National, News

Central Bank reports progress in financial stability

By Deng Athian


The Bank of South Sudan (BoSS) has reported significant progress within the 100-days strategy of governor, Dr. James Alic Garang.

Dr. Alic’s strategy focuses on modernizing the bank, optimizing operational procedures, and prioritizing staff well-being.

The bank’s recent announcement reflects the efforts, marking a significant steps toward financial stability.

Modernization & Efficiency at the Forefront.

BoSS governor, Dr. Alic has spearheaded the development of a comprehensive modernization plan for BoSS. This strategy aims to enhance the bank’s efficiency, effectiveness, and technological capabilities, ultimately leading to improved services and operations.

Reorganization of the Forex Market; Phase 3 of the Foreign Exchange (FX) market reorganization is underway, driven by Dr. Garang’s leadership. This aims to increase transparency, liquidity, and market dynamics, leading to a more stable and efficient FX system.

BoSS stated that its organizational structure is undergoing a revamp under Dr. Garang’s direction. This ensures effective delivery on the bank’s mandate and enhances its regulatory and supervisory functions over the financial sector.

Investing in People.

Improved Staff Welfare; Dr. Garang has reportedly implemented new benefits and policies to significantly improve the well-being of BoSS staff. This includes enhanced working conditions, improved healthcare benefits, and opportunities for professional development and growth.

Furthermore, a merit-based system for staff promotions has been introduced by Dr. Garang, recognizing and rewarding outstanding performance. This motivates employees and fosters a culture of excellence within the bank.

Driving Financial Inclusion & Collaboration.

Innovative Financial Inclusion Programs; Dr. Garang champions the implementation of innovative programs aimed at reaching underserved communities. These programs expand access to financial services, promote economic empowerment, and foster inclusive growth across South Sudan.

Collaboration with international financial institutions like the IMF and World Bank is a priority for Dr. Garang. This strategic engagement aims to secure expertise, resources, and funding opportunities that contribute to the country’s economic growth and stability.

A comprehensive communication strategy ensures that BoSS’s messages reach the public, government agencies, and international partners effectively.

Dr. James Alic Garang’s commitment to positive change within BoSS lays a strong foundation for its continued success and contribution to South Sudan’s financial sector and economic development.


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