This thread is dedicated for Business, Economy and other related news.

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This thread is dedicated for Business, Economy and other related news.

This probably belongs here...

NTV-uganda: Tarmacing of Gulu-Nimule Road that will connect South Sudan to northern Uganda. :cheers:

bh48-vACaak

It will cut travel times from Juba to nimule from 8 hrs to just 2.5 :cheers:

Dr. John Yoh, Head of Mission for the government of South Sudan in South Africa.

ovIiUVrOKF8

:cheers:

Switzerland supports South Sudan in setting up a Central Bank

As a soon-to-be sovereign State, South Sudan must begin building institutions in the domain of financial policy and acquire the necessary know-how. Switzerland supports this goal and has already transmitted technical expertise in the areas of “State assets and national debt” and “banking activities and currency issues”. This week, the Swiss National Bank (SNB) and the Federal Department of Foreign Affairs (FDFA) once again conducted a workshop for South Sudanese specialists and high-ranking government representatives.

A workshop took place in Zurich from 15 to 17 February 2011 attended by 14 South Sudanese decision-makers in the domain of banking and finance. The participants also included Minister of Culture Gabriel Changson Chang, Head of the South Sudan negotiating team on “Banking and Currency”, Minister for Financial and Economic Planning David Deng Athorbei, as well as Minister for Human Resource Development Mary Jervas Yak. The training and discussion seminar was the result of a request made to Switzerland by the South Sudan Government for the transmission of the knowledge along with the technical and legal advice necessary for establishing a Central Bank.

Specialists from the Swiss National Bank (SNB) and the FDFA’s Office of the Special Representative for Sudan and the Horn of Africa worked out approaches to solving a number of problems with the South Sudan delegation. Discussions focused, for instance, on the mandate and the tasks of a future South Sudan Central Bank, the requirements needed to realize the various options proposed and the consequent outcomes, the drafting of a Central Bank law, the independence of a Central Bank, a step-by-step implementation plan, and the possibilities of support from abroad.

The former Governors of the Central Banks of Serbia, Bosnia and Herzegovina, and Montenegro were also present to report on the experience of other countries. In addition, the external participants and guest speakers at the workshop included representatives from the IMF, the World Bank, national fund directorates, and consulting firms. With a view to the creation of their own currency, an integral part of the workshop also consisted in visiting the banknote production plant of the company Orell Füssli AG.

The event fits in with Switzerland’s other efforts in fostering a peaceful resolution to the conflict in Sudan. Since October 2010, Switzerland has been supporting the ongoing negotiations on how to shape the period following January’s referendum on independence. Upon request of the negotiating parties, Switzerland has already made available several expertises. The issues under negotiation include the splitting of state assets, the goods and the debt of the central government in Khartoum, as well as the establishment of a Central Bank and the creation of South Sudan’s own currency. A reliable Central Bank institution and a coordinated currency policy are indispensable for security and lasting peace.

Based on the January 2005 Comprehensive Peace Agreement (CPA) between the central government in Khartoum and Southern Sudan, the South Sudanese population was provided, six years later, with the opportunity to express its desire for secession from the North in a referendum. According to plan, the long-awaited secession referendum took place between 9 and 15 January 2011. An overwhelming majority of 98.83% of the approx. 3.8 million voters spoke out in favour of separation from the north. South Sudan still has a number of substantial tasks to be accomplished before its independence becomes definitive. At present, the major challenge is represented by the Post-Referendum negotiations with the North which are meant to determine how the two countries are to live and work together side by side in the future.
Link (http://www.isria.com/pages/18_February_2011_126.php)

Private sector development program launched

South Sudan, Donor and IFC Partnership Supports Development of Vibrant Private Sector

01/03/2011 02:13 (03:03 minutes ago)

The FINANCIAL -- The government of South Sudan, with the support of donors, IFC and the World Bank Group, on Februaruy 28 launched an important partnership program that will support the development of the country’s private sector.

South Sudan is counting on a viable private sector to contribute to its reconstruction and development as a newly independent state.

According to IFC, the partnership will receive its primary funding from the governments of the Netherlands and South Sudan. It also receives funding from Denmark, Ireland, Norway and USAID. The project has received donor commitments of approximately $9 million to date.

The program will be managed by IFC, a member of the World Bank Group, together with various South Sudan government ministries and private sector entities. It will focus on implementing three program components:

The second phase of an investment climate reform project, of which attracting new investments will be one part;
Small and medium size enterprise development project, primarily through training and capacity building, and;
Access to finance project that explores new financial instruments such as leasing and mobile banking.

“This is a new dawn in South Sudan and we are eager to help establish a viable private sector to spearhead economic growth, with special attention to agriculture,” said Nobert Braakhuis, Embassy of the Kingdom of the Netherlands Ambassador to Sudan. “The people of South Sudan, through their new government, can count on our ongoing support contributing to broad-based social and economic prosperity as a means to continued peace and stability.”

Following the results of a January, 2011 referendum, South Sudan will officially become an independent state on July 9, 2011. Although it remains one of the least developed countries in the world, South Sudan is showing signs of progress.

To date, more than 10,000 businesses have been registered. Five new mobile phone providers have been registered and are operating, with at least 5 million accounts; at least seven commercial banks have been established, including five microfinance institutions, serving more than 10,000 families across South Sudan; at least five regional commercial airlines serve Juba alone, and another five cargo airlines have made it easier to transport goods to the region.

"South Sudan has the potential to be a new land of opportunity in Africa," said Rachel Kyte, IFC Vice President for Business Advisory Services. "The people of South Sudan can count on the World Bank Group's full support in establishing a strong foundation that will support people in their businesses, stimulate investments, and help create jobs and economic opportunity. This will create a prosperous and sustainable future for the people of South Sudan that will demand the best of all its partners."

IFC Advisory Services in Africa provide a range of solutions to support private sector development across the continent. Improving the region’s investment climate is one of IFC’s top strategic priorities in Africa and IFC contributes strongly to the Investment Climate Advisory Services of the World Bank Group, along with other World Bank Group member institutions IBRD and MIGA.

Investment Climate Advisory Services of the World Bank Group has already been working in Southern Sudan for four years. In that time it supported the government to establish:

A legal and regulatory framework for investment;

Another six laws to support business entry, operations and exit;

Key institutions to support investments, and;A stronger business registry with a streamlined registration process.

The new program will build on the World Bank Group’s advisory work to date and IFC’s experience in other conflict affected states through the CASA program to bring innovative solutions. The new program will draw on IFC Advisory Services in other areas, including access to finance, and sustainable business advisory.
Link (http://finchannel.com/Main_News/Business/81974_South_Sudan,_Donor_and_IFC_Partnership_Supports_Development_of_Vibrant_Private_Sector_/)

zPYw1RgzWdU

^^ :cheers::cheers:

South Sudan Courts Foreign Investors

By James Deng Dimo
As South Sudan prepares for its independence on July 9, efforts to cement its diplomatic and trade ties have been enhanced in a bid to elbow reconstruction efforts.

http://img710.imageshack.us/img710/6274/wbgs20governor20rizik20.jpg (http://img710.imageshack.us/i/wbgs20governor20rizik20.jpg/)

The Western Bahr el Ghazal State Governor Rizik Hassan upon arrival from an overseas trip.[©Gurtong]

WAU, 09 February 2011 [Gurtong] – The Western Bahr el Ghazal State Governor Rizik Zakaria Hassan and his Northern Bahr el Ghazal State counterpart Paul Malong Awan yesterday landed back from a tour of Spain and the United Arab Emirates where they signed investment deals.

Speaking to reporters at Wau airstrip upon arrival from Juba, the two governors said their visit was successful, adding that they expect strong bilateral relations with the two countries.

The leaders signed mining and petroleum exploration deals with companies in Madrid and Dubai.

“We are glad that our visit was welcomed by the two countries and we are optimistic that they will invest in South Sudan. Such a venture will create employment opportunities for South Sudanese”, said Hassan.
Gurtong (http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/4836/categoryId/2/South-Sudan-Courts-Foreign-Investors.aspx)

Bank of South Sudan: value of new pound will remain the same

Friday, 25 March 2011 16:36 Economy >>> .The new South Sudan pound will have the same value as the current Sudanese pound according to the President of Southern Sudan Bank, Elijah Malok Aleng.

Aleng told Radio Miraya that the new note is now being printed and will be in use immediately after the announcement of the Republic of South Sudan. He said it will take more than four months to complete the full replacement with the new currency.

The first denominations released into circulation will be the one to 50 pound notes. Coins will be available later. Aleng said the picture of the late Dr. John Garang is the obvious character which is included on one side of one of the new bank notes.
Miraya FM (http://www.mirayafm.org/index.php?option=com_content&view=article&id=5467:boss-value-of-new-s-sudan-pound-will-remain-same&catid=90&Itemid=298)

SABMiller Makes Further Investment In South Sudan
StockMarketWire.com - Brewery group SABMiller plc said its subsidiary Southern Sudan Beverage Ltd is investing an additional $15m to increase production capacity and build on the performance of its local brand portfolio.

SSBL commissioned its brewery in South Sudan in 2009 and invested $37m to build the facility in Juba.

The brewery is currently at full capacity, said the group. By November 2011, the additional investment will have increased brewing capacity to 0.5m hectolitres.

The subsidiary's MD Ian Alsworth-Elvey said, 'Our investment in Southern Sudan continues to bear fruit due to the country's improving economic outlook and a continued positive consumer response to our brand portfolio.

'Increasing our brewing capacity takes the business to the next level, supporting growth in our key mainstream segments and helping us to build market share.' At 10:49am: (LON:SAB) SABMiller share price was -14.75p at 2214.75p
Link (http://www.stockmarketwire.com/display/?id=4123333&sectionId=standardNews)

FMG moves early on South Sudan

By Ben Flanagan

Last Updated: Apr 15, 2011

http://img856.imageshack.us/img856/4470/ad20110415702118mekki20.jpg (http://img856.imageshack.us/i/ad20110415702118mekki20.jpg/)

Mekki Abdulla, the chief executive of FMG.

Fujairah Media Group (FMG) has signed a deal to launch TV and radio stations in a part of South Sudan, which in July will become an independent republic.

FMG, which is part-owned by the Fujairah Government, has signed a deal with Sudan's Central Equatoria state to launch media channels in the area, the company said.

"FMG has undertaken to set up a number of television and radio stations in the state, in addition to co-operating in other key areas," the company said. "The protocol also covers the opening of a trade and services hub in the emirate of Fujairah."

South Sudan voted to separate from the north of the country in a referendum this year after decades of civil war.

The Republic of South Sudan, which will comprise Central Equatoria among other states, will secede in July.

Mekki Abdulla, the chief executive of FMG, was not immediately available for comment.

But another executive with knowledge of the company confirmed to The National the Sudan media deal had been signed.

Last December, Mr Abdulla said FMG planned to roll out a franchise-style TV business across several African nations as part of the group's plan to make up half of its total revenues from Africa by the end of next year.

FMG is a joint venture between the Fujairah Cultural Authority and Arab International Media Services. It operates several TV and radio stations including 92.6 FM Radio and Krazee TV.

The Fujairah Radio Network, which is part of FMG, last year acquired a 50 per cent stake in the European radio station JazzRadio Berlin, in a deal worth a reported €2.5 million (Dh13.22m) for a two-year commitment.

FMG also manages the Fujairah free zone Creative City, from which it derives most of its revenues.

It says it is building studios to develop TV and cinema production in the emirate.
Link (http://www.thenational.ae/featured-content/channel-page/business/middle-article-list/fmg-moves-early-on-south-sudan)

Local hotel group opens new property in Bor, Jonglei State

Posted April 18, 2011 by Wolfgang's East Africa and Indian Ocean Tourism reports

Over the weekend the ‘South Sudan Hotel’ was opened in the town of Bor, Jonglei State, adding facilities for visitors to the state and also spreading the wings of this locally owned hotel group. They already own and operate conventionally built hotels, i.e. not tents or prefabricated container units, in the Southern and Equatoria State capital Juba, but also in other state capitals like Wau, Malakal, Yambio. Additional hotels have been opened too in key trading towns of the Western Bahr-el-Ghazal state.

The hotel in Bor, under construction since last year, was officially opened by the state’s governor Juol Manyang in the presence of the business community, cultural leaders, security officials and senior politicians from state and central government. He welcomed the investment in Bor, inviting more business people to come and create infrastructure in state capitals like Bor but also across the states in key trading posts and smaller towns, where such services like hotels are in growing demand.

Bor will on May 16th host the commemorations of the start of the ‘second’ civil war which started 28 years ago, when regular army units sent in from Khartoum mutinied against their commanders and orders from the regime of how to treat the local population who were opposed to the forced introduction of Sharia Law.
Link (http://wolfganghthome.wordpress.com/2011/04/18/south-sudan-news-update-local-hotel-group-opens-new-property-in-bor-jonglei-state/)

Government of Southern Sudan Improving Business Regulations, Finds IFC-World Bank Report

Juba, Southern Sudan, May 17, 2011—A new report from IFC and the World Bank released today finds that the Government of Southern Sudan is making strides to improve the business environment for small and medium enterprises.

The report, Doing Business in Juba 2011, is the first assessment of business regulations in Southern Sudan’s capital. It helps fill the data gap in the semi-autonomous region, which is expected to become Africa’s newest nation in July. The report cites improvements in eight laws on business registration, operations, and land ownership that have been enacted since the 2005 peace agreement. More than 9,000 businesses have signed up with the government’s business registry since it started in 2006. In addition, commercial banks have been established and basic infrastructure is being rehabilitated.

