By Matik Kueth
The Bank of South Sudan on Thursday launched its long-awaited interbank Payment and Settlement System (NPS), a major step toward the country’s digital and financial transformation.
The event, officiated by Dr. Martin Elia Lomuro, Minister of Cabinet Affairs, brought together government officials, regional partners, and financial stakeholders.
Speaking at the launch, Lomuro hailed the launch as a historic stride toward economic independence.
“It is a great honor for me to come and represent the President in this auspicious historical event, an event that marks the journey towards economic independence of our country,” Dr. Lomuro said.
He said the new system would strengthen control and transparency in financial management.
“From today, with this system, we expect the banks to be fully compliant with the laws and regulations of our country. The President is not only fighting for political independence; he also wants economic independence, an economy that supports and develops the citizens,” he stated.
The National Payment System, also known as the South Sudan Interbank Payment and Settlement System (SSIPSS), is designed to connect banks, citizens, and businesses under a single, secure digital framework.
It aims to make payments faster, safer, and more inclusive, ending years of reliance on cash-based transactions.
With this launch, South Sudan becomes the fifth East African Community member, after Kenya, Uganda, Tanzania, and Rwanda, to establish a national interbank payment system.
The move positions the country alongside its regional peers in advancing digital financial integration and cross-border real-time transactions under the East African Payment and Settlement System (EAPS).
Dr. Addis Ababa Othow, Bank of South Sudan’s Governor, said the launch represents the country’s entrance into a new era of financial modernization.
He stated that the new system will “enable real-time payment, instant funds transfer between individuals and businesses.
“Today, we are not just introducing a new financial system; we are entering into a new era of our national economy. This is the result of years of vision, strategic thinking, and collective dedication,” he stressed.
He applauded government institutions and development partners, including the East African Community (EAC) and African Development Bank, for their support.
“Together, we are laying a foundation for South Sudan’s digital economic transformation, a transformation that attracts investment, fosters innovation, and creates a more inclusive economy for generations to come,” he noted.
Chol Joseph, Director of Research and Planning at the National Communication Authority (NCA), underscored the role of digital infrastructure in the success of the system.
He reaffirmed NCA’s commitment to expanding connectivity across the country to make financial inclusion possible for all citizens.
“At the heart of every financial transaction lies a communication infrastructure, invisible yet essential. The NCA ensures that the infrastructure powering this financial system is reliable, secure, and compatible,” he stated.
However, Hoth Tut, a Senior Economic Advisor at the African Development Bank (AFDB), lauded the collaboration that made the National Payment System possible and reiterated their institution’s continued support for South Sudan’s financial reforms.
“The Bank has been working with the government and people of South Sudan for quite some time. We really appreciate the collaboration of the regional banks, which have worked together with the Bank of South Sudan to realize the launch of this important interbank payment and settlement system,” he said.
Meanwhile, Teresia Ndivio, Project Manager of the East African Payment and Settlement System (EAPS), commended South Sudan for achieving what she called a milestone in regional integration.
“This milestone is laying the groundwork for greater economic inclusion, reducing transaction costs, and enabling real-time settlements. We are happy that now the Bank of South Sudan and the Republic of South Sudan will join the EAC payment system that uses local currencies to transfer funds across the region,” she stressed.
The launch marks a turning point in South Sudan’s efforts to digitize its economy, with officials pledging to expand the system’s reach to both rural and urban areas.
The National Payment System is expected to make government services more efficient, improve trade, and promote financial inclusion, a pivotal step toward economic stability and regional integration.