https://en.sputniknews.africa/20240920/south-sudan-embarks-on-cashless-transition-1068351492.html
South Sudan Embarks on Cashless Transition
South Sudan Embarks on Cashless Transition
Sputnik Africa
South Sudan's economy is facing a number of challenges, including low wages, poor management of non-oil revenues, declining oil production, and the conflict in... 20.09.2024, Sputnik Africa
2024-09-20T17:11+0200
2024-09-20T17:11+0200
2024-09-20T19:11+0200
sub-saharan africa
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south sudan
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The government of South Sudan officially announced a shift to cashless payments for civil servants and departmental funds in an effort to streamline financial processes, reduce corruption, and improve tax revenue mobilization.The government is promoting the use of commercial banks, online platforms, and mobile money transfers. Finance Minister Marial Dongrin Ater also highlighted other economic objectives, including increasing crude oil exports, securing financial backing, promoting digitalization, and fostering food security.While the recent strengthening of the South Sudanese pound has provided some economic relief, the lack of corresponding price reductions in the marketplace continues to frustrate citizens. Additionally, limited access to banking services and low mobile phone penetration are significant obstacles to a successful transition.
https://en.sputniknews.africa/20240917/south-sudan-and-sudan-take-steps-towards-restarting-oil-exports-south-sudans-authorities-say-1068307937.html
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economy, south sudan, east africa, finance, finance minister, bank, banking, taxes, development
economy, south sudan, east africa, finance, finance minister, bank, banking, taxes, development
South Sudan Embarks on Cashless Transition
17:11 20.09.2024 (Updated: 19:11 20.09.2024) Ekaterina Shilova
Writer / Editor
South Sudan's economy is facing a number of challenges, including low wages, poor management of non-oil revenues, declining oil production, and the conflict in neighboring Sudan. These factors have created a pressing need for economic reforms in the country.
