By Jenifer James
The Deputy Governor of the Bank of South Sudan, Samuel Yanga Mikaya, took the stage during the launch event for the five-year project on Tuesday, exuding confidence and determination for the transformative journey ahead.
Mikaya’s speech reflected confidence in the project’s ability to steer South Sudan towards greater economic stability and prosperity.
The ambitious initiative launched through a joint effort between the Government of South Sudan, the World Bank, and other international financial institutions, is seen as a pivotal moment for the country’s financial future.
The project seeks to address critical challenges in the banking system by enhancing operational efficiency, promoting transparency, and implementing comprehensive financial reforms across the country. This collaboration marks a strong commitment from both domestic and global stakeholders to rebuild and strengthen South Sudan’s financial infrastructure.
During his remarks, Mikaya underscored the Bank of South Sudan’s unwavering dedication to the project’s success. He promised close oversight and careful management, with transparency serving as the foundation for all actions taken to modernize the financial sector. “This project,” Mikaya stated, “is not just about improving the banking system—it’s about laying the groundwork for a stronger economy, one that will benefit all citizens.”
The Deputy Minister of Finance and Economic Planning, Agok Makur, also spoke at the launch, sharing his enthusiasm for the project’s potential. He expressed confidence that this initiative could be the driving force to propel South Sudan into a new era of economic development and stability. Makur highlighted the importance of strategic planning and collective effort, describing the project as a “beacon of hope” for the nation.
With an implementation timeline from September 2023 to September 2028, the project is expected to bring visible changes to South Sudan’s financial sector. Both stakeholders and beneficiaries are eager to see the tangible impacts, which promise not only to revitalize the banking system but also to create a foundation for sustainable economic growth.
The next five years will be critical in determining the success of this ambitious venture, with hopes high for the country’s economic transformation.