Central Bank of South Sudan and FSD Discuss Cross-Border Payment System for East Africa
The initiative is aimed at enhancing financial inclusion and advancing digital banking integration across the region by improving the efficiency and interoperability of payment systems between countries.
The Governor of the Bank of South Sudan (BoSS), Hon. Johnny Ohisa Damian, and the Special Advisor to Financial Sector Deepening (FSD), Professor Njuguna Ndung’u, held discussions on Tuesday focused on the development and implementation of a cross-border payment system among East African Community member states.
The initiative is aimed at enhancing financial inclusion and advancing digital banking integration across the region by improving the efficiency and interoperability of payment systems between countries.
Professor Ndung’u, the former Governor of the Central Bank of Kenya and a key architect of Kenya’s national payment systems, emphasized that the initiative is designed to support central banks in establishing efficient regional payment frameworks while also strengthening domestic financial transactions at the micro level.
During the meeting, the officials explored areas of collaboration, including technical assistance and alignment with ongoing regional financial integration efforts.
Governor Ohisa welcomed the delegation and reaffirmed the Bank of South Sudan’s commitment to supporting regional financial integration and the adoption of modern payment solutions that promote economic cooperation and growth across East Africa.
