South Sudan’s Economic Cluster has lifted restrictions on cash withdrawals from commercial banks, reversing a policy introduced in 2024 that capped withdrawals at 10 million South Sudanese pounds (SSP), as part of efforts to improve access to deposits and restore confidence in the banking sector.
The decision was reached during a meeting of the Economic Cluster chaired by Vice President James Wani Igga on Thursday, following a review of proposals presented by the finance ministry.
The withdrawal limit was introduced by the Bank of South Sudan in September 2024 and applied to public institutions, government agencies, companies and individuals. Customers seeking to withdraw more than 10 million SSP were required to use bank transfers, interbank transactions or other electronic payment channels instead of cash.
Speaking after the meeting, Economic Cluster spokesperson Lily Albino Akol said members agreed that restrictions preventing customers from accessing their money should be removed immediately.
“The cluster resolved to lift the restrictions on cash withdrawals imposed by commercial banks without further delay,” Akol told journalists.
Akol, a deputy minister of agriculture, said the Economic Cluster had instructed the Bank of South Sudan and the Ministry of Finance and Planning to urgently engage commercial banks and other relevant institutions to develop clear implementation measures for the decision.
“The objective is to ensure that individuals can withdraw their funds without the limitations currently imposed by commercial banks,” she said.
Akol added that the Economic Cluster also resolved to reinforce implementation of previous government decisions on non-statutory tax exemptions approved by both the Cluster and the Council of Ministers.
The Economic Cluster said the measures are part of broader efforts to restore economic stability, strengthen public confidence in the banking sector and improve implementation of fiscal policies.
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