South Sudan's English Daily Newspaper
"We Dare where others fear"
By Simon Deng
The Bank of South Sudan has marked almost two years since the signing of the agreement between the World Bank and the Bank of South Sudan for the financing of net skills for financial sustainability.
“Today, September 15, 2025, marks almost two years since the signing of the agreement between the World Bank and the Bank of South Sudan for the financing of the South Sudan Net Skills for Financial Sustainability (3SF) Project. It also marks the beginning of a week-long visit by a World Bank Observer Mission to evaluate our achievements thus far,” said the Bank of South Sudan in a statement.
“The 3SF project, although signed in December 2023, came into effect on 28 February 2024 and will run for a period of five years, ending in September 2028. It is a significant collaboration between the Government of South Sudan and the World Bank as a crucial development partner,” it said.
The Central Bank revealed that the project aims to build stability in South Sudan’s financial sector, enhance the institutional and operational capacity of the finance and banking sector, and promote sustainable economic growth.
The Bank also stated that the implementation arms of the project include the International Development Agency of the World Bank as project funders, the Government of South Sudan through the Ministry of Finance and Planning as the recipient of the World Bank grant, the Bank of South Sudan as the implementing agency, the South Sudan Financial and Intelligence Unit (FIU) as one of the institutions earmarked for strengthening, especially against money laundering and terrorism financing, and the Technical Support team comprising professional consultants.
“Since its commencement, it is worth appreciating that the project is on a commendable course and has earned several groundbreaking and trailblazing achievements, including the upgrading and modernisation of the internal governance structures of the bank, which set a reliable framework for solid accountability and transparency in the management of resources,” it said.
“The process has seen the establishment of the Modern National Payment Systems (NPS) to streamline the movement of money internationally, provide a more efficient government payment system where disbursements are more expeditious, and provide investors with faster and safer money transfers,” it added.
The Bank also noted that the system has increased digital finance that supports mobile money and fintech innovations, thereby extending financial access to rural populations.
“Through improved digital systems, South Sudan citizens now experience faster and more reliable banking services; civil servants benefit from timely and accurate payments; and investors are more motivated to interact with a modern and secure infrastructure, which is a major boost to public and investor confidence,” it said.
The Bank is set to establish the South Sudan Institute of Banking and Finance (SSIBF), which will provide essential skills and knowledge to banking and finance professionals, thereby building human resource capacity in the banking sector domestically, rather than sending them abroad. It also stated that the institute’s establishment procedures are almost complete and aim to commence teaching activities by the end of 2025.
“Moreover, under the project, hundreds of banking professionals have been trained in crucial areas, including Monetary Policy, Risk Management, Banking Supervision, Financial Analysis, and Information Technology through organised professional workshops, seminars, and symposia,” it said.
It added that the project has introduced a modern and world-class Monitoring and Evaluation Framework to measure and audit operational gaps and recommend viable remedies for continuous improvement and growth.
“The project milestones provide viable and timely responses to these challenges. The Bank of South Sudan continues to be vigilant in dealing with future and emerging challenges. Moving forward, the 3SF project will endeavour to ensure that learning begins at the South Sudan Institute of Banking and Finance,” it concluded.
The project is being undertaken against a backdrop of numerous challenges, including high staff turnover and brain drain, which hinder the recruitment and retention of highly qualified staff in this sector, a fragile economic environment, limited technological infrastructure, and a citizenry that is largely unfamiliar with modern financial systems, including mobile banking and digital payments.
