The Bank of South Sudan (BoSS) and the National Communication Authority (NCA) have signed a Memorandum of Understanding (MoU) to enhance regulatory cooperation, cybersecurity, and digital financial services security in South Sudan. The agreement was signed in Juba by BoSS Governor, Hon. Dr. Addis Ababa Othow, and NCA Director General, Eng. Gieth Kon Mathiang. This MoU aims to promote a consistent and effective regulatory framework for Digital Financial Services (DFS).
During the signing ceremony, Governor Othow emphasized the Central Bank's responsibility to safeguard the integrity, security, and resilience of the financial infrastructure. He stressed that secure communication networks and strong cybersecurity measures are crucial for modernizing banking infrastructure and strengthening digital payment systems. The Governor noted that the agreement renews the commitment of the two institutions to cooperation, building on initiatives launched in 2025.
Eng. Gieth Kon Mathiang said the NCA is committed to working with the BoSS to ensure the agreement delivers practical results. He expressed the authority's willingness to work closely with the bank to strengthen the security of digital financial services and build greater public trust. The MoU aims to establish structured cooperation and information-sharing mechanisms, facilitate joint supervision, investigations, and enforcement where the institutions' mandates overlap.
The updated MoU builds on the original agreement established in 2018. According to Bul Koryiom, Director of the Cybersecurity and Business Continuity Planning (BCP) Department at the BoSS, technological developments and the growing use of digital financial services made the review necessary. He commended the technical and legal teams from both institutions for their contribution to the review process.
The MoU also aims to promote a fair, competitive, and enabling environment for digital financial services, and enhance consumer protection and cybersecurity. The signing ceremony was attended by the bank's deputy governors, directors-general, and other senior officials from both institutions. This agreement demonstrates the commitment of the BoSS and NCA to protecting the country's financial infrastructure.
The agreement is expected to have a positive impact on the country's digital financial services sector. By strengthening regulatory cooperation and cybersecurity, the BoSS and NCA can help build trust in digital financial services and promote financial inclusion. This, in turn, can contribute to the country's economic growth and development.
The BoSS and NCA will work together to implement the agreement and strengthen cybersecurity resilience in the financial sector. The two institutions will translate this agreement into practical results that benefit the people of South Sudan. The MoU is a significant step towards enhancing the security and stability of the country's financial system.
Key points
- The MoU aims to promote a consistent and effective regulatory framework for Digital Financial Services (DFS) in South Sudan.
- The agreement was signed by BoSS Governor, Hon. Dr. Addis Ababa Othow, and NCA Director General, Eng. Gieth Kon Mathiang.
- The MoU builds on the original agreement established in 2018 and aims to enhance consumer protection and cybersecurity.
