Cabinet Minister Dr Martin Elia Lomuro speaks at the launch of the National Interbank Payment and SettlementY System at the Bank of South Sudan Headqaurters on Friday, October 10, 2025 - Photo Credit: Bank of South Sudan

The Minister of Cabinet Affairs has accused some commercial banks in South Sudan of denying loans to local businesspeople while offering the same services to foreign-owned businesses.

Dr. Martin Elia Lomuro made the remarks during the launch of the country’s first Interbank Payment and Settlement System in Juba on Thursday.

He said the new platform will enable faster, safer, and more transparent transactions between banks by allowing the exchange of funds and securities in real-time.

Dr. Lomuro stated that the lack of such a system in the past allowed some private banks to move money in and out of the country without proper government oversight.

“From today with this system, we expect the banks to be fully compliant with the laws and regulations of our country. This country is the only country where commercial banks do not offer loans for businesses. And I can point at buildings and hotels owned by foreigners given loans throughout some commercial banks in this country,” he said.

“This is the only country where some [bank] M.D.s are so powerful that they’re even accompanied by national security. They’re guarded. This must come to an end. We are a free country. We cannot be bullied by M.D.s and CEOs. When we have a system that is free and fair, it should not be abused. It means we don’t know why people lost lives independence of all 50 years,” he said.

He said discriminative practices in the banking sector must stop, adding that laws and financial regulations must be enforced to protect South Sudanese entrepreneurs.

Dr. Lomuro also blamed weak implementation of laws as a key reason why public institutions in the country continue to fail.

“One of the things that is making us fail is don’t implement our laws that guide us because of negligent. This is where we are failing. If the law says do this, you do it, even if it’s your mother or father because that’s only way to succeed. Let’s learn,” he stated.

“We cannot go anywhere without economic development, without economic efficiency, without economic support to the citizens. Young people graduating should have the opportunity to get mortgages to build themselves houses rather than to corrupt. People who want to do business should be able to access business loans rather than corrupt,” he added.

The Interbank Payment and Settlement System is expected to improve financial services, enhance efficiency in the banking sector, and strengthen South Sudan’s national payment infrastructure.