The President of the republic of South Sudan Salva Kiir Mayardit last week at the opening CFC-Stanbic commercials Bank has urged the commercial banks to lay foundations in South Sudan and look forward to the employment opportunities for local young people in the banking sector.
“We encourage banks wherever possible to hire multilingual staff and people who speak the language of South Sudanese. While I realize it is often more convenient for businesses to transfer existing staff, I would encourage all business coming to South Sudan to play their role in developing our nation by employing our citizens” Kiir was quoted.
“When you employ the South Sudanese, you are directly contributing to development and economy in a very practical way. We might also encourage CFC Stanbic and other to secure their brands and their reputations by taking time to educate, inform and involve the public in the Banking sector” Kiir continued.
He said that banks hold special position of trust in society. He encouraged them to lead example to treat all customers with equal dignity whether the elder depositing a hundred pounds or a businessperson deposit a hundred thousand.
He said that the government is looking forward to the expansion of commercial Banks across South Sudan and the opening of branches in all the ten states.
“I am please to commemorate the opening of the first branch of the CFC Stanbic Bank in South Sudan. The opening of this Bank reflects the optimism of the private sector in our country’s future economy. As a member of the standard Bank group CFC brings more than a century of experience to South Sudan and this experience will benefit businesses and individuals of the young nation” the President said at the opening ceremony.
The president said that the opening of the Bank has special significance. “Banks mean business, business means jobs and more opportunities for the people to support themselves and their families and these businesses also pay taxes and this revenue contribute to society through the greater welfare of our people in the form of school, clinics, roads and services” the President expressed.
“I want to recognize that over time commercial Banks will play a central role in building an economy that relies less on oil and more on the enterprise and creativity of our people, through sensible investment” The President Kiir inserted.
Kiir said that the banking sector will help to grow the number of small businesses that are vital to support a developing economy, through provision of loans.
“Bank such as CFC- Stanbic does not just serve businesses, but they provide vital services to our people. The arrival of a new bank increase competition further benefiting people through provision of more choices to serve their needs and greater ways to access financial services” Kiir added.