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South Sudan, Kenya bank governors discuss cooperation, reforms

By Ngor Deng Matem

 

Central Bank governor Dr. James Alic, on May 31, 2024 discussed leadership experiences cooperation with the Bank of Kenya (CBK) Governor Dr. Kamau Thugge during a visit to the KBK headquarters.

The two bank leaders discussed strengthening bilateral cooperation and explored areas where the CBK could provide technical assistance to the BoSS, particularly in bank restructuring, liquidity management, and economic forecasting.

“We’re delighted to receive you as a colleague and partner,” said Dr. Thugge.

“The CBK stands ready to support the Bank of South Sudan through capacity building, training, and sharing experiences on policy modernization and banking system reforms.”

The meeting comes at a significant time, as this week Dr. Thugge was named the African Central Bank Governor of the Year by the prestigious African Banker Magazine.

In its citation, the magazine noted the “significant challenges” faced by central bank leaders across the continent amidst economic and geopolitical turmoil.

Dr. Alic, who also serves as the Chair of the Monetary Affairs Committee of the East African Community, praised the productive discussions with his Kenyan counterpart.

“The meeting focused on strengthening our bilateral relations and identifying key areas where the CBK’s technical assistance could benefit the BoSS, particularly in restructuring, liquidity, and forecasting,” he said.

The recognition of the central bank governors’ leadership extends beyond the regional level.

In April 2024, Dr. Alic was commended by an African leadership organization in the United States for his “outstanding achievements and contributions to the socio-economic development of South Sudan and Africa.”

Additionally, the House of Representatives in the U.S. state of South Carolina named Dr. Alic one of the “Top 25 African Finance Leaders of 2024” for his work in enhancing access to finance for small and medium enterprises.

On the 30th May 2024, the President Salva Kiir declared the Bank of South Sudan as independence institution.

 

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