Starting a business, dealing with construction permits, and registering property are relatively fast in Juba, according to the report. At 15 days, the startup time for a business in Juba is comparable to the average 13.8 days in developed economies of the Organization of Economic Cooperation and Development. However, the cost of starting a business is as much as 250 percent of per-capita income—more than twice the average cost in Sub-Saharan Africa.

“Reforms that cut red tape, clarify property rights, and streamline regulatory compliance can yield big payoffs,” said Mierta Capaul, Lead Private Sector Development Specialist of the World Bank Group. “There is an opportunity for Southern Sudan to build the strong foundation necessary for a vibrant formal private sector.”

The report also identifies key areas for improvement. Juba’s three different legal frameworks cause uncertainty and poor infrastructure and the complexity of administrative processes hamper trade. Access to credit is very limited and the lack of a collateral registry prevents entrepreneurs from using their assets as guarantees for loans.

Doing Business in Juba 2011 examines business regulations from the perspective of small and medium enterprises. It benchmarked nine regulatory areas—starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business. The study was conducted in partnership with the Ministry of Investment at the Government of Southern Sudan and funded by the United States Agency for International Development.

^^ More about Doing Business in Juba 2011 (http://www.doingbusiness.org/reports/subnational-reports/juba)

South Sudan Pound to be released by Monday


JUBA, 12 July 2011 – The South Sudan Pound (SSP), the new currency of the Republic of South Sudan, will be released into the market by Monday 18 July 2011, Mr. Elijah Malok the head of the Central Bank of South Sudan has said.


Addressing the media at the bank’s premises this morning, Mr. Malok also announced that the new currency will exchange 1:1 to the Sudan Pound (SDG) in the meantime but added that the value may change in the coming days based on market factors.


Mr. Malok also reported that negotiations are underway with the Central Bank of Sudan to redeem the old currency from South Sudan which he estimated to be about 1.5 to 2 billion. He said the value at which the old currency will be redeemed is still being negotiated.


He also announced that the international exchange rate of the new currency is still being calculated. Nonetheless, he announced that it will be through a managed float system. He explained that the exchange rate will be determined by market forces in the region and beyond. He announced that the exchange rate will be known within a period of one week.


Mr. Malok also announced that a committee to sensitize the public about the new currency began the mobilization exercise this morning. He said that the bank will establish exchange centres to which citizens will return the old currency in exchange for the new one.


He also said that South Sudan will not ban the old currency. He explained that it may be used for cross-border trade transactions. However, he said that its continued use would depend on whether the Sudan chooses to keep it or not.


The Central Bank leader also displayed the new currency to the media. He announced that there will be six denominations – 1, 5, 10, 25, 50, 100 – but added that lower denominations in the form of coins are still being minted.


Mr. Malok said that the Central Bank of South Sudan Bill is still before the South Sudan Legislative Assembly but expressed confidence that it will be passed in due course. He clarified that even though he signed the new currency as “governor”, he is not yet officially appointed to the new position.


He also said that the bank is not able to state the anticipated inflation levels. He explained, however, that inflation in the region, especially in Uganda and Kenya, will affect the new country in the short-term until it is able to tilt the trade balance in its favour.


The press conference was also attended by H.E. Dr. Barnaba Marial Benjamin, the minister for Information, Government of South Sudan; Mr. Mustafa Biong Majak, the Director General of Information; as well as senior officers of the bank.

:cheers:

^^

http://img225.imageshack.us/img225/3355/currency25ssp.jpg (http://imageshack.us/photo/my-images/225/currency25ssp.jpg/)

South Sudanese 100 pounds with Dr. Garang in it.

http://cdnlive.albawaba.com/sites/default/files/imagecache/article_headline_node//sites/default/files/im/pr_new/South_Sudan_currency.jpg

http://photos-d.ak.fbcdn.net/hphotos-ak-snc6/261455_217973528239273_100000798833537_533572_3994683_s.jpg

9U6d6xutRtA

South Sudan ships first independent oil cargo

(AFP) – 14 hours ago

KHARTOUM — South Sudan has shipped its first independently sold oil cargo from Port Sudan, a former minister said on Tuesday, despite no final agreement with Khartoum on how to manage the country's vital industry.

"We managed to sell all the cargoes for July. Lifting started on Sunday, at Port Sudan," and the first cargo left on Monday, Lual Deng, formerly oil minister in Sudan's government of national unity, told AFP.

Deng, a southerner who left his job in Khartoum and returned to Juba shortly before South Sudan's formal secession on July 9, said the one-million-barrel shipment of Dar Blend was sold to Chinaoil, a trading subsidiary of Chinese state oil giant CNPC, the largest investor in Sudan's oil industry.

"It is a sign of cooperation that the north has allowed the first cargo to lift. I am very relieved about this," said Deng, a senior member of the south's ruling party, although he currently holds no government position.

Just weeks before southern independence, Sudan's President Omar al-Bashir said Khartoum would block the landlocked south's use of its pipeline infrastructure and export terminal if no deal on oil was reached ahead of partition.

Around 80 percent of Sudan's 470,000 barrels per day of oil is currently produced in the south, but the two sides have yet to agree on a new revenue-sharing formula or pipeline transit fees at negotiations in Addis Ababa.

Deng said the talks in the Ethiopian capital would resume "as soon as possible."

Unlike Nile Blend, Sudan's other main crude stream, Dar Blend is entirely produced in the south, but its poorer quality means it trades at a sharp discount to international benchmark prices.

Monday's cargo sold at between $16-20 below Brent North Sea crude, Deng said.

He said the south had independently sold all its production of Dar Blend for July lifting -- some 3.2 million barrels -- and was already selling cargoes for August.

Khartoum would pay the international price for South Sudan's production of Nile Blend, he added.

The World Bank warned last week that the Juba government urgently needed to develop the new nation's agricultural sector to lessen its reliance on oil, which accounts for more than 95 percent of its income.
Link (http://www.google.com/hostednews/afp/article/ALeqM5ijiMuee_ytGP_3IdsLqRM7lSkmHA?docId=CNG.832a4bd5d343e4861527751b5e0d9c50.501)

The pound bills look nice. And congrats on shipping you first oil shipment :cheers:

South Sudan: Nile Petroleum, Glencore form joint venture

July 13, 2011 (JUBA) - South Sudan’s Nile Petroleum Corporation (Nilepet) has, in a bid to boost the oil industry, entered into joint venture with Glencore International; a Swiss-based public company involved in producing, processing, refining and transporting energy products.

The move, according to Mangok Kali Mangok, Nilepet’s managing director seeks to ensure that crude oil entitlements from the company, and the Republic of South Sudan in general, find international markets.

“The joint venture will help the Republic of South Sudan develop its national oil company through skills transfer and training and will be responsible for marketing the crude oil from July 09 onwards,” Mangok said in a statement.

Partnership with Glencore, he added, will enable the former to invest in oil infrastructure in newly independent South Sudan as well as raise international financing that will benefit the new nation.

The development comes nearly five months after South Sudan’s Energy and Mining ministry and Petroliam Nasional Berhad (PETRONAS), a Malaysian-owned oil and gas company signed a two-year memorandum of understanding (MoU) aimed at boosting mutual cooperation between the two parties.

The MoU, signed in Juba, South Sudan’s capital, outlined the overall principles of cooperation in the oil and gas sector between the government and the Malaysian oil giants, creating an avenue for exploiting existing business opportunities.

In addition, the agreement further creates a platform for the two parties to set up frameworks for sharing experience and expertise in the management of petroleum resources through capability building and other training programs.

In January 2008, Petronas, got permission from South Sudan’s government to begin oil exploration in block 5B, after agreeing to let Moldova’s Ascom Group keep part of the concession, an official said.

Bloomberg (http://www.bloomberg.com/news/2011-07-12/south-sudan-s-oil-company-forms-joint-venture-with-glencore-to-sell-oil.html)

^^ Thanks...good times. :cheers:

Israeli companies discover South Sudan

Just days after independence declaration, Israeli businesspeople seeking economic cooperation with world's newest country in fields of security, infrastructure, medicine and agriculture

Just days after South Sudan declared independence, Israeli companies are already storming the world's newest nation – and receiving a warm welcome.

An Israeli businessman has even managed to schedule a meeting with the new trade minister. "I haven't seen such openness anywhere else in the world," he says.

According to Attorney Adi Braunstein, the legal advisor of the Israeli-Arab Friendship Association, Israel's military and moral support to the South Sudan rebels throughout the years is now expressed in economic cooperation.

This cooperation, he says, will lead to deals worth hundreds of millions of dollars, the payment of which will be guaranteed by the international community.

The required fields of cooperation include security, agriculture, medicine and even the capital market, as the South Sudan government is looking to establish a stock exchange in the new country.

The foundation for the ties with South Sudan was laid by former rebel leader John Garang, who was hospitalized in Israel in the past following an eye injury in one of the incidents involving the Sudan army.

Israeli defense experts have already contacted the country's officials in a bid to train police and army officers, and a company from Ramat Hasharon has been asked to put forward a quotation for fortifying the convoy of the new South Sudan president.


Vacation packages in works too

The Solel Boneh Overseas company is looking into paving roads and building infrastructure. The Sarel company, which supplies medication and medical equipment to hospitals, is also examining the new market in order to train a governmental medical system in South Sudan.

Superlock, which specialized in the development, production and marketing of security doors, has given its franchiser in Nigeria permission to open an office in the South Sudan capital of Juba.

Eli Kimchi, CEO of Fujicom Israel, which markets computers and electronic goods, is in negotiations towards opening a sales office in Juba with the aim of creating a series of produces for the residents of South Sudan.

A dairy farm in the Golan Heights has been asked for advice on cattle herds for milk production.

Tourism is also on the agenda: Aharon Efroni, Jewish-Arab institute at Beit Berl College, has begun preparing vacation packages to South Sudan.

Israeli Ambassador to the United Nations Ron Prosor congratulated South Sudan on its independence recently, saying that "the State of Israel and the people of Israel salute your courage and wish you peace and prosperity on your new journey. Israel will stand beside you and extend its hand in cooperation with your new nation."

South Sudan's Vice President Riek Machar said in response that he valued the cooperation with Israel and would work to strengthen ties with the Jewish state in the coming years.
Link (http://www.ynetnews.com/articles/0,7340,L-4097591,00.html)

CBSS shortens currency conversion period

JUBA, 26 July 2011 – The Central Bank of South Sudan (CBSS) has shortened the currency conversion period to one and a half months beginning from the 18th July 2011 and ending on 1st September 2011.

This change of schedule has been necessitated by the launch of a new currency by the Republic of Sudan. The CBSS is asking all the people to comply with the new schedule and cautions that any old currencies which will not have been exchanged by the end of the period will be rendered valueless.

The CBSS is advising the general public to go to the designated centres nearest to them and exchange the currencies. All the commercial banks are exchange centres. The CBSS has asked them to allocate specific counters for this exercise.

Any persons or companies with more than SDG 50,000 in cash have been advised to open bank accounts and deposit the money there. All funds held in bank accounts will be exchanged automatically. The banks have also been advised to report any suspicious deposits and fund movements which may signal money laundering and other crimes to the CBSS. The banks have also been asked to report cases of counterfeit notes as well.

In a memo from the CBSS signed by Mr. Kornelio Koriom Mayik who is the chairperson of the South Sudan Currency Conversion Committee, the commercial banks have been directed not to make any payments in SDG henceforth.

The currency conversion exercise had crippled the services of Automatic Teller Machines (ATM) in the country. This was largely due to the introduction of new denominations which required reprogramming of ATM systems. Similarly, the change in the size of the currency – the SSP is smaller than the SDG – also caused a major challenge. The issues have now been addressed and the ATM services have resumed normally.

^^ That's a good move...:applause:

IMF to advise South Sudan on monetary policy issues


Saturday, 23 July 2011 15:18 Economy >>>

The International Monetary Fund (IMF), is ready to assist the government of South Sudan in strengthening its capacity to deal with currency and moneteray policy management issues, David Hawley, the IMF spokesman said on Friday.

Hawley explained that although South Sudan is not a member it is possible for the IMF to provide technical assistance. South Sudan, applied for the IMF membership in April 2011. An IMF application review process generally takes more than six months and can take more than a year in some cases.
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Link (http://www.radiomiraya.org/index.php?option=com_content&view=article&id=6468:imf-to-advise-rss-on-monetray-policy-issues&catid=90&Itemid=298)

http://http://www.afrikadit.com/images/stories/Juba-Resort-1.jpg
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http://http://www.afrikadit.com/index.php?option=com_content&view=article&id=51&Itemid=56

Key Economic Bills Top Priority for S. Sudan Parliament

By Waakhe Simon Wudu

The President of the Republic, Salva Kiir Mayardit has announced plans to implement crucial laws within the first hundred days of his new government.

JUBA, 08 August 2011 [Gurtong] - Speaking when he officially inaugurated the South Sudan Legislative Assembly at Nyakuron Cultural Centre in Juba yesterday, 8 August 2001, President Kiir said the new laws will guide the new country as it embarks on development.

“In the first 100 days I will make sure that the new government of the Republic of South Sudan passes five essential laws to steer management of our financial and natural resources, including oil,” Kiir said.

“We will send to parliament the Public Financial Management and Accountability Act, the Procurement Act, the Internal Audit Act, the Petroleum Act for regulating the management of oil resources and the Oil Revenue Management Law for sustainable and transparent management of the oil income,” he told the Assembly in its first sitting since the declaration of the independence of South Sudan on 9 July 2011.

President Kiir also disclosed that audits will be undertaken in the three most significant spending government ministries and agencies in the coming three months.

“We will take action on the findings and as I have pointed out before, there will be no loopholes for people who are addicted to mishandling public resources,” he cautioned.

The President urged the lawmakers to process and pass the laws without delay, saying the laws are needed as a “matter of urgency”.

