Njuguna Ndung'u: Launch of the first and new currency of the Republic
of South Sudan
Address by Prof Njuguna Ndung'u, Governor of the Central Bank of Kenya, at the Launch of
the first and new currency of the Republic of South Sudan, Juba, South Sudan, 18 July 2011.
* * *
Your Excellency, Salva Kiir, President of the Republic of South Sudan;
Honourable Minister of Finance of the Republic of South Sudan (ROSS);
All Honourable Ministers of the ROSS;
Honourable the Governor of the Bank of South Sudan (BOSS);
All invited guests;
Ladies and gentlemen,
It gives me great pleasure, honour and privilege to be part of this historic ceremony of
launching the first Currency for the newly born Republic of South Sudan. Indeed I wish to
congratulate the Republic of South Sudan for being able to introduce new Currency hardly
ten days after the Country's Independence Day. This is by all standards no mean
achievement.
I watched with great delight the recent celebrations that marked the birth of the Republic of
South Sudan and consider it a great honour to have been invited to this equally important
milestone event in the history of this new nation.
This event is extremely important for the Central Bank of Kenya as it signifies the strong
relationship that the South Sudan has had with the Central Bank of Kenya over the years.
The Central Bank of Kenya hosted his Excellency the Governor of Bank of South Sudan
some years back. This paved the way for the continued friendship the two institutions have
enjoyed to date.
Ladies and Gentlemen, I am also glad to note that recent consultations have identified
additional areas in which technical assistance can be offered to the Bank of South Sudan by
the Central Bank of Kenya.
Your Excellency Mr. President, we recognize the enormous but not insurmountable task that
the Bank of South Sudan has in transforming itself from a Branch to a fully fledged Central
Bank and assure you of the Central Bank of Kenya's commitment and support in this
transformation process.
Coming to the wider network of the Eastern African region, Leap frog with ease for Bank of
South Sudan:
1. Payment Systems
2. Currency convertibility
3. Facilitate trade with the rest of the East African Community Region.
With these few remarks, I wish to once again congratulate the Republic of South Sudan and
the Bank of South Sudan for launching its new Currency.
Thank you and God bless.