By Louis Loku
President Salva Kiir Mayardit has issued a strong warning over South Sudan’s worsening economic challenges, declaring that failures within the country’s financial sector will no longer be tolerated as he presided over the swearing-in of Dr. Addis Ababa Othow as the new Governor of the Bank of South Sudan.
Speaking during the swearing-in ceremony in Juba on Friday, President Kiir directed the new central bank governor and other financial authorities to implement immediate reforms aimed at restoring public confidence in the banking sector, addressing the persistent liquidity crisis, and stabilising the country’s economy.
The President said the government expects decisive leadership from the Bank of South Sudan to strengthen the financial system and improve economic management at a time when the country continues to face inflation, limited access to cash, and growing pressure on the banking sector.
He stressed that inefficiency and poor performance within financial institutions would no longer be accepted, urging the new governor to work closely with relevant government agencies to ensure sound monetary policies and greater accountability.
Dr. Addis Ababa Othow assumed office at a critical time as South Sudan grapples with economic difficulties that have affected businesses, public institutions, and ordinary citizens. The shortage of liquidity in commercial banks has remained one of the country’s major economic concerns, limiting access to cash and slowing commercial transactions.
The president expressed confidence that the new governor would provide the leadership needed to restore stability in the banking sector and support broader economic recovery efforts.
The appointment of Dr. Othow forms part of the government’s ongoing efforts to strengthen key economic institutions and implement reforms intended to improve financial governance, enhance public trust in the banking system, and promote sustainable economic growth.
The Bank of South Sudan plays a central role in formulating and implementing monetary policy, regulating financial institutions, managing the country’s foreign exchange reserves, and maintaining financial stability.
Expectations are high that the new leadership will accelerate reforms to improve the performance of the financial sector and help restore confidence among investors, businesses, and the public.