The Bank of South Sudan (BoSS) and the National Communications Authority (NCA) have signed a memorandum of understanding (MoU) to strengthen cybersecurity, regulatory cooperation and the security of digital financial services.
The agreement comes as African countries step up efforts to protect digital services amid rising cyber threats across the continent.
According to BoSS, the MoU was signed by the bank's governor, Dr Addis Ababa Othow, and NCA director-general Gieth Kon Mathiang.
Othow said secure communication networks and robust cybersecurity were essential to modernising banking infrastructure and strengthening digital payment systems.
The agreement aims to establish a consistent regulatory framework for digital financial services, supported by structured cooperation and information-sharing mechanisms.
It also seeks to facilitate joint supervision, investigations and enforcement where the institutions' mandates overlap, promote a fair and competitive environment for digital financial services, and strengthen consumer protection and cybersecurity.
The pact renews the institutions' commitment to cooperation, building on initiatives launched in 2025. These included the formation of a joint committee to integrate mobile money platforms with commercial banks, as well as the launch of the NCA's five-year strategic plan to strengthen regulatory capacity for fintech innovation.
ITWeb Africa previously reported that South Sudan was seeking to accelerate digital payments and economic transformation initiatives, with the central bank and Ministry of Finance engaging telecommunications companies and mobile money operators to integrate the National Payment System and expand financial inclusion nationwide.
“As the country's central bank, our responsibility goes beyond monetary policy and the regulation of financial institutions. We must also safeguard the integrity, security, and resilience of the financial infrastructure upon which our economy increasingly depends,” said Othow.
Mathiang said the agreement would provide a basis for closer cooperation to secure digital financial services.
“The NCA looks forward to working closely with BoSS to translate this agreement into practical results that benefit our people. Together, we can strengthen the security of digital financial services and build greater public trust,” he said.
Share
