National Bank of Egypt opens first branch in South Sudan

National Bank of Egypt opens first branch in South Sudan

The National Bank of Egypt (NBE) has inaugurated its first branch in Juba, South Sudan. The bank was launched under the name of the National Bank of Egypt Juba after the bank obtained the permission of the Central Bank of Egypt and the Central Bank of South Sudan.

Vice President of the Republic of South Sudan and Chair of the Ministerial Economic Cluster James Wani Igga stressed the depth of the Egyptian-South Sudanese strategic relations, which he described as historical relations. He indicated that the first session of the Higher Joint Committee held in Cairo in July 2021, resulted in many memoranda of understanding across various fields, including electricity, water, agriculture, higher education and other fields.

The South Sudanese Vice President welcomed the holding of the second round of the committee in the capital, Juba, during the current year.

He also stressed that the opening of the National Bank of Egypt Juba is the culmination of those distinguished relations between the two countries. Igga added that the new bank with its distinguished capabilities will represent a new impetus for banking work in the Republic of South Sudan, hoping that it will contribute to advancing development and investment efforts during the next stage.

Moses Makur