Bank of South Sudan headquarters in Jebel, Juba. (Photo: Eye Radio).

The Bank of South Sudan has announced it will roll out the country’s first-ever National Interbank Payment and Settlement System (NIPSS) in the second week of September.

The Central Bank says the move marks a major step in modernizing the country’s banking sector.

In a statement issued on Monday afternoon, Dr. Addis Ababa Othow, Governor of the Bank of South Sudan, described the system as a “historic milestone in South Sudan’s digital payments and transformation journey.”

The interbank system is designed to help people and businesses send, receive, and clear money safely and efficiently.

Dr. Othow says the new platform will help the economy function more effectively, integrate South Sudan into global markets, and support the needs of the people.

He says the system will also reduce costs, improve efficiency, and bring more transparency to financial transactions.

The Bank of South Sudan says by recording every transaction electronically, the system will create a clear audit trail—making it easier to fight fraud, money laundering, and other illegal financial activities.

“The days of slow, risky, and manual transfers are gone. With this system, large-value transactions will now be settled in real time. Government payments to suppliers, interbank lending, and corporate transactions will take seconds, not hours or days,” said Dr. Othow.

Dr. Othow also said the platform will support the Central Bank’s ability to manage liquidity, stabilize the national currency, and carry out effective financial policies.

He says the system will benefit ordinary citizens—for example, government salaries could be paid instantly, small businesses may get quicker access to credit, and farmers could receive digital payments for their produce without delays. Government services are also expected to improve.

However, he warned that the success of the new system depends on ongoing investment in digital literacy and innovation by financial institutions.