The new headquarters of the Bank of South Sudan (BOSS), inaugurated by President Salva Kiir on Monday, is expected to boost the economy and improve the financial sector in the country, said the Bank governor.
The multi-purpose building, located in Jebel Suburb, Juba, was launched on February 26, 2022, and completed five months behind schedule.
The 12-floor facility, constructed by Shandong High Speed, a Chinese
construction company, features a conference center, a recreational center with
a restaurant, and a workout complex.
Dr. James Alic Garang, the Governor of the Central Bank,
stated that the building is a symbol of progress and innovation in the financial
sector to attract investors.
“This headquarter symbolizes our commitment to transform the
Bank of South Sudan into a state-of-the-art central bank, while reinforcing its
position as the singular regulator of the financial institution. This also
signifies and serves as the symbol of progress and innovation in the financial
sector, all with the implication to attract investment and foster growth,” said
Alic.
During the inauguration, President Kiir referred to the new
headquarters as a “gift to the citizens” on the country’s 13th Anniversary of
Independence.
“This is a significant achievement by the Bank of South
Sudan. As we prepare to celebrate the most important day in the history of
South Sudan, that is the Independence Day. I present you Headquarters as a gift
to our citizens,” Kiir said.
In efforts to address the country challenge of high price
inflation due to the depreciation in the local currency against the US dollar,
the central bank continues to monitor the effectiveness of its monetary
policies, adjust interest rates, and intervene in the foreign exchange market
to maintain stability.
President Kiir encouraged the staff to support the
leadership and cooperate with other institutions to advance government
policies. He also urged citizens to focus on development and improving economic
growth.
Alic added that the facility would play a key role in the
East African Community (EAC) affairs, of which President Kiir is the
chairperson.
“The Bank of South Sudan is the key player in the East African Community affairs and all the communities. And for this reason, we continue to align with the EAC, and we have implemented the roadmap for a transition to a single currency in the years to come,” Alic stated.