He said his government will not tolerate corruption, saying it greatly affects service delivery.

“The people of South Sudan overwhelmingly voted for independence in the hope for a better life. They therefore have high expectations which we must meet as a government”, said Kiir.
(gurtong)

Currency conversion progressing well

By Matata Safi

JUBA, 11 August 2011 – The ongoing currency conversion in the Republic of South Sudan is progressing well, the governor of the Central Bank of South Sudan (CBSS), Mr. Elijah Malok has said.

Addressing the media at the Ministry of Information headquarters in Juba yesterday, the governor said that the bank is happy with the progress made so far. He expressed confidence that the exercise will be completed successfully within the stipulated period.

The deputy governor of the CBSS, Mr. Kornelio Koriom, who is also the chairperson of the technical committee overseeing the currency conversion exercise, said that members of his team are committed to reaching every corner of the country. “We initially had challenges but we have now reached all the ten states of the Republic of South Sudan; we have moved to counties, payams and even to bomas in some cases”, he said.

Mr. Koriom reported that the work done so far is very encouraging in spite of the fact that it is the rainy season and some areas are inaccessible. He said the committee has had to use helicopters and even boats to reach such remote places.

He also reported that so far about SSP 1 billion has been exchanged. He explained that assuming that the estimation that SDG 1.5 billion was circulating in South Sudan (in practice there may be a variance because of cross border transactions) then the progress is superb.

Mr. Koriom emphasized that it is the duty of everyone to exchange their currency. “Every individual must participate; we cannot afford to be careless about our wealth. Everyone must change whatever they have. No one should pass the buck to anyone else”, he emphasized.

The deputy governor also warned that the SDG will have no value after the conversion window is closed and advised all the people to go and exchange the currency in time before it is too late. “We have created many centres in Juba town and elsewhere for this purpose; no one has an excuse not to exchange their currency”, he explained. He said that the committee is working with all the media to publicize the exercise using all languages so as to reach out to everyone.

The media forum was facilitated by the caretaker minister for Information Hon Dr Barnaba Marial Benjamin. It was also attended by senior officers of the Ministry led by the Acting Undersecretary Mr. Mustafa Biong Majak and Director General for South Sudan Radio and Television Mr. Arop Bagat.

“We have adequate reserves”, CBSS governor

JUBA, 11 August 2011 – The Governor of the Central Bank of South Sudan (CBSS), Mr. Elijah Malok yesterday announced that the country has adequate hard currency reserves to last several more months. Though he did not divulge the amount, he assured the country that the reserve is adequate to support the government and public business.

Mr. Malok explained that the bank holds two categories of reserves. He explained that the first category is for the running of government businesses and its projects while the second category is for the public and is used to pay for goods and services imported into the country. He said both categories of reserves are meant to be used wisely in the public interest.

The governor announced that the CBSS gives commercial banks USD 28-40 million every month through open auctions. He advised members of the public to seek hard currency from the commercial banks and forex bureaus. He also advised business people to use banking systems to transact cross-border money transfers and desist from using physical transactions.

The governor clarified that the CBSS no longer issues currencies preferentially to any forex bureaus. He said the bureaus buy the currency and sell it to the public with a profit margin. He reported that at independence of South Sudan, the exchange rate for the dollar was 2.7. He said that the CBSS had pegged the SSP at 2.9 but reported that the rate has since risen to 3.3 due to increased demand. He expressed hope that the currency will stabilize in due course and gain against the dollar.

Mr. Malok also explained that the bank is independent and stringent in managing public funds. He said that the bank exercises caution and puts in place contingency measures to ensure smooth running of the government so that the country’s economy does not grind to a halt.

He said the bank has not received any oil money since the 30 May 2011. He said the government is operating with the contingency funds the bank had saved. “If we didn’t do this, we would have collapsed before declaring independence”, he said.

Group opens logistics operation in South Sudan

Logistics group DHL opened an operation in Africa’s newest republic, South Sudan, in July, and is providing express delivery and freight services in the country.

The global company says it is providing its full range of services to boost the country’s economy and aid vital infrastructure development in the new republic.

Its DHL Express and DHL Global Forwarding divisions offer road, air and sea logistics services to businesses in the North African country.

“South Sudan has potentially rich natural resources, predominantly agriculture and oil, but also other minerals.

“The road ahead is challenging for the South Sudanese people. DHL’s role is to support the development of local infrastructure, logistics and transport developments so that the country can rebuild its economy and finally participate in the African renaissance happening around it,” says DHL Global Forwarding Africa and South Asia Pacific CEO Amadou Diallo.

DHL sub-Saharan Africa Express MD Charles Brewer adds that the mobilisation of infrastructure investment in the country is a priority.

“The South Sudanese government has declared that it is looking at over $500-billion worth of investment over the next five years, primarily in the form of roads and bridges to transport its crude oil to the international market.

“As the first multinational that specifically went into the African continent with the sole purpose of setting up DHL-owned and operated offices in every single country to support and facilitate trade, the start of our operations in South Sudan is not only market driven, but symbolic of our commitment and the breadth of our Africa network that will go a long way towards supporting the growth and development of the new republic,” he says.

Further, DHL is a long-term investor in African infrastructure and operational equipment, as well as local staff training and development. Further investment to come this year includes facilities to support logistics activities, such as a new warehouse in Juba, as well as the employment of local logistics experts to run its operations in what remains a volatile, but improving operating environment.

Local, regional and multinational companies will also have access to the expertise of DHL Supply Chain, which will share resources and infrastructure with DHL Global Forwarding.

Operating in all 54 African countries, DHL offers end-to-end supply chain solutions, with over 300 000 m2 of warehouse space in sub-Saharan Africa, a fleet of more than 2 000 owned and subcontracted vehicles and 17 aircraft.

Link (http://www.engineeringnews.co.za/article/local-south-sudan-logistics-operation-opened-2011-08-12)

^^ :cheers:

NBS Unveils South Sudan GDP

By Moi Peter Julius ǀ 12.08.2011

JUBA - The Republic of South Sudan’s National Bureau of Statistics (NBS) has released South Sudan Gross Domestic Product (GDP) and the Gross National Income (GNI) yesterday in Juba.

Addressing the press, the director of statistics, David Chan said it was the first official GDP and GNI after independence of South Sudan.

“These statistics are indicators of a country’s economic development. Releasing them is a milestone in the development of a national statistical system in the New Republic,” he said.

The GDP for South Sudan in 2010 was 30 billion Sudanese pounds according to the national bureau of statistics.

He said the GNI in 2010 was significantly lower than the GDP at 19 billion Sudanese pounds and GNI per capita in 2010 was 2,267 SDG.

“South Sudan economy is currently dominated by oil production. The export amounted to 71% of the total GDP in 2010. Other indicators such as poverty rate, education and health outcomes are necessary to portray the level of development,” Chan explained.

He stated that the figures availed will be vital in formulating monetary and fiscal policies by the government.

According to him, South Sudan is the fifth largest economy in East African among her neighbours of Uganda, Kenya, Ethiopia among others.

The director of economic and statistics stated that GDP will help South Sudan to attain membership of the international Monetary Organization, IMF and borrowing at concessional rates under the World Bank.

“We got some information from the Ministry of Finance, projects commissioned by GoSS and donor contribution to the government.”

He said the bureau has been working closely with international organizations such as the World Bank and the International Monetary Fund, IMF.

Countries with GNI per capita $ 1,0005 or less in 2010 are classified by the WB as low income and those eligible for International Development Association are those with GNI per capita lower than $1,175 in 2010.

KCB Opens Branch in Wau

By lagu Joseph Jackson ǀ 08.08.2011

JUBA - Kenya Commercial Bank (KCB) a leading private banking operator in South Sudan which for the last two years has been under massive engineering construction in Wau, opened its 19th branch in Western Bahr el Ghazal State Capital. The bank manager, Okech Ben Taban told the press in his office that due to the big challenges which faced the constructors, the opening of KCB in Wau took a period of two years to finalize.

KCB’s head regional office is located in the South Sudan capital Juba, which is run by a highly motivated team led by a Managing Director who is supported by Business Development Managers. The team is geared up for the challenges of supporting the development of South Sudan.

Okech said that The Kenyan Banking Group, also operates in Tanzania, Uganda, Rwanda, Burundi and other countries of Africa, is backed by the financial stability and favorable heritage of Kenya’s longest established banking organization that has been in operation for 100 years in Kenya and now has extended its services to the Republic of South Sudan as the first international bank.KCB is operating in all the ten States of South Sudan after the 9th July 2011 of its independence declaration. The operation is in line with the bank’s regional expansion strategy, which is underpinned by its vision to be “preferred provider of financial solutions in the country with a global reach.”

The bank branch in Wau will offer a wide range of banking products; education loans to the students who have their account in the branch, as well as salary loans to the State officials, said the bank manager. It has tailored products and services for non-governmental organizations, individuals and young civil servants in the State, added Ben.The bank manager called on the State citizens to take advantage of the bank as the secure banking system for their money than keeping it in their houses.
Link (http://www.thecitizen.info/economics/kcb-opens-branch-in-wau/)

Spanish Investors to Bottle Coca Cola in Juba


By Susan Athiei Mangar

JUBA – Some Spanish investors are to set up a coca cola bottling company in the capital of Republic of South Sudan. This was stated by the caretaker Minister for Commerce and Industry during briefing of journalists yesterday shortly after a meeting with the companies representatives in Juba.

According to the Minister, this is the second meeting they had. The first, was about a month or two ago, in which the investors had come to introduce their idea and applied for a land to the Minister who embraced it but with condition that the investors take all the legal and technical procedures required.

The representatives were the chairperson for the Coca-Cola bottling company in Equatorial Guinea, West Africa, Alfonso Libano and Abdulgalil Besher, chairperson for the Mac beverages in Egypt.

This investment will take 14million US dollars and 10million Euro. They also requested the government to allocate them a land of 2000 square meters near the river; approximately it should be within 5km from the river.

The investors estimate a period of about 18 months from the date of land allocation to them to fix their factory. “We want to build a coca cola company in South Sudan and we are ready to invest and employ the youth and the graduates,” said Alfonso Libano. He continued to say that, “this is mainly because South Sudan is much more stable now and there are a lot of opportunities.”

This bottling company is going to produce beverages, coca cola products and introduce a new brand of mineral water here in South Sudan. The investors are ready to begin their work once the land has been allocated to them by the government.

The investors made some promises. They promised to introduce a high technical treatment machine for treating the water which will be used in the production of beverages; they are to establish market points in Juba and all over the country as well. This is going to create a lot of job opportunities for South Sudanese.

If the prices remain the same by the time their plant has already been completed, the Spanish investors promise to sell their products at 50% of the current price.
Link (http://www.thecitizen.info/economics/spanish-investors-to-bottle-coca-cola-in-juba/)

^^ :cheers:

S. Sudan Investment Conference & Trade Fair (6-8 Oct. 2011)

Blue Spring International in collaboration with the South Sudan’s Ministry of Commerce and Industry is organizing the first South Sudan Investment Conference and Trade Fair. The event scheduled to take place from October Thursday 6th to 8th October 2011 at Nyakuron Cultural Center in Juba City is billed to be the biggest investment and business event ever in South Sudan. The main objective of the business summit and trade fair is to bring together the Government of South Sudan decision makers, local and foreign investors for information sharing and networking.

This ground breaking event will be the first of its kind to be held in Juba, where the Government of South Sudan and its ministries will be strongly represented. In addition, the Southern Sudan Investment Authority, the Southern Sudan Business Forum and the South Sudan Chamber of Commerce and various international aid and donor agencies such as the United Nations, World Bank and European Commission will send delegations headed by senior decisions makers.

The event will bring together forward thinking, international best of breed investors to meet with government officials and key international development partners.

The Background

On July 9th 2011 the world’s newest nation state was born. The Republic of South Sudan (RSS) is the 193rd member of the United Nations and the 54th member of the African Union. Over 80 countries where officially represented at The Independence Day celebration.

South Sudan is about 40 years behind in terms of development relative to its neighbours such as Kenya, Uganda and Ethiopia. There exists an urgent need to develop its infrastructure: road networks, housing, education and health sectors, banking, civil services, insurance, schools and other amenities which are all critical for development. There is a huge opportunity for the donor community, the government, and above all, commercial investors to help in this development.

The country also has an unquenchable thirst for investment in hospitality, road and structural construction, housing, telecommunication, water purification, pharmaceutical plants, warehousing, and electric power generation sectors.

Fishing, livestock husbandry and cattle rearing, manufacturing, transport and communication (airports, rail networks, etc), energy (especially alternative sources of power), mining (oil, gas, and other minerals), education and tourism are all other sectors of the economy are also screaming out for investment and development.

There also exists business opportunities in Risk management and mitigation; Border control & critical infrastructure protection; Transport & Logistics; Security & Peacekeeping; ICT & Telecommunication; Water & Sanitation and Infrastructural development.

The Government of Southern Sudan (GOSS) is attracting international investments and will be hosting conferences in the six continents in the next three months to request international business community to take up these opportunities and help them meet the challenges that lay ahead. To help facilitate the need for rapid change GOSS has also put into place business friendly procedures and systems within its ministries and commissions to attract local and international investments. The South Sudan Investment Conference and Trade Fair is one of the conferences planned to provide information and give international investors firsthand experience interacting with government officials, local communities and other investors.

Blue Spring International has put together the event whose theme is’’ focusing on the future” to enhance information sharing on the business opportunities and investment procedures in the emerging market in South Sudan.

Participants in the business summit will get first hand information in the investment and business opportunities available in South Sudan.

