National, News

Gov’t woos traders to save money in banks

By Gladys Fred Kole


Government is urging business community to use commercial banking services instead of keeping their money in their homes and shops.

This appeal was made during a joint market inspection carried out yesterday by officials from the national, state, and Juba city council and the SPLM Secretary General at the Konyo-Konyo market.

The purpose of the inspection was to gather firsthand information on the prices of essential goods in order to take measures to reduce them.

The governor of the Central Bank, Dr. James Alic Garang said there’s so much liquidity sitting outside the banking system that is not acceptable.

“We have communicated it, and we would like to highlight it here to all the traders, take your money to the bank. If you don’t have an account with a commercial bank open one,” he said.

He said, there is a need for us to embrace, support and champion the need to advance the electronic payment system.

“Look at regions like Kenya, Rwanda, Somalia people are moving away from cash to electronic means of payment. In this country, in this city, if you are one of those who are carrying cash in trucks it’s illegal to do so,” he stated.

According to him, to minimize the risk of carrying cash, traders should resort to banking, electronic means of payment.

William Anyuon Kuol, Minister of Trade echoed that the issue of traders keeping money in the shop, and they don’t remit to the bank is not ideal.

“Whether commercial or any licensed entity that is supposed to keep the money, we have given them the directive to take the money to the bank and this is also a concern of our people,” he said.

However, the Minister of Finance, Awow Daniel, urged traders to learn how to deposit their money in the banks.

“In the bank, you can transfer and not use sacks to give someone to bring goods for you. In the bank it’s not from person to person, it is in order even you can exchange while in the bank,” he urged.

Santo Malek Anai, SPLM Deputy Secretary for political affairs, mobilization and organization strongly urged those doing business to take the call to keep the money in the bank seriously.

He said that the user is you at the end of the day, it is important and as a government, they will be taking this matter seriously.

Malek said, there’s no benefit in keeping money in the shops and at home.

“If you keep money at home or in the shops, it will be considered money laundering,” he said.

Representing the Central Equatoria government, Deputy Governor Sarah Nene said that trader’s money is not supposed to be kept in the house or shops in the first place.

She said the government is having e-tax system where one can transfer money around.

“We are going to carry this inspection for one week, anyone found with cash will be arrested. People should listen such that we can help citizens,” Nene said.


Comments are closed.