Home | News    Thursday 9 July 2015

South Sudan government to introduce coins on Independence Day

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July 8, 2015 (JUBA) - New coins of the South Sudanese Pound (SSP) will be circulating in the economy, starting on 9 July as the country mark its 4th independence day with some parts of the country in crisis.

This is according to the specialized committee of economy, finance and development in the South Sudan’s national parliament.

The chairperson of the committee, Gach Makuach, told Sudan Tribune that the coins will be in the denominations of 5, 20 and 50 piastres. MP Makuach said the country now needed to produce things locally such that the local produce will be bought with coins other than using one pound upwards.

He said the public should remain calm despite the rising inflation in the country, saying this will be corrected in time.

“Secondly, the public may say that why are you producing this one at this time while the inflation is so high and the rates are so high. Yes, there will be a time where this inflation will come down,” Makuach said.

The coin is made of the head of the sitting president Salva Kiir hence drawing mixed reactions in the streets before its circulation, with many questioning why the head of Kiir in the coins.

Abraham Deng said producing the coin with the sitting president’s head will clearly show that Kiir is a true dictator that all the rest will follow once they take over from him in the future in a country where leaders are ambitious to steal history.

Deng added that, producing the coin with the head of the “former hero Garang” was recommendable other than making it in president Kiir’s picture “despite the great evils he has caused [to] the economy of South Sudan.”

This is the first effort by South Sudan to make one pound divisible since independence in 2011.

Speaking to journalists on Tuesday, the governor of the Bank of South Sudan, Kornelio Koryom, said that the move came because small denomination paper notes had proven unpopular.

“Many people did not want it. They said it cannot buy anything, you need to accumulate a lot of it so that you can be able to buy something,” said Koryom.

Last year, the bank introduced the smaller amount notes of 5, 10, and 25 piastre, to enable citizens buy items less than a pound.

“They are created for those who will buy needles, those who will buy shirt buttons, those who will buy tobacco and so many other things,” he added.

Governor Koryom said the smaller coins will continue to help people buy essential commodities of all prices. He confirmed that the launch of the new coins will be witnessed on 9 July as the country marks it 4th independence day at John Garang’s ground in Juba and across the country.

(ST)

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  • 9 July 2015 13:22, by Eastern

    Minting more coins won’t prop up the ailing economy; it will just introduce more money in circulation with no purchasing power at all. Soon the local currency will trade at SSP20 to a dollar. Those coins with Kiir’s head look very nauseating!!!! Better introduce batter trade.

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    • 9 July 2015 16:15, by Ahmed Chol

      Coins are worth introducing when small notes such as 1 pound, 2 pounds, 5 pounds can buy a things that are more than its value, Then it is meaningful to break up the one 1 pound note into coins. Now, pound can’t afford you anything in Juba. "the bank introduced the smaller amount notes of 5, 10, and 25 piastre, to enable citizens buy items less than a pound." This is false! Shape economy first .

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      • 9 July 2015 16:20, by Ahmed Chol

        shaping the economy will require stopping the war first. After that things will become cheap in the market because people will begin to plant and grow crops. Coins will then be used to buy bottles of water or cans of soda like in many countries around the world where coins are used.

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  • 9 July 2015 17:53, by Hardlinner

    Cmon’ kiir. You have prove yourself a villager. I have never seen advanced countries putting the head of current president on coin or note. Putting garang head was find because he is no longer with us. Please a heads of liberation soldiers will be ideal. Indeed we have iconic places, birds and animals that can look better than you mr kiir.

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  • 10 July 2015 08:45, by hamil

    And why is Kiir’s head on those coins instead of Garang’s? Next time when an illiterate person like Paul Malong forces his way to power, he would also introduce coins with his head. For your head to appear on a coin or any currency note, you must have made an outstanding achievement look at the US Dollar notes and Kenyan currency they have heads of leaders who have done greater things.

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    • 10 July 2015 08:54, by hamil

      And this cow boy who is haunted by the innocent lives of defenseless South Sudanese introduces coins with his head. The reason why the president’s tribe is hated across the whole world is because of naivety. This is not an abuse to all Dinkas I know there are decent ones out there but the truth must be said some of your elements have made the world brand you "The worst people to ever exist"

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  • 10 July 2015 08:51, by Majongdulthii Anyang-majongduldit

    if head of seating president is in the coin then there will be different as note have head of founding father this thing need to be revised

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