There will also be a platform for the exhibitors to showcase their products and services to both local and international markets. This event is organized in partnership with Capacity Africa Institute, Denlink International and Consumer Marketing Services.
Link (http://www.gurtong.net/ECM/Editorial/tabid/124/ID/5584/Default.aspx)

Gulf Air will start flying to Juba

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August 24, 2011 (KHARTOUM) – Gulf Air, the national airline of Bahrain, plans to start flights to the new state of South Sudan early next year, the company announced.

The airline will fly three times a week to Juba starting next February with fares as low as $447.

South Sudan became an independent state early last month.

Gulf Air’s Chief Executive Officer Samer Majali said the new routes were part of the airline’s long-term strategy to connect Bahrain and the region with new and unexplored markets.

’It is one more example of our pioneering tradition, establishing our leadership position to gain commercial advantage in new markets,’ he noted.

’It also opens up new business opportunities between Bahrain and these fast-developing countries,’ he added.

Sudan Tribune (http://www.sudantribune.com/Gulf-Air-will-start-flying-to-Juba,39946)

Diamond And Gold Discovery Confirmed In WES

By Juliana Siapai E. Anikpara

YAMBIO, 24th August 2011 [Gurtong] - Ezo County of Western Equatoria State (WES) has been assessed to be full of diamond and gold minerals by an expert from South Africa; the representative of the County to WES Legislative Assembly Hon. Joseph Alfred Tindiri has disclosed to Gurtong media.

Hon. Joseph Alfred elaborated that it’s Ezo County, bordering the Democratic Republic of Congo (DRC) and Central Africa Republic (CAR) where the diamonds were first discovered in Biki River at Bagidi Payam of Ezo County in WES during the Sudan civil war and gold was realized at Andari in the same Payam.

The honourable member was informed by the expert that the diamond is 97% best among other diamonds worldwide. According to the expert, diamond deposits exist along the particular River.

He said that DRC was best known for diamond and Ezo being at the border has shared big number of diamond deposits. According to the assessment, a glass of the diamond will build south Sudan for a decade. Now South Sudan has the confidence that if the oil resources are depleted, then it will open the exploitation of the diamond, gold in Ezo, Western Equatoria and Gold in Kapoeta County of Eastern Equatoria. The diamond, Gold and forestry are the main natural resources so far discovered in WES.

Hon. Joseph Alfred also disclosed that the same expert who assessed the diamond was the very person who traced and further proved beyond reasonable doubt that the gold was of higher quality in the international market.

The South African mining expert whose name remained anonymous in this article because the community claimed to have no documentation bearing the assessment that took place in 2003, confirmed that he was sent by the Sudan People Liberation Movement (SPLA) to assess the quality of the diamond and the quantity of the gold and also assess its value in the international market.

The community further told the Gurtong reporter that the assessment was carried out during the Liberation struggle and they were expecting the exploitation to start so that they would benefit from it, but waited in vain as the government paid less attention.

The community is demanding the government to start the exploitation for them to benefit, this will enable them to improve the State education sector and to boost the economy of the locals.

Meanwhile the Governor of Western Equatoria State H.E Bangasi Joseph Bakasoro has agreed with the Ezo Community. He confirmed that diamond was discovered in Ezo, but he said that the State was scouting for support from international experts (geologists) to reassess on the type, quantity and quality of the diamond.

Bakosoro has also disclosed that the State has signed a Memorandum of Understanding with Chinese experts and that china has agreed to send experts who will reassess the quality and the quantity of the diamond, gold minerals and other natural resources underground.

He said that the memorandum did not talk about exploitation, but if a second assessment states that there are diamond deposits, then the State will report the issue to the national government so that they discuss ways of exploitation.

The Governor further said that the exploitation will boost the economy of the State and enable it to implement other projects without the help of the National Government.

In a series of follow ups on the issue, the State government spokesman who is also the State Minister of Information Mr. Gibson Bullen Wande has reiterated that the experts from china will arrive in WES in September. He said that the team of the experts (geologists) will also look on the issue of the gold and other natural resources that are not yet discovered.

Hon. Joseph Alfred Tindiri said that the management of the natural resources falls under the State Ministry of Agriculture, Department of Natural Resources. However, the community believes that the diamond is under direct supervision of the Government of South Sudan.

Before the new discovery, Western Equatoria State was best known for Agriculture, but has now become the leading in diamond, gold and forestry.

Garamba forest ,the biggest in the DRC extensively covers the WES County of Maridi and it plays a big role in attracting rainfall.

Maridi County receives rainfall throughout the year apart from 2 months. The County is at the green belt just like the Magwi County in Eastern Equatoria State. The County was also a source of food during the 21 years of freedom struggle in South Sudan. However the Lord Resistant Army (LRA) operation at the border of South Sudan, DRC and Central Africa Republic (CAR) paralyzed food production.

The community called upon the government to reduce taxes on consumable being imported from DRC and CAR to enable the victims affected by the LRA operations to afford living in Maridi.

Gurtong (http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/5629/categoryId/1/Diamond-And-Gold-Discovery-Confirmed-In-WES.aspx)

Equity plan to open more branches in South Sudan

Written By:Obrien Kimani, Posted: Thu, Sep 01, 2011

The bank which opened its fourth branch in the country this week plans to tap into the Western, Eastern Equatorial, Jonglei and Western Baraghazal states among others according to Equity bank South Sudan executive director Paul Gitahi.

The world's newest state which has been embroiled in civil war for many decades has become a soft target for Kenyan investors due to massive potential growth as the country embarks on a rebuilding path.

Already there are two Kenyan banks operating in South Sudan and three more are expected to join the list early next year.

Family Bank is the latest to proclaim intentions of opening a branch early next year followed by Co-operative bank and Kenya Commercial Bank.

Local manufacturers like Bidco and EABL who have been using distribution networks to supply the market also plan to establish there while KenolKobil and BAT Kenya target to increase supply.
Link (http://www.kbc.co.ke/news.asp?nid=72242)

^^

e_8Q5ycVXSc

SDG valueless in South Sudan

JUBA, 2 September 2011 – The Sudan Pound (SDG) is no longer a legal tender in the Republic of South Sudan and is therefore valueless in the country, the Governor of the Bank of South Sudan Mr. Kornelio Koryom has announced.


Speaking to the press at the bank’s premises in Juba this morning, the governor said that effective today the SDG can no longer be used to transact any business in South Sudan after the currency exchange period elapsed yesterday.


The governor also announced that the bank will soon release coins which he said will be in 50, 25, 10 and 5 piaster denominations.


Mr Koryom explained that the collected SDG will be kept by the bank awaiting the results of the ongoing negotiations facilitated by the African Union on whether the Republic of Sudan will redeem the old currency or not. He said the bank will decide what to do with the currency once the negotiations are complete and a conclusive decision is reached.


He commended the committee which coordinated the exercise for a job well done in spite of immense logistical challenges. He also thanked the governors of all the ten states of South Sudan for supporting the currency conversion programme.


The press conference was also attended by the deputy governors Mr Jamal Abdalla Wani and Mr John Dour Majok. Also in attendance were the members of the currency exchange committee as well as senior Bank of South Sudan officers.

New airline for South Sudan

By Wolfgang H. Thome, eTN | Sep 05, 2011

(eTN) - South Sudan’s latest privately-owned airline, Southern Star, took delivery last week of their first aircraft, a Dash 8 supplied by ALS of Nairobi Kenya on a long-term contract.

The new airline is reportedly planning to start operations with domestic flights across the vast Southern Sudanese territory, connecting Juba with such towns like Malakal, Rumbek, and others. Air transport is seen as a fast and safe mode of travel within the South Sudan, where a nationwide cross country network of highways and roads is only now beginning to be constructed.

According to a source from Nairobi, Southern Star is due to receive additional leased aircraft from ALS in due course to expand their network into the wider region. The new Republic of Southern Sudan is expected to commence negotiating bilateral air services agreements, in short BASA’s, with first neighboring countries, which when coming into effect will regulate the number of frequencies and spell out the number of designated airlines from both BASA partners allowed to fly on the route. Presently air traffic in and out of Juba is dominted by foreign airlines, but sooner or later the principle of reciprocity will come into play, giving airlines registered in South Sudan a stronger position when it comes to claiming their share of the traffic.

The ownership of Southern Star could not be immediately established nor could suggestions that ALS was a partner in the venture.

Link (http://www.eturbonews.com/25022/new-airline-new-country)

Uchumi eyes entry into South Sudan retail market

By GEOFFREY IRUNGU

Posted Thursday, September 15 2011

http://www.businessdailyafrica.com/image/view/-/1236412/medRes/294895/-/maxw/600/-/fbmarsz/-/uchumi.jpg

A branch of Uchumi in Nairobi. The firm is eyeing the S. Sudan market.

Uchumi Supermarkets is eyeing entry into the South Sudan market as part of the listed retailer’s expansion drive to boost growth.

Chief executive Jonathan Ciano said Tuesday Uchumi would open a branch in Juba, which is likely to remain the newly independent State’s commercial capital “for at least a decade” even as plans are under way to relocate the administrative town to Ramciel.

“The change in capital will not affect our plans. If anything it may take ten years for the other city to catch up with Juba. You need to draw a parallel with Lagos and Abuja or between Dar and Dodoma. Commercial activities are still concentrated on the older cities even though the capitals have moved,” said Mr Ciano.

Uchumi is currently looking for business premises and does not have a firm date when it expects to have opened for business in South Sudan.
The retailer also plans to expand to other locations or add to existing branches in towns where it already has a presence. Areas targeted for opening new branches include Kisumu, Ongata Rongai, Kisii, Taj Mall (Embakasi), Gulu, Kabalagala, Quality Mall in Dar, Natete and Freedom City in Kampala.

The supermarket chain is facing increased competition in the saturated Kenyan market from retailers such as Naivas, Tuskys and Nakumatt; that expanded at a time that the firm was under statutory management.

Uchumi Supermarkets, which re-listed at the Nairobi Stock Exchange (NSE) in May after a five-year absence, has returned to profitability. In the year ending June 2011, the company announced a pre-tax profit of Sh514.8 million compared to Sh433.2 million earned in 2010.

However, its after-tax profit was lower at Sh390.4 million from Sh865.1 million in the previous year, when it received tax credits due to a history of loss-making.

The company share was trading at Sh8.30 yesterday afternoon down from the previous day’s average of Sh8.40. This would suggest a P/E of 5.6 compared to the commercial and services sector average PE of 8.4 as at September 9.

South Sudan Changes Fiscal Year Cycle

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Dr. Barnaba Marial (right) accompanied by Hon Atem Yak Atem (left) addressing the media [©M. Safi]

JUBA, 14 September 2011 – The Minister for Information and Broadcasting Dr Barnaba Marial Benjamin has announced that South Sudan has changed its annual budget cycle which will now run from July to June as opposed to the January-December cycle hitherto applied by the Government of Southern Sudan.

Dr Marial also reported that the budget for the current financial year is likely to be deliberated by the Council of Ministers this Friday. He said the government has been releasing funds only for urgent purposes and salaries for the civil servants. He expressed confidence that the new budget will be aligned to South Sudan’s new status as an independent sovereign State with new responsibilities and institutions.

The minister also introduced the new deputy minister for Information and Broadcasting Hon Atem Yak Atem whom he described as a member of the Fourth Estate whose contributions will be valuable for both the government and the media fraternity.

He said Hon Atem is a veteran journalist who contributed greatly to the liberation struggle through the SPLA Radio and the weekly SPLM/A Update which he used to edit.

Hon Atem allayed fears that he may find it difficult to fit in his new position and asserted that media professionals are dynamic and are able to shift roles in the service of the people. He also emphasized that the media is a partner of the government in the interest of national development and public good.

Hon Atem also called on the media to carry messages of peace, hope and reconciliation which would unite the people and harness their support for new challenges of nationhood.

Dr Marial announced the resumption of the weekly media forums to be held every Tuesday at the ministry’s headquarters. He also announced that the next forum will be addressed by the new minister for Interior Hon Alison Manani Magaya.

In attendance was Hon Bona Makuach Mawien the minister for Information in Northern Bahr el Ghazal State, who appealed for long-term solutions to flooding menace in Aweil. He explained that flooding is normally caused by poor drainage systems. He said that the state government is addressing the situation with the support of the national government and development partners.

The forum was also attended by the Acting Undersecretary of the Ministry of Information and Broadcasting Mr Mustafa Biong Majak, the Director General for South Sudan Radio and TV Mr Arop Bagat, senior officers of the ministry and journalists from various local and international media houses.

US oil companies to operate in South Sudan

WASHINGTON, Sept 16 (Reuters) – The United States is drawing up new guidelines to permit U.S. oil companies to operate in South Sudan without running afoul of U.S. sanctions that apply to Khartoum, a U.S. official said on Friday.

Princeton Lyman, the U.S. special representative for Sudan, said the Treasury Department would soon clarify how companies may apply for U.S. licenses to enter the oil business, saying it was a priority for the U.S. government and for South Sudan.

“I’m sure we’re going to open that door, but the rules of the game are still being worked out and that is very frustrating to the South because they want American oil companies there,” Lyman told a trade briefing in Washington.

“There is a task force working on it and they will, God willing, have something soon.”

The United States imposed a series of sanctions on Sudan in 1997, accusing the government of human rights abuses and supporting terrorism, and tightened the restrictions further in 2006 over the separate conflict in Sudan’s Darfur region.

When South Sudan declared independence from the north in July, the United States said it was no longer covered by the existing sanctions regime.

But since the two countries’ oil industries are so interconnected, it has been impossible for U.S. oil companies to get a piece of the market now dominated by Chinese, Indian and Malaysian companies.

