Kiir present new Bank headquarters as ‘independence day gift’
President Salva Kiir said the new headquarters of the Bank of South Sudan which he inaugurated on Monday is a gift to citizens on the country’s 13th Anniversary of Independence.
The construction of the grand multi-purpose building in Jebel suburb of Juba was launched in February 2022 and was expected to be complete in February this year – being at least five months behind schedule.
The premises, constructed by Shandong Construction Company, will accommodate the entire Central Bank staff, shaping the face of the country’s financial institution.
The facility has 12 floors and a conference center that can host more than 500 people, in addition to a vast recreational center containing a sports gym, restaurant and other amenities.
“Your excellencies, it is my pleasure to open this landmark financial structure today,” Kiir said in his address to senior officials.
“As we prepare to celebrate the most important day, that is the independence day, I present this new headquarters as a gift to our citizens.”
The ceremony was attended by high ranking officials including ministers, advisors, head of financial institutions and diplomats including the Chinese Ambassador to South Sudan, whose country’s construction firm was the contractor.
The president also said the independence of the Bank of South Sudan, which he declared in May this year, will allow it to deliver on its core mandate.
The president invoked a constitutional provision that provided for the independence of the Bank to execute its statutory and supervisory functions – in line with implementation of the 2018 peace agreement.
The Bank of South Sudan is an independent monetary institution established in 2011 to maintain price stability and promote a healthy domestic economy.
It has inaugurated eight branches across the country to provide essential banking services, support economic development, and ensure financial stability. These include branches in Aweil, Nimule, Malakal, Wau, Yei, Rumbek, Kuajok and Bor.
South Sudan is grappling with severe inflation as the national currency weakened against the US dollar after a major pipeline transporting 60 percent of the crude oil to Port Sudan broke down in February 2024.
The situation has left civil servants unpaid for months while triggering a sharp increase in commodity prices and leaving families struggling to feed themselves.
Kiir also encouraged the Bank staff to support the leadership and cooperate with other institutions to advance policies of the government.
