Central Bank announces roll out of instant payments system

The Bank of South Sudan in partnership with AfricaNeda Foundation on Monday announced the roll out of the National Payment Instant Payment System (NIPS), designed to streamline transactions across all banks and financial institutions in the country.
Johny Ohisa Damian, Governor of Bank of South Sudan [Photo by GPU]

By Awan Achiek

The Bank of South Sudan in partnership with AfricaNeda Foundation on Monday announced the roll out of the National Payment Instant Payment System (NIPS), designed to streamline transactions across all banks and financial institutions in the country.

 The new system will allow real-time transfers of funds between banks and mobile money platforms, offering South Sudanese an instant, secure, and low-cost method to send and receive money.

Johny Ohisa Damian, Governor of the Bank of South Sudan said the initiative is part of the Central Bank’s ongoing efforts to build an efficient financial ecosystem and boost financial inclusion.

“This transformative project marks a pivotal milestone in the modernization of South Sudan’s financial and payment infrastructure, advancing the bank’s commitment to providing enhanced financial services for all citizens,” Ohisa said in a statement.

Ohisa said NIPS will integrate a robust mobile money ecosystem with the banking sector and other financial institutions.

“The start of the NIPS journey marks a monumental step forward for financial and socio-economic inclusion in South Sudan,” he said.

Ohisa noted that the partnership with AfricaNeda Foundation will transform the financial services landscape, foster inclusivity and create a resilient digital economy.

“This initiative underscores BOSS’ commitment to building a sustainable, innovative and inclusive financial future for all South Sudan,” he said.

Ohisa noted that instant payment systems are transformative tools that redefine access to financial services and promote inclusivity, adding that South Sudan is laying the foundation for a more connected and resilient economy that benefits every citizen.

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