South Sudan: Juba restricts cash movements amid hoarding fears

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South Sudan has banned the transportation of large sums of cash in a bid to curb illicit financial flows, money laundering and currency hoarding.

The Bank of South Sudan (BoSS) announced that businesses and individuals may no longer carry or handle large amounts of local or foreign currency outside licensed financial institutions. All cash transfers must now be documented, declared and reported to the central bank.“The transport or movement of large sums of South Sudanese Pounds (SSP) or foreign currencies must be conducted exclusively through licensed financial institutions and their authorised agents,” the bank said in a circular dated September 16, 2025.

Majok Kuol Mading, BoSS Director-General of Banking Supervision and Financial Stability, warned that “any undeclared or unauthorised movement of cash shall constitute a violation of the law and will attract penalties, including confiscation and legal action.”He said the directive will be “rigorously” enforced in collaboration with law enforcement, customs and border authorities “to safeguard the integrity of the financial system and combat money laundering, illicit financing, and currency hoarding”.

Businesses are only permitted to move cash for deposit into licensed commercial banks. Movements of hard currency and SSP within the country must be approved by the financial markets and banking operations departments, with reports submitted to the central bank’s Directorate of Currency and Banking Operations within 24 hours.

The central bank also reiterated that cross-border movement of cash is tightly regulated, requiring prior written authorisation.

The directive comes amid political instability and renewed tensions between President Salva Kiir and First Vice President Riek Machar, who is facing treason charges. Businesses have reportedly begun hoarding cash in anticipation of unrest.

The new restrictions mark a tougher stance as the country struggles to stabilise its financial system and restore credibility among investors.