President Salva Kiir Mayardit’s directive to the Central Bank leadership to initiate reforms and deter “kickback” tendencies at the institution must not be taken lightly.
Kickbacks could be the reason for the persistent obnoxious gap between hard currency exchange rates in Central Bank visa-vi that in the black market.
A negative ploy at an institution of economic epitome of a nation constitutes a great crime and imbalance, when not adequately steered, it might derail the system.
As of 12th June 2025, a dollar sells at 4591. 9679 SSP in Central Bank, but over 6000 SSP in the black markets and forex bureaus. Rounding up the Bank rate, it comes to 4,600 SSP per dollar, leaving a difference of 1, 400 SSP, as profit for those that operate in the black market.
The enormous gap in exchange rates, which might have been created to get a share for those demanding kickbacks in the Central Bank, could equally be the reason for the hush commodity prices that citizens are suffering in the country.
Unknowingly, the masses point to the government, yet few unscrupulous, greedy individuals are behind predicament of the majority. The perpetrators must be shoved out.
For a president to raise such concerns depicts a leader who holds his nation at heart. It’s not easy to take a bold decision on the callous, as those in the practice are mighty and fierce, but a good leader always considers interests of the citizens prior to his own.
By entrusting individuals to partake tasks on his behalf, President Kiir has bestowed a great honour upon the news leadership of Central Bank, which they must execute efficiently with due diligence.
Crippling economy literarily cripples the lives of citizens. Burst out of the den of the “kick-backers” to save the nation.