Kush Bank announced on Thursday that it will no longer be charging fee on deposits and withdrawals in all of it’s branches in the country.
“As a national bank in South Sudan, where the rate of financial inclusion is amongst the lowest on earth, we have an obligation to break down barriers to financial inclusion, to support the development of a sustainable SME sector, and to help our country diversify and develop a strong, ethical, and transparent financial sector,” said Acting CEO Ryan O’Grady in a statement issued in Juba.
It disclosed that the decision that will see individual and SME customers depositing and withdrawing their money in any currency without being charged fees takes effect on November 25, 2022.
“We live and work in a country where operating a bank is very expensive; this is a fact of offering services in the newest nation on earth, where infrastructure is still developing,” said O’Grady.
He said that during the recent national oil and power conference held in Juba, he spoke about the need to break down barriers for women and youth-led businesses.
“We’ve spent the last six months developing this solution. At Kush Bank, we aren’t talking about solutions; we are walking the walk and implementing them rapidly to respond to the needs of our country. We invite the people of South Sudan to join us in strengthening our economy and building a safe and transparent financial system together,” said O’Grady.
Earlier this year, Kush Bank embraced a digital footprint, launching a mobile app and Internet Banking, and the bank further strengthened its footing by announcing a major branch expansion in key markets, the bolstering of services through a capital raising division, and an investment and advisory team based in Dubai.
“As the needs of South Sudan continue to mature and grow, Kush Bank will grow with them as a trusted partner to the community it serves,” it said.
