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Groundbreaking Ceremony For The Bank of South Sudan Branch Raises Economic Prospects For Warrap State

Several Kuajok town residents in Warrap State are hoping for economic dividends, following the recent groundbreaking ceremony laying the foundation stone for the construction of the branch of the Bank of South Sudan.

Most of the population in Kuajok town, has been over the past years travelling to neighboring Wau town in Western Bahr El Ghazal State to access financial services, but with the soon to be constructed branch of the Bank of South Sudan, business and economic prospects in the State appear bright.

Dr. James Alic Garang, the Governor of the Bank of South Sudan in an encouraging message to the locals at a groundbreaking ceremony, held on Friday last week adjacent to Mayen Gumel primary school in Kuajok town, raised hopes of social economic transformation for the population with the opening of the central bank branch.

“For the first time in the history of the State, we from the Bank of South Sudan have come to Warrap State and in Kuajok in particular to lay a foundation stone, which is going to allow us as the bank to build a branch that will in the future allow us again to provide financial services,” said Alic.

He noted that the soon to be opened branch of the Bank of South Sudan, demonstrates the apex bank’s vision to expand financial services across the 10 States.

“For the last two years, our coming to Warrap State has been discussed and debated and today finally we have come to lay the foundation stone, and for this I would like to greatly appreciate the State government and the community (Mayen Gumel) for the land that has been allocated  to the Bank of South Sudan,” said Alic.

James Alic Garang, speaks to the local residents of Kuajok town on Friday.

Alic noted that the groundbreaking ceremony for the construction of the central bank branch signifies the commitment of the central bank’s leadership toward the development of the banking sector, and the efforts to diversify the economy of the country.

He urged the people of Kuajok to take ownership of the project, and he also particularly thanked the community of Mayen Gumel for their wise decision to provide land where the central bank branch will be stationed.

Alic reassured the people of Kuajok and the entire Warrap State of President Salva Kiir Mayardit’s message of stimulating local production to enhance economic competitiveness and resilience.

 “I would also like to underscore two pieces of information that are coming from His Excellency the President, all of us are called upon to embrace and support and invest in social harmony because that is key for the development of South Sudan, the second is a call for all of us to embrace and invest in local production like those of you who understand some theoretic underpinnings would understand, that an economy does not just operate in a vacuum, it depends very much on production, when people do not produce they really have less to eat and sell abroad, and less to sell abroad means that you don’t have enough foreign currency that you can then use to demand products that you need from other countries,” he disclosed.

Alic further explained that local production is very important and integral to the economic stability of the country.

James Alic Garang (Center) flanked by the Deputy Governor of Warrap State Aluel Garang Grang (Right) inspect the site for the construction of the branch of the Central Bank on Friday in Kuajok town.

Deputy Governor of Warrap State, Aluel Garang Garang while reading a speech on behalf of the Governor of Warrap State, Kuol Muor Muor thanked James Alic Garang for his commitment to open for the first time the branch of the Bank of South Sudan in Warrap State.

“The people of Warrap State have been for years moving from here to Wau for bank services, now the State government is requesting your leadership to rent at any location for a while in Kuajok to provide temporary services, and for timely assistance to our women and youth as they gain jobs and opportunities,” Mour said.

Mour requested the Governor of the Bank of South Sudan to inform the national government on the plight thousands of returnees who arrived in the State from war- torn Sudan.

He noted that these returnees are in urgent need of services like safe drinking water, health services, education, roads and business skills to help their smooth reintegration in society.

Nyiel Gordon Kuol, the Second Deputy Governor of the Bank of South Sudan, encouraged the people of Warrap State to take advantage of the soon to be constructed central bank branch by engaging in productive business activities.

 “We chose this place because it is not a place for lazy people, I have seen as I was coming here huge development activities that have started in Warrap State, and in Kuajok in particular and Mayen Gumel, it shows us that these people are dedicated to hard work and that’s why their towns and villages are growing very fast, let me tell you that we banks don’t go to places where people don’t work,” said Gordon.

She noted that the initiative of the Bank of South Sudan to open branches across the country is a brain child of the current Governor James Alic Garang

Acuil Malith Bangol, a member of the Board of Directors at the Bank of South Sudan, asked population of Warrap State to put an end to old practices of keeping cash in their houses, and instead start storing their savings with commercial banks.

“The bank just like a cattle camp is not a mere storage facility, the central bank branch besides selling, buying or currency exchange will promote employment and investment opportunities,” said Malith.

Charles Majak Aleer, a member of the Transitional National Legislative Assembly (TNLA) said the central bank branch will help attract investments into Warrap State and across the entire country.  He noted that the establishment of the central bank branch will push various commercial banks to open branches in Warrap State, thus providing vital financial services such as loans and other valuable services to the people of the State

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