By Bosco Bush
Central Bank of South Sudan has acquired 24,000 square meters of land to establish a new branch in Bentiu, Unity State, in a bit to expand the country’s financial system.
On Wednesday, Bank Governor Dr. James Alic, along with other senior officials, visited Bentiu to officially receive the allocated plot from local authorities.
According to the office of the governor, this expansion is part of the bank’s broader nationwide strategy as outlined in the Bank of South Sudan Act, 2011 [as Amended], and fulfilment of last year’s “Governors Forum” resolutions to extend the institution’s presence to other areas across the country.
“The new branch aims to improve transparency and offer vital advisory services to the state government, fulfilling a key resolution passed at last year’s governors forum to extend the bank reach and provide greater access to finance across the country,” partly read a statement.
In March, the Bank of South Sudan opened a new branch in Nimule to ensure effective collection of non-oil revenue collection.
If established, it will bring the total number of recently erected new branches to four, including Kuajok, Nimule and Aweil branches.