By Matik Kueth
The Co-operative Bank of South Sudan launched its new branch in Juba’s Gudele Suburb on Thursday. This is the bank’s sixth branch nationwide, complementing its existing locations in Kololo, Malakia, Juba town center, and Gumbo Sheri-khat.
In an interview with King Media, Co-operative Bank’s Managing Director and CEO, Elijah Wamalwa, stated that the new branch seeks to deliver innovative financial services to South Sudanese citizens.
He emphasized that the branch’s inauguration is part of the bank’s ongoing efforts to make banking more accessible, affordable, and easy for consumers, particularly in terms of fund access and safeguarding.
Wamalwa underlined that the bank was founded to transform the country’s financial sector, support economic growth, and strengthen the cooperative movement within South Sudan.
“Co-Bank is here to transform the financial sector of South Sudan, to build support growth and development of the cooperative movement in South Sudan, to offer innovative financial services to the people of South Sudan, just making it easier, cheaper and more convenient for customers to access their funds and for safekeeping of customers’ money,” Wamalwa said.
Acknowledging the challenging times the country has faced, he noted that despite the economic difficulties, the bank has scaled down operations; yet, customers’ demand for branches in nearby areas remains strong.
“We know that South Sudan is going through a very difficult time, we know that banks have scaled down, but we know also that the customers want to be closer to their branches,” he stressed.
He added, “And so this is one mission we wanted to roll out this year, to roll out this branch because Gudele is a very populated area and customers currently have to go very far to Juba or other parts of Juba town to bank or withdraw and so we are coming this way to set this branch so that customers can transact much easier.”
The CEO also revealed plans to expand electronic banking services, enabling customers to conduct transactions comfortably from their homes or offices.
“We have other areas that we are looking at and I will be unveiling that with time, we are also rolling out more of the electronic platforms so that customers can transact from the comfort of their homes or their office, whether it’s internet banking, whether it is mobile banking and other forms of electronic banking,” he explained.
Rev’d Dr. Justin Badi Arama, Primate of the Episcopal Church of South Sudan and chief guest at the Gudele Branch launch, speaks with King Media. (Photo: Matik Kueth, King Media)
Rev’d Dr. Justin Badi Arama, Primate of the Episcopal Church of South Sudan, who was invited to bless the branch, hailed the initiative as a great opportunity for Gudele locals to deposit their money at the branch rather than utilizing traditional methods of keeping money at home. He pointed out that the branch will be a hub for progress, savings, and development, and urged Gudele residents to utilize it appropriately.
“Today [Thursday] is a great day when we rejoice together with the people of Gudele because the branch of Cooperative Bank, which has been opened here today [Thursday] signifies a great opportunity for the population here. This will be a center for progress, center for saving and center for development which has been availed here and it is my prayer that the people of Gudele will make use of this center to be able to open accounts and then put their money in the bank because the old practice of keeping money at home under the pillow or under the bed, that will always make you restless,” he emphasized.
The Co-operative Bank was established in 2012 as a strategic joint venture between the Government of South Sudan and the cooperative movement. It began operations in 2013. The bank further continues to seek to broaden its reach and improve financial services throughout the country.