JUBA, July 31, 2026 — President of the Republic, His Excellency Salva Kiir Mayardit, has issued a stern warning over South Sudan’s worsening economic challenges, declaring that failures within the country’s financial sector will no longer be tolerated as he presided over the swearing-in of Dr. Addis Ababa Othow as the new Governor of the Bank of South Sudan.

Speaking during the ceremony on Friday, President Kiir directed the new central bank Governor and other financial authorities to implement urgent reforms aimed at restoring public confidence in the banking system, resolving the persistent liquidity crisis, and stabilising the national economy.

The President expressed concern over the continued cash shortages that have prevented bank customers from accessing their own deposits, describing the situation as unacceptable and calling for immediate corrective action.

“I will not tolerate whatever is done here. When people deposit money in their accounts and they come tomorrow to withdraw it, they are told there is no cash. I’m surprised…this issue of the cash crunch must stop, and people in the financial and banking sector must fix this loophole,” President Kiir said.

The President’s remarks come as South Sudan continues to face a prolonged liquidity crisis, rising inflation, and increasing pressure on the banking sector, with many commercial banks struggling to meet customers’ demand for cash withdrawals.

In his remarks after taking the oath of office, Dr. Addis Ababa Othow pledged to work closely with the government, financial institutions, and other stakeholders to rebuild public trust in the banking sector and implement reforms aimed at strengthening monetary stability and addressing the country’s economic challenges.

Dr. Addis brings to the position an extensive background in economics, banking, academia, and public sector reform. He holds degrees in Economics, Finance and Accounting, Economic Development, Political Economy, and Business Administration from institutions in Sudan, the Netherlands, and the United States. 

His academic research has focused on economic development, political stability, financial institutions, and sustainable growth, providing a strong foundation for leading the Bank of South Sudan at a time when the country is seeking to restore financial stability and strengthen public confidence in its banking system.

Officials said Dr. Addis assumes office at a critical moment, as the government intensifies efforts to curb inflation, improve access to banking services, strengthen financial sector governance, and restore confidence in South Sudan’s financial system.

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This article is based on official sources. Additional context and analysis provided by Juba Global News Network.

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