Digital finance in South Sudan is getting a new framework. On Wednesday, 4 November, in Juba, the Bank of South Sudan (BoSS) and the National Communication Authority (NCA) signed a memorandum of understanding to strengthen their cooperation on regulation, cybersecurity and the security of digital financial services. The document bears the signatures of central bank governor Addis Ababa Othow and NCA director general Eng. Gieth Kon Mathiang.
The reasoning behind the agreement is straightforward. As mobile payments spread, banks, telecom operators and fintech firms increasingly operate on shared ground that falls under both the monetary authority and the communications regulator. The memorandum is designed to put cooperation between the two institutions on a formal footing.
The text sets out several goals. It provides for a consistent regulatory framework for digital financial services and for structured channels of cooperation and information sharing, including in real time. The two regulators will be able to carry out joint supervision, investigations and enforcement where their mandates overlap. The agreement also aims to foster a fair and competitive environment for local fintech players while strengthening consumer protection against online threats.
For Governor Othow, modernising banking infrastructure and digital payment systems depends on secure communication networks and strong cybersecurity. Gieth Kon Mathiang, for his part, highlighted the role of resilient technology in building public trust in digital financial services.
The signing is part of a wider push. In July, the authorities brought into force the Cybercrime and Computer Misuse Act, passed by parliament in late 2025, and set up a national cybersecurity task force and steering committee. The NCA also relies on a national computer incident response team to monitor and respond to cyber threats. Meanwhile, the central bank and the finance ministry are working with telecom and mobile money operators to integrate the national payment system and broaden financial inclusion, with support from partners including the United Kingdom.
There is still a long way to go. The country does not yet have a fully operational data protection regime, with a bill announced for 2026, and its connectivity still relies heavily on costly satellite links.
For one of the world’s youngest and least connected states, this agreement between regulators nonetheless lays an important building block. The question now is how it will translate into safer transactions and greater user confidence on the ground.