensing process, previously managed by the Central Equatoria State government, will now be centralized under the national regulator.
“The registration and licensing of the insurance companies that were previously under the supervision of the Central Equatoria Government will commence from the beginning of November 2025 and it will run for a period of one (1) month,” it stated.
According to the announcement, all insurance firms are directed to collect registration forms and licensing checklists from the Bank of South Sudan’s new headquarters at Jondra during official working hours.
“All the insurance companies are therefore directed to collect the registration forms and licensing checklist from the Bank of South Sudan New Headquarters at Jondoru during working hours, from 9:00 am to 5:00 pm, from Monday to Friday,” it emphasized.
This move follows a series of financial sector reforms by the Bank of South Sudan aimed at strengthening regulatory oversight and enhancing compliance with national and international financial standards.
Earlier this year, BOSS reiterated its commitment to bringing all financial and insurance entities under its supervision, arguing that fragmented regulation was hampering effective policy implementation and consumer protection.
The bank’s latest directive is a major step toward formalizing the insurance sector, which has long operated with minimal oversight.