By Kiden Stela Mandela
This nation stands at a critical moment in its economic journey. For some time now, many of the people have faced difficulty withdrawing their own money from commercial banks.
This challenge has caused frustration, uncertainty, and, in some cases, a loss of confidence in our financial system. We must speak openly about these issues and work together toward practical solutions.
The liquidity crisis people are experiencing did not arise overnight. It is rooted in broader economic challenges facing the country, including reduced revenues, inflationary pressures, and disruptions in financial flows.
At the same time, the practice of keeping large amounts of cash outside the banking system, whether in homes or informal networks, has worsened the situation.
When money is held outside banks, it limits the ability of financial institutions to serve the public effectively.
There are also growing concerns among citizens about the circulation of hard currency and the availability of new South Sudanese pound notes in informal markets (black markets).
Questions are being raised: where is this money coming from, and why is it more accessible outside the formal banking system than within it? These concerns are valid and deserve transparency and accountability from all stakeholders involved.
The recent announcement by the Bank of South Sudan to release more cash into the economy is a step in the right direction. It is intended to ease the liquidity shortage and restore normal banking operations.
However, the success of this measure depends not only on policy decisions but also on the cooperation of the citizens.
They should rebuild trust in the country’s financial institutions. Citizens will make use of the banking system for saving and transactions if the government really provides the commercial banks with cash.
Keeping money in banks is not only safer but also supports the circulation of funds needed for businesses to grow and for the economy to stabilise.
At the same time, authorities must ensure that banks operate transparently, efficiently, and fairly so that public confidence can be restored.
Let us also discourage practices that undermine our economy, including hoarding cash and engaging in unregulated currency trading.
These actions may benefit a few in the short term, but they harm the nation as a whole.
By working collectively, financial institutions, the government, and the citizens can restore stability, strengthen our economy, and build a future where every South Sudanese has reliable access to their hard-earned money.
God protect South Sudan
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