By Ambassador Uzo Owunne

In just two years, South Sudan has appointed and replaced three Central Bank Governors — a deeply troubling pattern that underscores the fragility of its economic governance and the intrusion of politics into technocratic institutions.

Governor Timeline:

• Johnny Ohisa Damian: August 2022 – October 2023 | Briefly reinstated in December 2024

• James Alic Garang: October 2023 – December 2024 (an IMF-trained economist)

• Dr. Addis Ababa Othow: Appointed June 2025 – Present (former Deputy Governor)

What’s Going On?

• Johnny was ousted, reinstated, and replaced again — all within 18 months.

• Garang, despite his international credibility and reformist outlook, exited suddenly.

• Dr. Othow now leads in a time of acute cash shortages, rising inflation, and economic uncertainty.

Why This Matters — Key Implications:

Monetary Instability

Rapid leadership changes create gaps in policy continuity. This erodes effective inflation control, currency stability, and strategic direction.

Investor Uncertainty

Unpredictable leadership undermines confidence. No serious investor can commit capital in an environment where institutional decisions are volatile.

Political Interference

These abrupt sackings suggest a troubling trend: politics overriding merit and independence. That’s a serious credibility risk — for citizens and international stakeholders alike.

Escalating Economic Risk

Poor policy continuity leads to rising inflation, exchange rate instability, and deteriorating living standards. Citizens bear the brunt of these failures.

The Bottom Line

South Sudan’s Central Bank has become a revolving door — and the economy is paying the price. If leaders are serious about rebuilding trust and securing recovery, they must:

• Depoliticise critical economic institutions

• Strengthen policy and leadership continuity

• Place competence and merit above political interest

This is not just about appointments — it’s about systems.

Because ultimately: Governance is about building institutions that outlast individuals.

Stability matters.

Credibility matters.

Governance matters.

Let’s keep the conversation going. Africa’s economies deserve more than revolving doors — they deserve rooted institutions and bold, independent leadership