Africa-Press – South-Sudan. The Bank of South Sudan (BoSS) has directed all licensed commercial banks in the country to connect to the South Sudan Interbank Payment and Settlement System (SSIPSS) within three months or face penalties.
In a circular dated November 4, 2025, and signed by the Governor of the Central Bank, Dr. Addi Ababa Othow, BoSS announced that the mandatory connection follows the successful launch of the SSIPSS on October 10, with thirteen commercial banks already operating on the platform.
“The SSIPSS represents a significant milestone in strengthening the efficiency, security, and stability of the national payment infrastructure,” Dr. Othow stated.
According to the circular, all commercial banks are required to complete their connection to the system by January 31, 2026. The directive, issued under Section 12(1) of the Bank of South Sudan Act, 2011 (as amended in 2023), makes participation in the payment platform compulsory for all licensed financial institutions.
BoSS warned that any bank failing to meet the deadline will face strict regulatory measures, including a late connection charge of USD 100,000 or its equivalent in South Sudanese Pounds at the prevailing rate.
“Persistent failure to comply may result in additional regulatory penalties, including restrictions on participation in certain interbank operations or other sanctions as deemed appropriate by the Bank of South Sudan,” the circular reads.
The Central Bank also said it reserves the right to publicly disclose the names of non-compliant institutions.
Dr. Othow emphasized that full integration into the interbank payment system is essential for achieving “a modern, efficient, and interoperable national payments ecosystem.”
He added that the Bank remains committed to supporting all financial institutions during the onboarding process and encouraged commercial banks to coordinate with the National Payment Systems Department for technical assistance and implementation guidance.
“All commercial banks are therefore urged to give this directive utmost priority and ensure full compliance within the specified timeframe,” Dr. Othow said.
The SSIPSS aims to modernize South Sudan’s financial sector by improving transaction efficiency, strengthening security, and promoting digital and cashless payments across the country.
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