Electronic cash transfer is long overdue if South Sudan wants to catch up with the region

Majority of South Sudanese are used to carry bulky cash to transact business, and yet people in neighboring countries have long moved on from this risky approach.

The Bank of South Sudan announced this week that it is has introduced electronic banking and cash transfer, as part of measures to mop up excess liquidity.

Other measures include introduction of small currency denominations, injection of forex exchange and regulating of informal forex delears. It is these measures that have seen the South Sudan Pound regain value against t4he stronger U.S dollar.

The advantages of electronic cash transactions reduce risks of theft, and also ease business transactions.

It is well known that majority of the political class and elites in this country keep hoards of cash in their houses. The ongoing measures being implemented by the central bank are sowing some panic among individuals who store bulky cash in their houses.

It is these very individuals who are partly to blame for the unstable currency exchange rate in the market.