South Sudan's English Daily Newspaper
"We Dare where others fear"
By Denis Ejulu
President Salva Kiir Mayardit on Monday inaugurated the new headquarters of the central bank.
Kiir said during the inauguration ceremony in Juba that the completion of the 12-floor storied building is an iconic gift to the people of South Sudan as they celebrate the 13th independence anniversary on July 9, 2024.
“It’s my pleasure to open this landmark financial structure today, this is a significant achievement by the Bank of South Sudan as we prepare to celebrate the most important day in the history of South Sudan that is the independence day, I present you the headquarter as a gift for our achievement,” Kiir said.
He noted that his recent decision granting full independence to the central bank will allow it to deliver on it’s core mandate.
Kiir urged government officials and citizens to focus on development activities to improve economic growth, and also to promote peace and social harmony in the country.
James Alic Garang, the Governor of the central bank said the new magnificent building will not only improve the efficiency and effective service delivery of the apex bank, but will also attract foreign investment and also help stabilize the financial sector.
“This work signifies years of dedication and shared commitment, all inspired by the central bank’s vision to reimagine it’s work space as an environment that motivates staff to serve with unparalleled excellence and professionalism,” Alic said.
“This headquarters, symbolizes our commitment to transform the Bank of South Sudan into the state-of-the -art central bank, while imposing it’s position as the singular regulator of the financial sector. This also signifies and serves as a symbol of progress and innovation in the financial sector, all with implication to attract investment and foster economic growth,” he added.
Samuel Yanga Mikaya, the First Deputy Governor of the central bank, said that previously the bank was having challenges of office space to accommodate it’s huge number of employees.
“It’s our commitment to setting new standards of excellence in public service, in this helpful environment we will foster financial stability, promote sustainable economic growth, and ensure wellbeing of our citizens,” Yanga said.
He encouraged the commercial banks and the other financial institutions to relocate their headquarters within the vicinity of the new central bank headquarters, adding this is in line with the vision to transform the Khor-Williang suburb into a flourishing financial hub.
“Such a development will enhance the banking sector and stimulate economic activities, thus creating job opportunities to South Sudanese,” Yanga said.
Ma Qiang, Chinese Ambassador to South Sudan, said the handover of the completed central bank headquarters is not only a historic moment for the bank but also a precious gift to the people of South Sudan on the eve of the 13th independence anniversary.
“As a good friend and good partner, China affirms it’s support to the South Sudanese government and people to actively explore the development path that suits their national conditions, and is willing to continue to provide necessary assistance to the peace process and economic and social development of South Sudan within it’s capacity,” Ma said.
Ma noted that China and South Sudan have continued to deepen mutual political trust, adding that the leadership of the two countries has strongly supported each other in issues involving their core interests, major concerns and pragmatic cooperation in various fields.
Zhang Bin, representative of Shandong Hi-Speed Company Limited which built the new central bank headquarters, said they mobilized around 800 engineers and workers to ensure that the project is completed on time.
“Eventually, we finished this project in two years and four months, also this project would not have been completed without the collective efforts from all stakeholders, and we would like to sincerely appreciate the support from the management and staff of the Bank of South Sudan for the support provided to us,” Zhang said.
“I would like to emphasize that what we have been doing is to fulfill the wish made by His Excellency President Salva Kiir Mayardit during his visit to Shandong Hi-Speed Company Limited headquarter in China in 2018,” he added.
The construction of the central bank headquarters commenced on February 26, 2022.
