The latest innovative product by Equity Bank offers real-time, secure payments, reduces the risks and costs of handling cash, and improves access and convenience for customers.

By Aguok Chok

South Sudan banking sector is braced for a great promising digital finance future following the launch of a disruptive product, ‘Pay with Equity’, a digital payment service aimed at transforming the economy from cash-based to cashless. The launch, held in Juba on Friday, May 30, brought together key leaders from the Bank of South Sudan and Equity Bank, who shared a unified vision of financial inclusion, digital innovation, and national development.

Dr. Addis Ababa Othow, then First Deputy Governor (and now Governor) of the Bank of South Sudan (BoSS), described the launch as a strategic milestone in the country’s journey towards building a modern, digital financial ecosystem.

“This is the right time for us to move away from cash,” said Dr. Addis. He pointed out that nearly 80% of transactions currently occur outside the formal banking system, underscoring the urgent need to embrace digital platforms. The First Deputy Governor emphasized that ‘Pay with Equity’ solution enables  real-time, secure payments, minimizes the risks and costs associated with cash handling, and enhances access and convenience for customers

Dr. Addis also reaffirmed the Bank of South Sudan’s commitment to supporting this transition through effective regulation. “We will continue to develop policies, mobile money guidelines, agency banking frameworks, and promote cybersecurity and AML/CFT standards,” he affirmed. He further emphasized the importance of reaching marginalized groups, saying, “ there must be a strong emphasis on financial inclusion, including youth, women, internally displaced persons (IDPs), and returnees.”

He urged all stakeholders including commercial banks, telcos, fintech, and government agencies to collaborate in scaling the solution. Businesses like supermarkets, restaurants, and boda Bodas were encouraged to adopt the system. “Citizens should trust the process and embrace digital platforms,” he urged, appealing to banks to integrate with mobile operators for interoperability.

James Kiarie, Acting Managing Director of Equity Bank South Sudan, echoed this vision of inclusion and innovation. “Banking is no longer a place you go. It is a lifestyle,” he said. He emphasized that ‘Pay with Equity’ was built based on customer needs. “Our customers told us they don’t want to carry cash,” Kiarie said, noting that the platform allows cashless, real-time payments directly into merchant accounts, reducing the need for intermediaries.

He added that the solution targets both large businesses and informal sectors like tuk tuks, saloons, hotels, and market vendors. He praised the teams behind the successful rollout: “Our appreciation goes to the tech, operations, marketing, and partner teams for this implementation.”

Anthony Nderitu, Head of Payments at Equity Bank, celebrated the platform as a revolutionary step. “We forget wallets, but we don’t forget phones,” he said. “The bank is now in your phone.” He emphasized that the platform offers instant, free transactions for everyone from the smallest vendor to major enterprises.

“Let’s redefine how South Sudan transacts:   simple, secure, and convenient,” he urged, calling on users to become ambassadors of the platform.

The launch of ‘Pay with Equity’ marks a defining moment in South Sudan’s digital transformation. As the speakers affirmed, success depends on trust, adoption, and collaboration across all sectors.