Sheila Ponnie
Africa-Press – South-Sudan. Bank of South Sudan premises in Malakal, Upper Nile State. [Sheila Ponnie, The City Review]
The newly-appointed director of the Bank of South Sudan in Malakal branch, Donglia Balingo, vowed to strengthen the banking sector in Upper Nile State.
Balingo, who assumed duties just a month ago, said that he would bring essential financial services back to the region which has braved prolonged bouts of conflicts.
“We are responsible for managing government accounts, particularly those of Upper Nile State,” he told The City Review last week.
“Our presence here aims to encourage commercial banks to return and operate in the region, as the stability and support of the central bank can signal a conducive environment for their operations.”
Currently, Malakal lacks commercial banking services, a situation that the Bank of South Sudan is determined to change.
The branch has been operational for two years and has already attracted interest from several commercial banks.
“We have had delegations from Nile Commercial Bank and South Sudan Agricultural Bank assessing the premises. We are also engaging with Ivory Bank and Kenya Commercial Bank (KCB), which is still operating within the POC (Protection of Civilian) site,” he said.
The director emphasized the importance of expanding banking services beyond the POC site to the broader Malakal community.
“It’s crucial to extend financial services to everyone in Malakal, not just those within the POC. We have also encouraged a foreign exchange bureau, DAFSHIR, to operate here, indicating growing financial activities in the state,” he stated.
He said that the commercial banks that had branches in Malakal before the 2016 conflict included Equity Bank and KCB.
“Most commercial banks fled after the conflict, but now is the time to reassess and return,” he urged. “Their presence will greatly benefit the community by facilitating financial transactions, reducing costs, and ensuring security.”
The return of commercial banks is also vital for the agricultural sector, which has significant potential in Upper Nile State.
“The South Sudan Agricultural Bank, for instance, can play a critical role in supporting local farmers, helping with storage, purchasing crops, and providing financial data,” he highlighted. “Commercial banks will also aid in lending and transfers, crucial for economic growth.”
Source: The City Review South Sudan
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