South Sudan's English Daily Newspaper
"We Dare where others fear"
By Awan Achiek
The Governor of the Bank of South Sudan Dr. James Alic Garang on Friday designated four locations for local money changers to operate.
He issued a ten-day ultimatum for money changers to operate under shades or umbrella in a move aimed to organize them.
“Currency traders operating outside the jurisdiction of the Central Bank are authorized to strictly operate in four locations across Juba, and this would start on Monday, December 4 to December 14, 2023,” said Garang during press conference held at the bank’s headquarter in Juba.
He designated Juba town, Customs market, Jebel market and Konyo-Konyo market for money changers to operate.
“This is the timeline we are giving to them to operate in four locations, they can choose to operate inside a shop, under a tree, under an umbrella, whatever style they choose but they must be operating in designated areas,” said Garang.
Garang said they are aiming to ensure unauthorized currency dealers find discernable structures to operate in.
He said the money changers are encouraged to form groups or associations so that they are given licenses to operate as foreign exchange bureaus.
Garang added this move will help the bank to fast-track the registration process of unauthorized dealers.
“We think that those who are trading in currency have needs to meet and for this reason they should be treated decently. All we are telling is that we are not doing wrong, we are just asking to reorganize them and have a platform where they are visible and where they can trade freely,” he said.
Garang said he would engage Juba City Council and law enforcement agencies to take action on money changers who do not heed the directives.
