By Lodu William Odiya
The Bank of South Sudan has yesterday vowed to remain firm and committed to building and safeguarding a robust national payment system that is secure, inclusive, efficient and built on a consumer trust.
The statement came during a launch of MTN MoMo Fintech “Mata fekir” nationwide campaign in Juba.
In his speech, Dr. Addis Ababa Othow, the Central Bank Governor commended MTN for the launch of the Multiplicate Initiative.
He said that the bold and strategic campaign would play a central role in advancing South Sudan’s transition toward a modern digital economy.
“With this progress, come shared responsibility, the Bank of South Sudan remains firmly committed to building and safeguarding a robust national payment system, one that is secure, inclusive, efficient and built on a consumer trust” he stated.
“Mobile money services such as MTN Momo and the rest of the digital platforms in the country have become more than a matter of convenience” he said.
Dr. Othow emphasized that at the Bank of South Sudan, they had placed financial inclusion and digital transformation at the very core of their strategic vision.
“Our goal is clear, to ensure that every South Sudanese citizen, whether in the busiest city of Juba or the most remote villages of in the far north, whether in the villages, has access to secure, affordable and reliable financial services” he explained.
He further stated that it is not only an economic imperative, but also a social obligation that touches the lives and livelihoods of our people in the Republic of South Sudan.
They are a critical infrastructure-sided bridge that connects the unbanked and the underbanked with the formal economy, empowering citizens, supporting small businesses and expanding opportunity for growth.
“Yes, I must emphasize that the journey toward a cashless and digital-driven economy cannot be undertaken by government alone. Rather, it requires a strong partnership with an innovative private sector like MTN Momo” he said.
Othow recognized and appreciated the investment and commitment that MTN has made in developing the South Sudan digital payment ecosystem.
He underscored his administration would work directly to support our national objective for growth, inclusion and modernization.
Othow emphasized that the duty of the central bank is to ensure that the digital financial services protect the people and inspire the confidence of the people of South Sudan and foster continued innovation.
“The Matter Factory campaign reflects the very spirit of this partnership by encouraging the widespread adoption and active use of Momo in the country” he stated.
He underlined that MTN is directly contributing to the financial empowerment of the people of this nation.
He called upon all South Sudanese, from businesses owners to market traders, from salaried workers to students, to embrace this technology.
“Use it to support your family, to pay their services and to grow your enterprises. At the same time, I challenge MTN Momo today to remain at the forefront of innovation by expanding your agent network” he noted.
He also called for protection so that the end users and every user in the country is both empowered and secure.
Othow emphasized that the Bank of South Sudan is proud to support the initiative that brings people closer to a financially inclusive and digitally empowered nation.
“Together, through collaboration and innovation, we will build a modern, efficient and inclusive financial system that serves every citizen of South Sudan” he added.
On his part, the chairperson of the South Sudan national chambers of commerce, Ladu Lukak emphasized on the need for expansion of awareness on the MoMo service to the youth and the people of South Sudan at large.
“MoMo is good but needs more awareness to the youth and the people of South Sudan at large” he stated.
MTN fintech MoMo service is a platform that allows you to manage your money safely and conveniently via your phone.
It also allows you to shop, pay bills, send and receive money, and integrate with other digital solutions across different locations.