(JUBA) – A new nine million US Dollar project aims to link South Sudan’s financial markets with eight other countries, making it easier to move money, invest across borders and grow businesses. The grant, approved by the African Development Fund, will help modernise payment systems and expand access to finance in a region where cash remains dominant and long term investment is scarce.
The money will fund the East Africa and Horn of Africa Capital Markets and Payment Systems Integration Project. It will be run by the East African Community Secretariat. Nine nations are included: South Sudan, Burundi, the Democratic Republic of Congo, Ethiopia, Kenya, Rwanda, Somalia, Tanzania and Uganda.
The project focuses on building stronger capital markets and upgrading payment infrastructure. It also aims to improve the rules and institutions that govern finance in each country.
A core goal is to bring more women and young people into formal financial markets by creating new opportunities for investment and accessible financial services. In South Sudan, where most trade happens outside formal systems, the initiative could help small traders and businesses reach regional customers more easily.
The programme supports the East African Community Cross-Border Masterplan 2025 to 2030 and advances the African Continental Free Trade Area by strengthening the financial pipes that carry trade and investment across borders.
East African Community Secretary General Stephen Patrick Mbundi said the movement of capital is becoming just as important as the movement of goods and services for economic growth. He noted the project will help gather investment, deepen financial markets and open opportunities for businesses and communities.
African Development Bank Group Director for Financial Sector Development Ahmed Attout said connected financial markets are central to Africa’s economic change.
He said the grant shows the Bank’s aim to support regional integration through practical investments that build financial infrastructure, improve regulation, gather domestic capital and create stronger economic resilience.
The grant amounts to roughly 51.3 billion South Sudanese Pounds at the current market rate of 5,700 SSP to one US Dollar.