Sanctions drove out Chevron Corp , Marathon Oil Corp and other Western companies, but industry sources say many are keeping their options open about reviving investments in the oil-rich African country. China National Petroleum Corp, Malaysia’s Petronas and India’s Oil and Natural Gas Corp are among the oil firms now operating in South Sudan.

Lyman said the United States could not quickly remove the sanctions, which would require congressional approval.

But he said the Treasury Department would define new criteria for licensing oil deals that would provide only “incidental” benefits to the North, making some deals with South Sudan possible.

South Sudan signs cooperation pact with AfDB

The African Development Bank (AfDB) has signed an agreement with the South Sudanese government to enable the bank to extend financial support to the world’s newest state, the AfDB said in a statement on Monday.

AfDB President Donald Kaberuka and South Sudanese Finance Minister Kosti Manibe Ngai, signed the general cooperation agreement in Washington, on the sidelines of the International Monetary Fund/World Bank annual meeting.

The agreement allows the AfDB to begin offering financial and technical aid to the South Sudanese government, pending its full membership of the AfDB.

The Bank President said the board of governors had endorsed the cooperation agreement with South Sudan, which would enable the bank to boost its presence in South Sudan, which clocked two months old on 9 September, 2011.

South Sudan welcomed the endorsement of the country’s national development plan and welcomed the pledged financial assistance ahead of the country’s full membership.

Ngai said the expected funding from the bank would enable the infant nation to fast-track the implementation of the projects identified under the development plan.

Kaberuka emphasized the urgent need to have the AfDB on the ground in South Sudan, saying: “This urgent need was appreciated by all the bank stakeholders, who accepted a fast-track approval of this general cooperation agreement.”

Link (http://www.afriquejet.com/south-sudan-signs-cooperation-pact-with-afdb-2011092723321.html)

It's business time in Juba

By Arne Doornebal, Juba

It has already been dubbed ‘the scramble for South Sudan.’ Investors from all over the world are flocking into the three-month old country, looking for investment opportunities in several sectors of the economy of the 193rd member of the United Nations. More than twenty Dutch companies visited Juba this week in a mission organized by the Netherlands-African Business Council (NABC).

“South Sudan is like a clean sheet for investors,” says Anne Itto, a high profile politician and farmer from South Sudan. “We have 640 thousand square kilometers of land which is mostly arable. The agricultural sector can flourish here.”

Changing the mentality

Agriculture, energy, transport and construction are the main areas of interest of the Dutch trade mission. “This is a very important moment for Dutch companies to invest in South Sudan,” says former Dutch Minister for Development Cooperation Agnes van Ardenne, who leads the Dutch delegation. “After twenty years of war this country needs to develop its economy. It is time for us to change the mentality of development aid to a business approach.”

Matchmaking instead of PowerPoint presentations

While the Dutch delegation was in a meeting with South Sudanese businessmen in one of Juba’s hotels, the room next door was reserved for a Japanese delegation. And a trade mission from India is expected in Juba shortly. “Since independence, many people came to South Sudan for business. But I am not afraid that we will be looted; our government will see to it that that won’t happen,” says Anne Itto.

“In our approach we like to work together with the local business people,” says Van Ardenne, who knows South Sudan well from her ministerial days. “We prefer ‘matchmaking events’ over giving glossy PowerPoint presentations to the government, although we acknowledge that they are crucial in setting the business climate.”

Virgin for investors

“Almost all fruit and vegetables in Juba are being imported from Uganda,” says Ed Swier of the Dutch seed company Bakker Brothers, while inspecting Juba’s Konyo Konyo market, where most traders are Ugandans. Swier sees a good opportunity here to sell seeds to local farmers. “I expect to start working with our local partner and bring our seeds on the market here very soon,” Swier says.

Delegation leader Van Ardenne has another success story to report - a renewable energy project: “Two of our companies have found a local partner who was looking for the suitable knowledge. Together they will set up a small facility.”

Big Dutch companies trading in cars, lorries and buses also take part in the trade mission. South Sudan seems to be interested in any kind of business, since many areas of the economy need to be developed. In the words of the South Sudanese Agriculture Minister Betty Achan: “South Sudan is a virgin for investors.”
Link (http://www.rnw.nl/africa/article/it%E2%80%99s-business-time-juba)

South Sudan introduces piaster notes


Thursday, 20 October 2011 19:43 Economy >>>


The Central Bank of South Sudan has put the new piaster notes into circulation.

The new notes went into circulation on Wednesday in the denominations of 5, 10, 25, and 50 piasters. They will make it possible to purchase smaller items that cost less than a pound, the Central Bank Governor Kornelio Koriom, told Radio Miraya on Thursday.

The South Sudanese Pound became legal tender following the declaration of the country's independence on July 9 2011.

China grants South Sudan $31.5 mln for development projects

October 24, 2011 (JUBA) – The Chinese government today extended a grant of 200 million Yuan (about 31.5 million US dollars) to South Sudan for development projects in the newly independent state.

The grant was announced on Monday in Juba after a meeting between the South Sudanese minister of Information and Broadcasting, Barnaba Marial Benjamin and the Chinese Ambassador to Juba, Li Zhiguo.

Ambassador Zhiguo said the grant is dedicated to support agriculture, education, health and water supply projects. He further said that Beijing’s government will donate a number of radio stations to South Sudan to promote media development.

He further said that Chinese officials are in consultations with their counterparts in South Sudan to determine more development projects to be implemented where there are real needs. He pledged that Chinese enterprises will start their work soon after the end of the current discussion.

Minister Barnaba welcomed the Chinese gesture and praised Beijing’s tangible support for the South Sudan’s development endeavors.

"We want you to look comprehensively in the areas of investment as well as education, especially university education, which is constantly facing infrastructural and personnel challenges," he said.

Last August during a visit to Juba, the Chinese foreign minister Yang Jiechi said his country will continue to develop “friendly cooperation” with South Sudan, including providing aid.

After a meeting with the South Sudan President Salva Kiir in August, Yang emphasized that the two countries should enhance cooperation in the fields of oil, mining, agriculture and infrastructure construction. He further said China will continue to help South Sudan promote development and improve people’s living conditions.

China, which will receive Salva Kiir in December of this year for more talks on development projects and economic cooperation, is the first oil producer in South Sudan.

Last September, Juba said it will respect previous oil contracts signed between the Sudanese and other investors, before the independence of the South Sudan on 9 July 2011.

Link (http://www.sudantribune.com/China-grants-South-Sudan-31-5-mln,40523)

AECF launches funding competition in South Sudan

JUBA, 28 October 2011 – The Africa Enterprise Challenge Fund (AECF), which provides investment support to businesses which wish to implement innovative, commercially viable investment ideas has launched a competition for funding in South Sudan.


The AECF is a US$ 150 million fund backed by leading development finance institutions and hosted by the Alliance for Green Revolution in Africa (AGRA) supporting the private sector. It also supports businesses working in agriculture, rural financial services, renewable energy and technology to assist small farmers to adopt climate change. It also supports initiatives in the media and information services relating to these sectors.


Through an open and transparent “competition” for investment support in the form of grant and interest free loans, the AECF seeks to promote risk taking and innovation amongst established businesses and encourage new ones and create opportunities for the rural poor.


The AECF provides grants and interest free loans from a minimum of US$100,000 to a maximum of US$1.5 million per project. The applicants must provide matching funds of at least the equal amount to that requested from the AECF.


The competition will be amongst South Sudanese, African and international companies .To qualify for funding a project should be commercially viable and have a positive impact on the rural poor in South Sudan to increase incomes and employment for poor people through reduced costs and improved productivity.


The UKAid is the sole funder of the AECF South Sudan Window. Other funders are the Australian Government Aid Programme, Consultative Group to Assist the Poor (CGAP), the Danish International Development Agency (DANIDA), the UK Department for International Development( IFAD/ and UKAid ), the International Fund for Agricultural Development (IFAD) and the Netherlands Ministry of Foreign Affairs (NMFA).

Djibouti / South Sudan

Business Opportunities

At the head of a national delegation, the chairman of the authority of ports and free zones in Djibouti, Aboubaker Omar Hadi, participated in the work of the conference on investment and trade, which began last Friday at the center Nyakouron Cultural Juba. On the sidelines of this meeting, the senior Djiboutian officials met with South Sudan with whom he discussed the business opportunities between the two countries. The quality of services as the autonomous port of Djibouti and the International Container Terminal Doraleh offer.

A national delegation, led by the President of the authority of ports and free zones in Djibouti, Aboubaker Omar Hadi, held on the evening of Friday an official reception at the Hotel New Sudan in Juba, the capital of the Republic of South Sudan.

Some 200 people including the Minister of Agriculture of South Sudan and several businessmen in the country attended a screening of the ports and free zones in Djibouti Djibouti.

The quality of services as the autonomous port of Djibouti and the International Container Terminal Doraleh offer. For its part, the Minister of Agriculture of South Sudan has welcomed the Djibouti delegation on the sidelines of this projection.

On the morning of that day last Friday, the secretary general of the Chamber of Commerce of Southern Sudan, Simon Deng, received the President of the authority of ports and free zones in Djibouti, Aboubaker Omar Hadi.

The two officials discussed the economic relations existing between the two countries. The next day, Saturday, October 8, 2011, the chairman of the authority of ports and free zones in Djibouti met the Ethiopian ambassador accredited to Juba in southern Sudan where the two men discussed relations between the two countries.

Many initial contacts took place on the sidelines of the conference on investment and trade, which began last Friday Nyakouron cultural center in Juba.

In short, these meetings were a good opportunity for the mission of M Aboubaker Omar Hadi to highlight business opportunities in Djibouti to the South Sudan hosts and other participating delegations.

source (http://www.lanation.dj/news/2011_ln201/article6.php)

Original article in French, sorry for the quality, google translation

The potential for Djibouti-South Sudan cooperation/trade is there :cheers:

^^ :yes:

Qatar National Bank Group opens its first branch in Juba, South Sudan

Qatar National Bank (QNB) Group, the financial institution in Qatar, announced the inauguration of its first branch in Juba, the largest city and the Capital of the Republic of South Sudan. The country which came into existence in July 2011, is the newest independent nation in the world.

QNB Group obtained the necessary license and approval form the Central Bank of South Sudan to commence business from its first branch in the capital, Juba.

QNB is the first GCC and foreign Bank to open a branch in Juba, after its official independence.

The branch will offer a full range of banking services and products to corporate entities, and government, such as advisory services including corporate, project and trade finance. In addition, it will provide various services for individuals, including fixed deposits and current accounts and wealth management.

QNB's new branch will contribute to the development of the Economic sector of the Country focusing on the business and banking relationship between South Sudan and the international banking and Business communities.

QNB's corporate finance, asset management and investment banking services are accompanied by advanced advisory capabilities and a long track record of success in the Middle East and North Africa (MENA) region, where the Bank has advised and participated in numerous high profile transactions. The Bank has extensive experience in research, economics and analytics in the region.

Since newly independent, Juba has become an even more important city. South Sudan holds strong economic potential and is expected to develop rapidly. Key factors among these areas are infrastructure development projects and the overall elevation of GDP per capita through the promotion of international trade and commerce by the government.

QNB's long term expansion plans in the region involves providing corporate banking and project financing facilities to leading organizations and governments.

QNB is one of the highest rated banks in the Middle East and North Africa Region based on leading credit rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications for its innovative products, services and remarkable performance.

Link (http://www.ameinfo.com/279779.html)

South Sudan wants investors for refinery

CAPE TOWN (Reuters) - Africa's newest country South Sudan is looking for foreign investors to help build a refinery, a government official said on Wednesday.

"We are keen to attract investors to develop a refinery to meet local and regional needs ... This is one of our most important needs," Elizabeth James Bol, the country's deputy minister of petroleum and mines, told the Africa Upstream conference in Cape Town, which is part of Africa Oil Week.

South Sudan became independent on July 9 after a referendum agreed under a 2005 peace deal with its former civil war foe, Khartoum.

Land-locked South Sudan took most of the country's oil reserves with it and produces about 380,000 barrels per day, the deputy minister said.

A refinery would be a major undertaking in the impoverished and war-shattered country, which has little in the way of infrastructure.

It would also lessen its dependence on Sudan. The oil sectors of the two nations are inter-linked, and this makes it difficult for U.S. investors to go into South Sudan because of sanctions and restrictions that Washington still imposes on the north.

The deputy minister also said there were several blocks under development in the country where investment and partnership opportunities still existed.

Reuters (http://af.reuters.com/article/investingNews/idAFJOE7A10G120111102?feedType=RSS&feedName=investingNews)

States and Central government agree to harmonise taxation

Thursday, 10 November 2011 20:16 Economy >>>

The central and states’ governments have resolved to streamline and harmonise the system of tax collection in the country.

The decision was announced on Thursday, after a two-day meeting in Juba between the Ministry of finance and finance ministers from the ten states of South Sudan.

The South Sudan Deputy Minister of Finance and Economic Planning, Marial Awou Yol, told reporters in Juba that streamlining the taxation system is a significant step towards government’s efforts to implement a single unit of taxation.

The meeting also resolved to meet the Intergovernmental Fiscal Relation Taskforce annually to discuss matters of finance.
Miraya (http://www.radiomiraya.org/index.php?option=com_content&view=article&id=7210:states-and-central-government-agree-to-harmonise-taxation&catid=90&Itemid=298)

S.Sudan to revamp factories shuttered by war-official

* Country eager to reduce dependence on imports, oil

* Independence has sparked investor interest, official says

* Many South Sudanese optimistic after independence

By Alexander Dziadosz

JUBA, Nov 17 (Reuters) - South Sudan plans to invite investors to revamp about eight food, cement and textile plants shut down during a decades-long civil war, in a push to create jobs and reduce dependence on imports, an investment official said on Thursday.

