JUBA – South Sudan’s central bank governor has warned that growing cybersecurity threats could undermine the security of financial institutions, mobile money services and electronic transactions as the country expands its digital financial infrastructure.
Bank of South Sudan (BoSS) Governor Dr. Addis Ababa Othow said on Thursday that stronger cybersecurity measures are necessary to protect financial systems, maintain public confidence and prevent disruptions as more people turn to digital payment services.
Othow made the remarks during the signing of a Memorandum of Understanding (MoU) between the Bank of South Sudan and the National Communication Authority (NCA) to strengthen cooperation on cybersecurity, information sharing and digital financial services.
He said cybersecurity was no longer merely an information and communication technology concern but has become a critical issue involving financial stability, institutional governance and national security.
“As we continue to modernize our banking infrastructure to strengthen digital payment systems, promote electronic transactions, and expand financial inclusion, we must equally strengthen the security and resilience of the technologies and environment that support this development,” Othow said.
He warned that attacks on communication networks and information systems could have far-reaching consequences for financial institutions, payment systems and government operations.
The governor said the central bank’s responsibility extended beyond monetary policy and financial regulation to protecting the integrity, security and resilience of the country’s financial infrastructure.
He said the partnership with the NCA would improve coordination between the two institutions, facilitate information sharing and strengthen their ability to respond to emerging cybersecurity threats.
The agreement provides a framework for cooperation in cybersecurity, information technology, information sharing and business continuity, according to Othow.
Meanwhile, NCA Director General Gieth Kon Mathiang said the partnership would help make digital financial services safer and more reliable for South Sudanese.
He said mobile money services have become increasingly important in allowing people to conduct business, receive payments and access financial services without travelling long distances.
Mathiang said the NCA began working with the International Telecommunication Union (ITU) in 2024 on digital financial services security, focusing on strengthening technical capacity to identify cybersecurity risks and help service providers address them.
He said NCA officers have undergone security training, conducted practical testing of mobile financial applications and participated in developing security guidelines.
However, Mathiang said further investment was needed, including the establishment of a dedicated cybersecurity laboratory and the provision of technical equipment to sustain the authority’s work.
He also called for greater public awareness of digital financial security, urging users to protect their accounts, recognize fraud attempts and report suspicious activities.
Mathiang said the NCA would work with the central bank to translate the agreement into practical measures to improve the security of digital financial services and strengthen public confidence.
In recent years, South Sudan’s digital financial services sector has expanded through mobile money platforms and electronic payment systems, which have provided alternatives to cash transactions where access to conventional banking services remains limited, particularly outside major towns.
Mobile money has also become one of the means of transaction and enabled individuals and businesses to send and receive payments, transfer funds and conduct transactions using mobile phones.
However, the growing usage of such services also exposes users and financial institutions to risks such as online fraud, identity theft, unauthorized account access and other cybersecurity threats.
