The Governor of the Central Bank in South Sudan, Johnny Ohisa Damian has just been sacked.
The President of South Sudan Salva Kiir Mayardit, has just applied his presidential decree in relieving the Central Bank Governor, Johnny Ohisa Damian, of his duties.
The Juba Head of State has on the other hand, promptly appointed Dr. Addis Ababa Othow to serve as the new South Sudan’s Central Bank Governor, replacing Ohisa.
The appointment came shortly after Addis Othow was also removed from his previous position as First Deputy Governor, as part of broader changes in the monetary institution’s top leadership amid economic challenges facing the already troubled South Sudan.
The new South Sudan’s Central Bank governor is touted to bring onboard extensive experience in the banking sector.
That is after having held various high-ranking financial positions in the East African country, thus placing him at the forefront of managing monetary policy and currency stability under difficult economic conditions.
The reshuffle in the Banking sector also included the reappointment of Samuel Yanga Mikaya as First Deputy Governor, a position he had previously held before his removal.
No clear explanations have so far been officially provided to explain the changes, though they appear to align with Juba’s efforts to enhance the banking sector’s performance and address economic challenges, including inflation and exchange rate fluctuations.
South Sudan essentially faces severe financial pressures due to the depreciation of the nation’s local currency and heavy reliance on oil revenues, increasing the urgency for financial and banking reforms.