South Sudan declared independence in July and is eager to draw in foreign investors to help build an economy devastated during one of Africa's longest and deadliest conflicts.

It also wants to diversify its economy away from oil, which provides some 98 percent of state revenues, and reduce its heavy dependence on goods shipped in from abroad, particularly from its former civil war enemy, Sudan.

Ministry of Commerce, Industry and Investment Undersecretary Elizabeth Manoa Majok said the country aimed to seek bids on the first factory, an edible oils plant in the country's Lakes state, in the first quarter of next year.

"We are receiving a report (on the factory) at the end of this year, so the first quarter of the year we want to engage the potential investors in that area," she told Reuters in an interview, adding it may be tendered as a public-private partnership. The factory dates back to 1948, British colonial rule in Sudan, and covered about 56,000 square metres, information provided by the ministry said.

Civil war waged for all but a few years since 1955 has left South Sudan with an almost complete lack of infrastructure and industry, aside from oil. The country has few paved roads outside the capital, Juba, and large parts become inaccessible by ground transport during the rainy season.

Often described as one of the world's least-developed nations, it has high levels of poverty, illiteracy and maternal mortality rates. Hospitals and schools are scarce.

INVESTOR INTEREST

Majok said South Sudan had seen a surge of investor interest since independence, although a lack of infrastructure, dependence on imports, a lack of local training and other issues still posed deep challenges.

"That is why we are tackling the defunct factories. If they are to come onto the scene, it will reduce a lot of imports. We are actually channeling a lot of our hard currency outside," she said.

Majok said she was unable to give an indication of amount of investment the country was looking for, or the number of jobs it hoped to create, until the completion of assessments by external consultants.

After the edible oils factory, the government plans to develop a cement factory in Eastern Equatoria state, aiming to find an investor within 10 months.Two textile factories would follow, and the remainder -- which include sugar and canning -- would be assessed afterwards.

South Sudan split off into a separate country after voting for independence from Sudan in a January referendum promised in a 2005 peace deal that ended the civil war.

One of the main motivations for the former rebel movement was the complaint they had been economically marginalised by Khartoum.

"It (independence) will allow us to decide our own destiny, it will allow us to control our resources. Because the resources of the south were being used to develop the north. That was a fact," Majok said. (Editing by Sophie Hares)

Reuters (http://af.reuters.com/article/commoditiesNews/idAFL5E7MH3TX20111117)

South Sudan Central Bank introduces new payment systems

November 30, 2011 (JUBA) - The Central Bank of South Sudan on Wednesday announced it was embarking on a modernisation of the country’s payments, clearing and settlement systems.

http://www.sudantribune.com/local/cache-vignettes/L387xH250/Kornelios_Koriom_Getty-d7a82.jpg
Kornelio Koryom Mayiik (Getty)

Bank officials say the development will be part of a national payments system plan which forms an integral part of the prerequisites for effective financial management regulation and monitoring.

Speaking to reporters at the bank’s board room, Kornelio Koryom Mayiik, the central Bank Governor said the initiative is part of the Central Bank’s strategic vision of modernising the payments and settlement system into one comparable with the rest of the world.

“The system will lower costs, make payments and settlements more accurate and pave the way for increased financial innovations in the country”, Mayiik told journalists.

He said the new process includes the establishment of what he called Real Time Gross Settlement System (RTGS), the Automated Cheque Processing/Automated Clearing House (ACP/ACH), Securities Settlement System (SSS) and an electronic National Switch for retail payments.

The top bank official elaborated that the rationale for the initiative is justified by the fact that South Sudan remains a cash based economy, with payments of large transactions requiring the movement of cash and its attendant risks. The continued dependence on cash payments, he said, also results in delays in cheque processing and inefficiency.

The official noted that the cost of printing currency is quite high, so using plastic cards under the National Switch project would save the nascent nation money. South Sudan became independent less than five months ago and issued it new currency just days after secession from north Sudan.

He added that the Central Bank currently operates a manual cheque clearing system, where commercial banks meet to physically exchange cheques and net balances settled through their current accounts held with the Central Bank, which is time consuming and less efficient in detecting cheque frauds. The delay in confirmation of customer balances due to the lack of real time gross settlement systems results to the acceptance of cheques, which would otherwise be rejected outright.

“Some of these cheques turn out to be dishonored due to various reasons; and the bank has registered insignificant progress in her socio-economic development, simply because it is a consuming country which produces and exports nothing apart from oil. We just became an independent nation. We did not have anything before. So we are trying to consolidate our efforts as bank through the modernisation of the payments system and the creation of a conducive environment for further growth”, he asserted.

The systems when fully functional, he said, will help the Central Bank eliminate or minimize risks associated with payments, clearing and settlement system, eliminate float size for individual customers and banks as well as significantly reduce the float time for cheque clearance, with the possibility of reducing the clearance time from five days to one day in addition to combating fraud and forgery, pave way for reducing high case intensity and gradual migration to high usage of electronic modes of payment, and bring efficiency to government receipts and payments and all other consumers and leverage them for financial deepening of the economy.

“It will also ensure compliance with international principles and standards, especially the core principles for the Systematically Important Payments Systems (SIPS) of the Bank for International Settlement (BIS) and enhance the Central Bank’s monetary management capabilities.

Explaining the techniques behind the initiative, the central bank chief noted that in their quest to ensure the realisation of government’s vision, the Central Bank wishes to harness technology to its advantage and the rest of the financial system. He said the applicable technology in the field of finance enables the elimination of heavy dependence on physical movement of cheques for clearing purposes.

It presents the fastest and most secure mode for clearing cheques through digital means and replaces the physical exchange of cheques between the presenting and paying banks. However, the effectiveness of the system depends largely on how users handle cheques.

He further revealed that the Central Bank will soon embark on a sensitisation process geared towards educating the public on the up-coming plans and the importance of careful handling of cheques.

He also took the opportunity to inform the general public that under the new system, "all cheques payable through our banking system shall be in compliance with specific characteristics, critical among which is the Magnetic Ink Character Recognition (MICR) code."

The MICR represents a unique code which is inscribed on each cheque leaf and forms the basis of electronic processing. Once the cheque passes through a scanner, an image is generated, which passes through the system electronically for timely confirmation of customer balances and the immediate payment of beneficiaries where applicable.

However, the scanner cannot capture images of damaged cheques, which may result to processing failure. Cheques, he emphasised may be damaged through, writing on the MICR code area, folding of cheques in a form which may prevent its passage through the scanning machine, soiling of cheques with oils, paints or other permanent marks, wear and tear of cheques due to poor storage facilities, stapling of cheques, forgeries aimed at defrauding the system among others.

Governor Mayiik said that all banks would be adequately equipped to implement the new measures. He said he hoped the public would cooperate to help the full implementation of the new payments system.

(ST)

South Sudan signs MoU with UAE Investment Company

January 11, 2012 (ABU DHABI) – As part of the ongoing efforts to mobilise foreign investment South Sudan has signed a Memorandum of Understanding (MoU) with Abu Dhabi Investment Company of the United Arab Emirates (UAE) in order to invest in various sectors in the six month old country.

The Abu Dhabi Investment Company, also known as ‘Investment AD’, was founded in 1977 by decree of the former President of the United Arab Emirates and ruler of Abu Dhabi, late Sheikh Zayed Bin Sultan Al Nahyan. It was originally set up to invest on behalf of the Abu Dhabi government.

In 2007 the company was given a new mandate, to attract and manage third-party funds, in addition to the investment of government assets.

Owned by the Abu Dhabi Investment Council, Invest AD is closely aligned with the long-term diversification and growth objectives of the Abu Dhabi authorities as expressed in the government’s long-term strategy, the Abu Dhabi 2030 Vision, with special focus on Africa and the Middle East.

The Company has expressed its willingness and readiness to invest in South Sudan and also help to mobilise other partners from Europe, America and Asia to invest.

On Wednesday, in Abu Dhabi city, South Sudan’s Vice President, Riek Machar, signed the MoU with the Company’s CEO, Nazem Fawwaz Al Kudsi.

The signing ceremony was witnessed by the South Sudan minister of Roads and Bridges, Gier Chuang Aluong, Governor of Unity state, Taban Deng Gai and Bank of South Sudan’s governor, Cornelio Koryom Mayik, among others.

The visit to UAE come after Machar’s delegation attended a conference in India.

Areas of cooperation and investment covered by the MOU include railways, roads and bridges, housing estate, aviation, shipping, energy and utilities, oil and gas services, financing and securitisation, telecommunications, IT services, minerals and mining, banking, sports facilities, among others.

Relevant ministries in South Sudan will work out the details of the priority areas or projects with the company.

The governor of Unity state, Taban Deng Gai, to this effect also signed a MoU with the same company, at the same occasion, on infrastructures projects in his state.

The Vice President’s Press Secretary, James Gatdet Dak, also said Machar met with a number of other potential investors who similarly expressed their interest to invest in the oil producing fertile country.

Macahr told the investors that his country is managing high expectations of the people after the region gained independence from north Sudan in July 2011.

(ST)

Large Deposits of Limestone Discovered in Kapoeta, Eastern Equatoria State

By Owen Bosco ǀ 29.02.2012

The Governor for Eastern Equatoria State Louis Lobong Lojore has hailed the discovery of huge deposit of Limestone wealth in the greater Kapoeta. He called upon the citizens that the state development would now be speedily be done given the numerous valuable mineral the region has across the ten counties.

Governor lobong reiterated in his statement that the state is subject to change toward a prosperous equitable development that would be foreseen in the nearest future. “ I hope all the people will be proud of this though a lot more are to emerge as we move forward in putting our houses in order and deliver to the expectation of our people,” he said.

In order to facilitate development of the much needed infrastructure in the country and support social welfare development projects in the State, the National Ministry of Commerce, Industry and Investment in South Sudan has signed a memorandum of understanding to set up a cement plant in the potential South Sudan’s area of Kapoeta.

The director of Industrial Promotion, Development & Control in the RSS’ Ministry of Commerce, Industry & Investment, and Mr. Vermo Oduho Mamur Mete who led the exploration delegation from Juba to EES to conduct their feasibility study concluded it with great inputs that they said was more than they expected as compared to some of the countries producing cement today.

The delegation is composed of six Chinese experts led by Zhang Jingxin and two South Sudanese nationals; Mr. Vermo Oduho Mamur Mete and a Geologist from the RSS’ Petroleum & Mining Ministry Mr. Stephen Massimo Amin.

One of the leading Chinese companies, Chinese Machinery Engineering Corporation (CMEC), has expressed great interest to explore cement investment in Kapoeta County of Eastern Equatoria State.

Mamur stated at Hotel Torit that their main objective of the visit to the region was to re-explore in depth since they conducted a similar exploration last year with another Chinese company.

He said the ministry together with potential foreign investors like CMEC strives to develop industries in mining, agriculture and related types of manufacturing industries in the State.

Mamur said that his ministry selected Kapoeta for the cement factory to be built by CMEC, a site located about 3 kilometres away from Kapoeta town of Kapoeta South County.

“The Ministry of Commerce, Industry and Investment has signed a memorandum of understanding with CMEC to set up a cement plant in Kapoeta which will facilitate the development of the much needed infrastructure in the country as well as support social welfare development projects in the State” a letter dated 19th February 2012, addressed to EES Governor from the Minister of Commerce, Industry and Investment reads.

Jingxin elaborated in response to a question by Gurtong that apart from using cement along with tar to tarmac roads, the most important use of the cement is the production of mortar and concrete -the making of both natural and artificial aggregates to form a strong building material that is durable in the face of typical ecological effects.

He said CMEC is an international engineering contractor, ranked 3rd among the top fifty China’s enterprises listed by the Ministry of Commerce of China in terms of the business turnover completed in foreign engineering contracting in 2008.

Established in 1978, as the first large national corporation integrating foreign trade with industry in China, CMEC is a large global conglomerate with the engineering contracting as its core business and its main business includes international service which forms import and export trade, R & D work and design, building and electrical work are not exclusive.

Zhang explained that CMEC was restructured and renamed from ‘China National Machinery & Equipment Import & Export Corporation’ on January 18, 2011.

Mamur commented that if the Cement Factory is established, it will create an economic marvel to the people of the region and beyond as the State sells its products both regionally and worldwide.

“If all goes well, a cement factory here will supply more than 4,000 kilometres of railroad ties and this could transform Kapoeta into the base of development,” an economic analyst has expressed.

(Citizen)

Boma National Park Headquarters To Open On 8th March 2012

By Juma John Stephen

JUBA, 4th March 2012 [Gurtong]- The Minister of Wildlife Conservation and Tourism, Mr. Gabriel Changson Chang said they are working to establish the foundations and processes for conservation and land-use management in the Boma-Jonglei-Equatoria Landscape of South Sudan.

“Through this partnership we have been developing protected area management capacity by training wildlife officers and rangers, establishment of protected area infrastructure,” Changson said.

“Along with the provision of field equipments, radios and logistical support, is contributing to the sound and safe development and implementation of wildlife conservation, law enforcement and anti-poaching operations in and around Boma and Badingilo parks,” he said.

“The headquarter buildings, operation bases and patrol posts have been strategically planned and are being constructed at Boma and Badingilo parks and key areas of the migration corridors,” he continued.

The partnership has been working over the past few years to build capacity of the government, civil society and local communities to sustainably manage natural resources, reduce conflict and improve security.

This is to enhance livelihoods and economic opportunities for local communities, and conserve the remarkable ecosystem and its magnificent wildlife migrations for the benefit of the people of South Sudan.

(Gurtong)

Kiir, Kibaki And Zenawi Launch Africa’s Biggest Project In Lamu


Compiled by Job Mainye

NAIROBI, 3rd March 2011 - The world watched as the premiers symbolically started the project that set to cost about US$ 16 Billion.

