South Sudan Cash Transfer

Some members of the public who shared their struggles withdrawing money from banks due to cash shortages have called for urgent reforms to restore their trust in the banking sector.

They spoke on Wednesday on Eye Radio’s Dawn Show.

In recent weeks, members of the public have raised concerns about being unable to withdraw cash from banks and mobile money outlets.

However, many said they were told they cannot receive the full amounts they request due to a shortage of liquidity, citing the decline in economic activities.

Mama Maria and her family have been locked in financial limbo after depositing the proceeds from a house sale, only to find that some banks were unable to release the cash due to a severe currency shortage.

“If you deposit your money in the bank, you are finished,” she said.

“My brother-in-law, who became old, told my husband he wanted to sell his house because later people will grab it. My husband ran up and down and processed for him all the necessary documents, and they sold his house, and the money was deposited in the bank.

“When they went to withdraw this money, they found that there was no money in the bank – now three years later,  and we don’t know if there’s money or not,” narrated Eye Radio regular caller Mama Maria.

Another caller, Sultan Joseph, said: “I used to deposit my money into my account at the KCB of Northern Bahr el Ghazal state. But when I went there and asked to withdraw, they told me to withdraw a small amount, and tomorrow, also the same thing. When I went again, the same thing happened, and I became shocked.”

Other callers like Sultan Joseph suggested a change in currency to address hoarding, but this should be backed up with a strict law.

“If we want this economy to be improved, let them change the currency, to bring a law that can rule those traders.”

In December last year, the Governor of the Bank of South Sudan announced the removal of the 10 million South Sudanese pounds cash withdrawal limit for clients from individual accounts.

This came after the Bank of South Sudan convened a critical consultative meeting with the Managing Directors of commercial banks on December 12, 2024, at its headquarters in Juba.

In several statements, the Bank of South Sudan and commercial banks reaffirmed their commitment to strengthening working relationships within the country’s banking and financial sectors.

In February 2025, the Bank of South Sudan announced the establishment of a National Instant Payment system to ease transactions between persons, financial and, government institutions, and businesses.

The financial regulator launched the initiative in collaboration with African Enda, an independent African-led organization working toward accelerating the expansion of inclusive instant payment systems across the continent.

This month, the Financial Intelligence Unit, a department of the National Security Service Internal Bureau, issued an order against individuals keeping bulk cash outside of the bank.

It warned violators of punitive measures.

In an interview with Eye Radio on Tuesday, Economist Ahmed Morgan, who also lectures at the University of Juba, said such a move will not be successful, citing public mistrust in the financial system and political instability.

He argues that a decline in economic activities due to an unfavorable political situation makes it difficult for the central bank to regulate money, as commercial banks do not invest in the economy.