Business Community Calls on New Finance Minister to End Black Market Cash Dealings

By Chol D. Johnson
The South Sudan Business Community has urged the newly appointed Minister of Finance and Planning, Salvatore Garang Mabiordit, to take immediate measures to curb black market currency dealings and address the ongoing liquidity crisis in the country’s banking sector.
Speaking during a press conference on Thursday, the Chairperson of the South Sudan Business Community, Ayii Duang Ayii, said newly printed South Sudanese Pound notes are reportedly circulating in the black market instead of being made available through commercial banks.
According to Ayii, the situation has created significant cash shortages in banks, making it difficult for customers and business owners to access their funds.
“I urged the new Minister of Finance and Planning with the Governor of Central Bank to solve the cash liquated in the all the banks in South Sudan, the Central Bank and Commercial Banks,” Ayii urged.
He emphasized that newly printed currency should not be kept in private homes but deposited in banks to stabilize the financial system.
“The people who keeps the cash in their houses and sell them in the black market with 500,000 are not businessmen they are individuals running on different activities to fail the economic of the country,” Deng said.
The business community further called on the government to ensure the transfer of sufficient cash from the Central Bank to commercial banks to enable business operations and maintain the supply of essential commodities across the country.
“We will stand together as the businessmen and government for the economic of South Sudan,” he expressed.
Ayii also urged the government to prioritize supporting South Sudanese businesspeople rather than relying on taxes from foreign traders.
“The government should give cash to South Sudanese businessmen rather than relaying on foreigners taxes,” he said.
He noted that South Sudan has the potential to expand exports of gum arabic and other products to the Middle East, particularly following disruptions caused by the conflict in Sudan, which has traditionally been a major supplier to the region.
Ayii welcomed President Salva Kiir’s appointment of Salvatora Garang Mabior as Minister of Finance and Planning, expressing optimism that the new leadership would introduce a fresh economic strategy for the country.
He concluded by encouraging citizens to engage in productive activities such as agriculture and fishing along the River Nile to improve the economic situation in South Sudan.