All three were categorical that the project, known as the LAPSSET (Lamu Port-Southern Sudan-Ethiopia Transport Corridor) would transform the lives of their people economically and serve as a unifying factor in the region.

The elaborate and colourful ceremony was held at Magogoni, a sea side location that has for centuries enjoyed tranquillity but which would henceforth hum and buzz with construction work and after completion, unending hustle and bustle of port side economic activities.

The site was chosen because it has a natural deep, wide channel capable of accommodating large ships.

On his part, South Sudan’s President H.E Salva Kiir Mayardit described the project as historic with the potential of transforming the lives of residents of three countries.

“The cost of goods was higher in Southern Sudan than in any country in the region. We are working with friends and international partners to establish highways and transport corridors. But much still needs to be done for South Sudan to become a competitive economy,” he said.

“The project and, more critically an oil pipeline, would help South Sudan break free from the yoke of dependence on Sudan,” Mr Kiir added.

He revealed that after his country stopped oil production due to lack of a conduit for export, it turned to Kenya and signed a Memorandum of Understanding to develop the pipeline.

“South Sudan will live up to its commitment to this partnership and it is our hope that all of us here will do the same.”

The president also mentioned the Republic of Sudan’s aggression and ill motive in the progress of the massive project underway.

“The Republic of Sudan is unhappy with all these ventures we are making; this has been clearly demonstrated by their attitude of aggression when they bombed our oil fields just as i was planning to come here. On Wednesday the 29th February at about 2 pm the government of Sudan's Armed Forces bombed Alnar wells number 5 and 8,” President Kiir said in his speech.

President Kibaki, in his off-the-cuff remarks that excited the crowd, allayed fears that the project would lead to loss of local land, saying nobody’s rights would be violated.

President Kibaki assured Lamu residents that their concerns over land, environment, cultural heritage and fishing grounds will be addressed.

“Nobody will come to take your land and we are not telling you this because visitors are here. I am here to tell you that as a government, we want all residents of Lamu to join this venture,” he said.

He further emphasised that Kenya’s partner States like Ethiopia were keen on doing business with Kenya and not exploiting it.

An initial 1,000 youths in Lamu will be employed in the first batch of jobs created as the port construction gets under way.

“Those who are ready should come out even the day after tomorrow,” he said and added that issuance of title deeds to residents of Lamu and other parts of Coast province would be speeded up.

He revealed that he had signed an MoU with South Sudan on the construction of an oil pipeline from Juba to Lamu and another agreement with Ethiopia to help Kenya tap into its sources of energy.

In addition to addressing the transport challenges facing the Northern, Eastern and Coastal parts of Kenya, the President noted that the transport corridor will generate employment and act as a catalyst for increased productivity in various sectors of the economy.

“This Project is expected to play a critical role in enhancing the economic livelihood of over 167 million people in our region,” the Head of State said.

He also directed that a technical institute be constructed as an integral part of the port development to ensure continuous training and re-skilling of local people, neighbouring local communities will also benefit from port and corridor development dividends in areas such as provision of water, electricity, roads and new schools.

Mr Zenawi said the Lamu project will play an integral role in enhancing connectivity between the three countries.

“It is not hyperbolic to say we are making history today. We are making history because as countries wracked by poverty, this project reflects our commitment to chart our own economic development,” said the Prime Minister.

He said the project will play a critical role in meeting the transport needs of the region.

Kenya's Prime Minister Raila Odinga said the world was watching Africa with great expectations. Africa may be the global engine that will pull the global economy from the current economic slowdown.

He said when the Mombasa-Uganda railway was launched in 1895, it was described as the Lunatic Express but the doubters were eventually proved wrong.

Kenya's Vice-President Kalonzo Musyoka said the project had immense benefits for residents of Lamu while Transport minister Amos Kimunya, who was the master of ceremony, said the project had the support of all Kenyans.

(Gurtong)

http://www.kenyatradefair.com/templates/mx_joomlafree/images/logo.png

Capacity Africa Institute in collaboration with the Embassy of the Republic of Kenya in South Sudan and the South Sudan Ministry of Commerce and Industry is organizing Kenya in South Sudan Trade Fair from Thursday March 8 to Sunday March 11, 2012 at Nyakuron Cultural Center in Juba.

http://www.kenyatradefair.com/images/stories/partnership%20logo.jpg

Event Website (www.kenyatradefair.com/templates/mx_joomlafree/images/logo.png)

CFC Eyes Budding South Sudan Market

By Victoria Rubadiri, 8 March 2012

Nairobi — CfC Stanbic Bank is eyeing the South Sudan market as it seeks to strategically position itself in the increasingly competitive banking sector.

The bank's Chief Financial Officer Edwin Mucai however disclosed that they are looking to play in the corporate space where they believe they have a competitive edge over other banks that have ventured into the virgin market.

"South Sudan will be a branch like any other outlet in Kenya. We still have not got all the approvals but we expect to be there anytime from the second half of the year," the CFO stressed.

The bank is investing about Sh1.2 billion ($15 million) into the new outlet which will be released in three installments of Sh412 million ($5 million) each.

Besides capitalising on the corporate and investment banking, CfC Stanbic intends to continue focusing on its personal and business banking line where it posts higher margins and hopes to recoup its investment in branch network and infrastructure.

"The equity franchise is also very well positioned to take advantage of the switch that will happen from fixed income to equity. So, we are very excited about 2012 and we expect to deliver strong growth," Mucai said in reference to business that they expect their CfC Stanbic Financial Services unit will underwrite if the growth momentum in the stock market is sustained.

Their bright outlook for the year is also informed by the anticipation that interest rates will ease; the exchange rate will continue to be stable and an expected improvement of credit growth in the second half of the year.

A member of South Africa's Standard Bank Group, CfC Stanbic is the sixth largest commercial bank in Kenya in terms of assets (Sh150.1 billion) with 21 branches across major towns in the country.

The branch network has almost doubled since CfC Bank was merged with Stanbic Bank Kenya in 2008.

However, the de-linking of the insurance business into the CfC Insurance Holdings, which was completed in April 2011 and the 24 percent sale in the Stanbic Investment Management Services slightly affected the bank's bottom line.

In December 2011, profit after tax grew by 16.4 percent to Sh1.63 billion while the net interest income increased by 45.5 percent to Sh6 billion.

"Our profit before tax was up 40 percent (Sh2.79 billion), which in my view is very strong performance relative to the market but profit after tax was slightly lower because there was a tax adjustment following some clarification from KRA (Kenya Revenue Authority) on the structured leasing products," Mucai explained.

Total income increased by 23 percent to Sh10.8 billion while fees and commissions grew by 19 percent to Sh2 billion on the back of higher transactional volumes.

He was also quick to defend the bank over accusation that they made super-normal profits from forex speculation that drove down the shilling, saying that trading revenue rose by only six percent to Sh2.5 billion.

The board of directors did not recommend any dividend for the year as it embarks on a profit retention strategy as it seeks to strengthen its capital position ahead of the planned rights issue.

Link (http://allafrica.com/stories/201203080984.html)

Zambian firm eyes South Sudan for investment

A LOCAL engineering firm, Ng’andu Consulting is seeking to invest in South Sudan to take advantage of the yawning opportunities in Africa’s youngest country.

Ng’andu Consulting managing director for its Rwandan franchise Watson Ng’ambi, said 　the company was one of the biggest private entities in Zambia with branches in Rwanda and soon, another one will be established in South Sudan.

According to the Zambia Development Agency (ZDA) newsletter, the company is looking for investment opportunities in the construction industry in that country.

He said the company had a remarkable history in the infrastructural development in several countries in Africa.

Mr Ng’ambi said the company is well known for road and bridge constructions, real estate buildings and sport stadia.

The ZDA newsletter reports thatsaid when he met the Ng’andu Consulting firm managing director in that country that South Sudan was interested in rebuilding the real estates and bridges.

Dr Marial said that the old ones were destroyed by the protracted civil war which devastated most of the public facilities.

Link (http://www.times.co.zm/?p=772)

Kenya’s Co-operative Bank to start operation in South Sudan

Cabinet of South Sudan has approved a joint venture between the Cooperative Bank and the South Sudan government


NAIROBI (Xinhua) -- Kenya’s Cooperative Bank Group will start its operation in South Sudan in the next four months following an initial investment of 14.5 million U.S. dollars, said the group on Thursday.

The Bank’s Managing Director Gideon Muriuki said the cabinet of South Sudan has approved a joint venture between the Cooperative Bank and the South Sudan government.

"We are currently fine-tuning the shareholding percentages between Cooperative Bank and the government of South Sudan and we are expecting to open up four branches in the country in four months time," Muriuki told an investors briefing.

"We hope to export the cooperative banking system to South Sudan in order to develop the sector in the newly independent country."

Muriuki said the government of South Sudan will hold the shares of the joint venture in trust and plans to offload them after five years time.

Muriuki said the Cooperative Bank Group posted a pretax profit of 76.7 million dollars for the 2011 financial year compared to 69.6 million dollars recorded for the same period in 2010.

The key driver for profit growth was increasing customer accounts which grew by 44 percent from 1.6 million to 2.3 million by the end of 2011, the managing director said.

"The expanded customer numbers pushed transaction-based income, including commissions and fees, from 67.6 million dollars in 2010 to 91.7 million dollars in 2011," he explained.

According to the group’s audited results, total assets grew by 9 percent in 2011 to 2 billion dollars compared to 1.86 billion dollars registered in 2010.

Link (http://www.coastweek.com/3510_co-op.htm)

South Sudan Has 18-Month Foreign Exchange Reserve, Machar Says

By Flavia Krause-Jackson - Mar 10, 2012 4:02 AM GMT+1000


South Sudan, which shut down its oil industry in January, has enough foreign exchange reserves to last 18 months and is exploring new ways to raise cash including issuing bonds, Vice President Riek Machar said.

The African nation will post a budget deficit next year as a result of lost oil revenue, Machar predicted in an interview in New York today after visiting investors. To close the gap, the country may seek commercial loans, sell bonds overseas and truck at least a third of its oil production to ports in other nations, he said.

South Sudan, which gained control of about 75 percent of the previously united Sudan’s 490,000 barrels a day of output at independence in July, completed a shutdown of production Jan. 28. It took the action after accusing Sudan of stealing its oil. Sudan said it confiscated the crude to make up for unpaid fees.

The dispute over the fees South Sudan pays the neighboring country to ship the crude via a pipeline to the Red Sea shows few signs of being resolved anytime soon. Oil accounts for more than 95 percent of the economy of South Sudan, according to the government. South Sudan’s gross domestic product per capita is $2,981 a year, according to the International Monetary Fund.

“We are not yet agreed,” Machar said. “There is no time limit. We are still negotiating on this. We can’t pay $32 per barrel as transit fees. That is one-third of the price of oil.”

The largest customer for the oil is China, according to the International Energy Agency.

Link (http://www.bloomberg.com/news/2012-03-09/south-sudan-has-18-month-foreign-exchange-reserve-machar-says.html)

South Sudan to host foreign investment conference

March 9, 2012 (JUBA) - South Sudan said Friday it will host a a high level investment summit later this month expected to bring together more than 300 participants from different parts of the world. The announcement comes as South Sudan’s Vice President draws to a close his visit to the US to promote the young country to investors.

Organised by South Sudan’s ministry of commerce, industry and investment, the summit from 20-22 March will be the first of its kind since South Sudan officially became an independent state in July 2011. After decades of civil war - resulting in the 2005 peace deal that enabled South Sudan to secede - South Sudan is one of the poorest countries the world and relies heavily on imported goods.

Simon Nyang Anei, an undersecretary for investment in the ministry of commerce, industry and investment told Sudan Tribune on Friday that the summit would share and examine existing investment opportunities in different sectors and regions.

The official explained that organisation of such a high level government summit shows that South Sudan is open for business engagement and moving towards integrating into the international economic community.

“The conference will highlight to the world the abundant opportunities and potential area which South Sudan stands to offer after decades of the civil war”, said Anei. The governors of South Sudan’s ten state’s as well as national ministries and "key development partners, associations and investors from different parts of the world".

"The conference would sell the republic of South Sudan as viable investment and business destination”, he explained. The country has minimal infrastructure and problems of insecurity, especially in Unity, Jonglei and Upper Nile States and a largely illiterate population but the government are keen to use the upcoming event to emphasise the potential of both joint partnership and direct investment opportunities.

International companies will be encouraged to engage in commercialising South Sudan’s agriculture and energy industries as well as Information Communication Technology, Anei said.

Echoing Machar’s comments in the US, Anei said that South Sudan was now a sovereign nation having seceded from Sudan, meaning that the eight-month old country did not inherit the economic sanctions the US placed on Sudan for allegedly sponsoring terrorism and for the conduct of its armed forces and paramilitaries in response to the insurgency in Darfur that began in 2003.

“South Sudan is no more part of Sudan. It is already a sovereign nation with business potentials and is free from debts and sanctions as it is no longer part of Khartoum”, he said.

The ministry’s third top official said the new nation has huge potential in oil, agriculture, wildlife and tourism and urged the investors to do business in the region.

A research paper by the Chatham House think tank published in January found that much of the land investment in South Sudan appears to be speculative. A Norwegian People’s Aid (NPA) study quoted in the report found that ’with respect to South Sudan, the size of the deals reflects an investor appetite that is remark- able, given the relative insecurity of the area.’

MACHAR VISITS US

In an effort to promote South Sudan to the world’s largest investors, the Vice President of the Republic, Riek Machar Teny, visited the New York Stock Exchange in in the United States of America on Thursday and held a number of meetings with leading business people.

