Man counts a bundle of 50 SSP notes. [Photo: ELRHA]

This comes after the Central Bank directed for digitalization of financial services including digital payment.

In a press conference on Tuesday, some mobile money companies in the country commented the financial regulatory body for the move, saying it will reduce the circulation of cash in the market.

Francis Matseketsa – the Chief Executive Officer of MTN Fintech – says they have waited on the government to encourage the adoption of such vital development of digitalizing transactions including payment.

Matseketsa underscores that, with the already existing opportunity, the public can easily transact digitally across the states.

“We commend the central bank and we are super excited. We have been waiting for authorities to come and encourage the adoption of digital payments. Now that the government and monetary authority have taken this move, we are excited to run with this wake to ensure that we digitized payments,” said Matseketsa.

“We have got the tools and weaponry. We accept a wide variety of identification from customers to enable financial inclusion and digitizing payment,” he said.

“When you look at the opportunities that already exist, everyone who is holding a phone with networking wherever they are, we can bring them onboard and transact with others across all states,” he added.

Mou Thiik, M-gurush managing director operating in South Sudan welcomes the initiative and says it is embraceable.

According to him, this development should be made mandatory for all the banks including monetary entities to shift from manual to digital transactions.

Mou added for the initiative to be realized, all the mobile money companies in the country should commit to it beyond their self-interest.

“We want to embrace what you have just mentioned now but we would love for the authorities should put a plan when these banks must move on to use the digital economy in this country then we will be able to move on with this initiative,” said Mou.

“This is something that the government have to be serious about because this is our country and if we want to move on, we have to go beyond our self-interest,” he said.

“I think if we can work on that, this initiative would be very commendable and we hope this would work.”