Machar told the investors that South Sudan is now a sovereign nation with business potentials and is free from the debts and sanctions attached to north Sudan, from which South Sudan seceded in July last year. The issue of debts is contested between the two nations, with Khartoum maintaining that South Sudan should share the burden but Juba has so far refused saying that debt was built up financing the military in its two-decade civil war with southern rebels.

(ST)

Britak plans South Sudan expansion

Saturday, 10 March 2012 00:11 BY WINFRED KAGWE

The British American Group is set to expand its regional reach with the opening of its first branch in South Sudan before the end of June . The listed company, which currently has operations in Kenya and Uganda, also plans to be in Rwanda before the end of the year and later in Tanzania. Group Managing Director Benson Wairegi said this is also in line with its branch expansion project to reach all counties in the country.

Last year the group raised Sh3.5 billion shillings in an Initial Public Offer of its shares with the main aim of funding the expansion. “In South Sudan, we have already acquired a premise and are in the process of recruiting staff,”said Wairegi. “We are currently doing research in Tanzania, where we find there is potential for insurance, but there may be some challenges in terms of regulations and differences in the work culture,” he said while opening a new city branch at Barclays Plaza.

Besides marketing its services out there, Britak announced it is eying the property market in South Sudan, Rwanda and Uganda. “South Sudan presents huge potential for property business, given there is shortage of both residential and office space,” Wairegi said. It is also set to put up a landmark building in Upperhill area, whose planning and approvals are ongoing. Britak listed at the Nairobi Securities Exchange in September at the IPO price of Sh9, but has been trading lower,even below 50 per cent .On Thursday it closed at Sh4.

Link (http://www.the-star.co.ke/business/local/66298-britak-plans-south-sudan-expansion)

Emirati helps set up new airline in newly independent South Sudan
Juba air to boost fledgling country's links to international markets
By Saifur Rahman, Business EditorPublished: 00:00 March 12, 2012

Samir M. Al Sayed Al Hashemi is organising start-up funds of up to $40 million (Dh146.8 million) to kick-start the airline in April.
Dubai: An Abu Dhabi-based UAE national is helping to set up an airline, Juba Air, in the newly independent African state of South Sudan, Gulf News has learnt.
Captain Samir M. Al Sayed Al Hashemi, chairman and chief executive officer of Legacy Aviation, an aviation consulting firm, is organising start-up funds of up to $40 million (Dh146.8 million) to kick-start the airline in April.
"We have already secured the initial approval from the South Sudan government to prepare for the take-off, following the issuance of the Air Operations Certificate for which we are working closely with the government on certification," he told Gulf News in an exclusive interview.
"South Sudan is an emerging market. It is a new country, although as a nation it existed for a long time. The country has a huge potential to grow. It's nearly a virgin market and we want to help it with our expertise."
Article continues below


He added that the return on investment could be double to triple compared to other markets.
An aviation expert, Captain Al Hashemi has also set up a company to manage the country's airport assets and help develop the infrastructure. He has also started a media company to launch radio and television stations.
The airline is being set up in partnership with a few investors from South Sudan. They have already deployed a Boeing 727 aircraft and negotiations are on to obtain a few Boeing 737-400s.
The airline, the first private carrier for the nine-month-old country, will be based in Juba Airport — the only international airport in the country. The airport is located on the outskirts of the country's capital city — Juba — to the northeast of the central business district of the city, on the western banks of the White Nile.
High profile
"The UAE is globally renowned for its forward-thinking and open policy approach when it comes to aviation, so seeing a high profile Emirati assisting South Sudan get on the map is of little surprise," Saj Ahmad, Chief Aerospace Analyst at UK-based Strategic-Aero Research, said.
"As a new country, the incentives from a government perspective to drive traffic, business and tourism, South Sudan will no doubt appreciate the expertise that Captain Al Hashemi will bring."
The government is planning to create a new administrative district where the capital will be located.
"The airport is about 30 kilometres away from the site of the new administrative district where the capital will shift. Either way, the airport is ideally located to cater to both places," he said. "However, the airport needs a lot of investment to cater to larger international airlines and handle bigger air traffic."
Juba Airport handles international and local airlines, cargo traffic and chartered commercial flights. It is also used by the South Sudanese military and by the United Nations relief flights for the country. The airport is at an altitude of 461 metres above sea level, and has one runway that is 2,400 metres long.
As of May 2011, Juba International Airport was undergoing improvements and expansion.
The work included expansion of the passenger and cargo terminals, resurfacing of the runway and installation of landing lights for night operations.
His company has already secured a three-year concession for ground handling of passengers and flights.
"We have a plan to upgrade facilities, expand the runaway to handle larger aircraft. The terminal building is capable of handling the current level of traffic, but not more. We will expand the facilities as well," he said.
Captain Al Hashemi said his company is mobilising resources for a US and a Spanish company to build a hangar that will take care of light maintenance of the airline's fleet.
"One of Juba Air's first destinations will be Dubai — which will help South Sudanese people access goods and services from international vendors," he said.

Edit...

S. Sudan: World Bank earmarks $9 for private sector growth

March 21, 2012 (JUBA) — The newly independent Republic of South Sudan is set to receive a $9m grant from the World Bank as part of efforts to enhance job creation and increase access to finance for entrepreneurs, particularly youth and women, the institution has announced.

The grant, according to a World Bank press release, will help scale up the successful components of a previous multi-donor trust funded private sector development project.

The new project, it adds aims to provide at least 50,000 people with access to finance through targeted Microfinance Institutions (MFIs); assist about 100 entrepreneurs with access to finance through a Business Plan Competition (BPC), and generate at least 250 jobs by enterprises supported by the BPC.

More Here (http://www.sudantribune.com/S-Sudan-World-Bank-earmarks-9-for,41980)

U.S. extends trade benefit program to South Sudan

By: Doug Palmer

Reuters March 27, 2012

WASHINGTON (Reuters) - President Barack Obama on Monday added oil exporter South Sudan to a U.S. trade program for developing countries, allowing the newly independent nation to ship oil and thousands of other goods to the United States without paying U.S. import duties.

"The GSP (Generalized System of Preferences) program is an important tool for helping developing countries to grow their economies through increased trade," U.S. Trade Representative Ron Kirk said in a statement.

Kirk urged the young country to use the GSP program "to continue needed economic reforms."

Oil is the largest import under both the GSP program and a separate U.S. program known as AGOA (African Growth and Opportunity Act) that South Sudan also aspires to join.

GSP eligibility is a prerequisite for AGOA membership, so Obama's decision on Monday is "an important step" toward South Sudan joining the broader program, Kirk said.

More Here (http://au.news.yahoo.com/thewest/a/-/world/13270977/u-s-extends-trade-benefit-program-to-south-sudan/)

New Airline (Safari Air) Licensed To Operate In South Sudan

http://www.gurtong.net/Portals/0/GlobalResources/EN/images/Editorial/Young%20Pilots%20PS.jpg
Captain Abye Mekonnen Nobel (Left) and the five South Sudanese aviation students during the airline lauch in Da Vinci Hotel in Juba [©Gurtong/ Juma Stephen]

By Juma John Stephen
JUBA, 4th April 2012 [Gurtong]

Mr. Kuoc said that Safari Air Service will be subject to all regulations and restrictions like any other airline operating in South Sudan’s airspace.

“I want to inform you that any airline which is going to operate in the Republic of South Sudan will be subjected to a very strict civil aviation law like any other country,” Kuoc said.

“Our government believes in fair competition, therefore we are not going to allow our air system to be monopolized. Any competent airline will be subjected to the audit procedures and allowed to operate in the air space of the Republic of South Sudan. Safari Air will be audited equally,” Kuoc added.

Early this year the Republic of South Sudan enacted the South Sudan Civil Aviation Authority Laws meant to regulate the lucrative industry.

Safari Air Limited is in partnership with Abyssinian Air Flight Services who are acting as catalysts in advancing aviation in this country. The Managing Director of Abyssinian Air Flight Service, Captain Solomon Gezaw said Abyssinian is working hard to equip South Sudan youngsters to step up to the playing field in the aviation sector.

“We want to play our 90 minutes exactly according to the rules. There are unique challenges in the aviation industry but if we approach these challenges with integrity and fairness there is a huge potential,” Gezaw continued.

“We are not just talking about flying a plane from point ‘A’ to ‘B’ but we are also talking about training the young people in all the areas like piloting, mechanics, administration and attendance,” he added.

The planes are licensed to carry 12 passengers only and will be operating chartered flights at the moment to all the ten States. The price for the Charter flights is not yet established. Abyssinian Air Flight Services is renting its aircrafts to Safari Air Limited but the price for renting hasn’t been established too.

Five young South Sudanese students; Ashraf Seif Eldin, Edward Luol, Abraham Joseph Awan, Akol Mario and Angong Piol schooling in Abyssinian Air Flight Services Pilot Training School in Addis Abeba attended the inauguration ceremony.

Abraham Joseph Awan said pilots who fly in Ethiopia can manage the terrains of South Sudan because Ethiopia has high altitudes and South Sudan has low altitudes.

“Training in a place near water bodies is easier because you can follow the river. Flying in the main land first of all is affected with the weather and there are chances that you may not even make it back. So every landing and takeoff is always inspiring to us as students,” Joseph said.

“Flying is bringing the aircraft down. Even a monkey can go up but the problem is bringing it down, once you bring it down, then we can call you a captain,” Joseph added.

Training for Commercial Pilot License (CPL) cost 42,000 US dollars for the whole package and 13,000 US dollars for Private Pilot License (PPL) according to Joseph.

There are multiple aircrafts operating in the airspace of the Republic of South Sudan. In October last year South Sudan became a member of the International Civil Aviation Organization hence the country needs to accord to the rules and regulations of the organization.

Link (http://www.gurtong.net/ECM/Editorial/tabid/124/ID/6745/Default.aspx)

Centenary, Ivory bank deal to ease South Sudan, Uganda trade

By Faridah Kulabako, Daily Monitor|April 12th, 2012 at 4:19 am

A new partnership between Centenary Bank and Ivory Bank is likely to ease trade between Uganda and South Sudan as the two banks move to ease banking services for traders in the two countries.

The banks recently signed a Memorandum of Understanding to share banking services, promote commercial links as well as exchange banking information and experiences.

Under the arrangement, traders will be able to deposit money in Uganda’s Centenary Bank but access it through Ivory Bank in South Sudan and vise-versa.

“Centenary Bank has a big number of clients who do business in South Sudan and the same applies to Ivory Bank. We want to save traders the burden and risks of carrying cash,” Centenary Bank managing director, Mr Fabian Kasi told Daily Monitor yesterday.

Under the deal, Centenary Bank will also help its South Sudan counterpart in capacity building to enable it modernise its banking services in compliance with the best standard practices.

Source: Daily Monitor

Ethiopian private bank to join banking industry in South Sudan

By Tesfa-Alem Tekle

April 14, 2012(ADDIS ABABA) - One of Ethiopia’s leading banking groups United Bank is poised to open its first branch outside Ethiopia in South Sudan’s capital Juba, according to a release from the bank.

The new venture will make it Ethiopia’s first private bank to break into the banking industry inside the continent’s newest nation. The Kenya Commercial Bank also has a presence in South Sudan.

The state-owned Ethiopian Commercial Bank (ECB), opened a branch in South Sudan in 2009 following the 2005 Comprehensive Peace Agreement that brought an end to over two decades of civil war between Sudan and South Sudan.

United Bank said it is finalising preparations to open in Juba. When opened, the bank said it will render all types of commercial banking services.

Banking policies in South Sudan oblige foreign bank firms to have a minimum of 15 million dollars of initial capital to begin operation.

United Bank say it plans to open more branches in other African countries.

Founded in 1998, currently United Bank has 57 branches across Ethiopia. During the 2010/2011 fiscal year the bank reported an all time high gross profit of 330 million Birr - around $19 million.

(ST)

South Sudan joins IMF, World Bank

By AFP | Wednesday, 18 April 2012

South Sudan, the world’s newest nation, joined the World Bank and the International Monetary Fund on Wednesday, becoming the sister institutions 188th member.

IMF chief Christine Lagarde welcomed South Sudan to the fund, saying “the IMF will do its best to assist the country in setting up the foundations for economic stability and growth in the period ahead.”

Finance Kosti Manibe Ngai signed the agreement papers with the IMF. The World Bank confirmed to AFP that South Sudan had joined the World Bank.

South Sudan, which gained independence from Sudan last July after two decades of war, applied for membership in the IMF and World Bank in April 2011.

The IMF is participating in a dedicated $11 million trust fund in support of South Sudan over the next four years.

“The European Union plans to come on board as a lead donor,” the fund said.

Theres a lot of economic activity happening in South Sudan and most of it is focused on south east Africa with Kenya, Ethiopia and Uganda such as the Lamu project. The project will increase Kenya's GDP by 3 percent by 2020, and hopefully South Sudan's as well

^^ What South Sudan need is a reliable export outlet. If Lamu Port ends up providing that.....then, that's will be great for South Sudan economy.

Edit

Standard will open in South Sudan

Bank will open local headquarters in commercial capital Juba to advise on energy deals in the oil-rich country

PHAKAMISA NDZAMELA
Published: 2012/04/23 08:58:48 AM

Standard Bank Africa CEO Chris Newson has said: "We have been doing business and supporting the government of South Sudan since 2004. Given its independence, we thought it was an ideal opportunity to formalise that relationship and help contribute to the country’s development and growth."

The official opening of a significant branch and headquarters in Juba, South Sudan’s commercial hub, is expected in the next few days. Opening a branch and office in oil-rich South Sudan would give Standard Bank an opportunity to advise on energy deals in the new country and facilitate project finance on much-needed infrastructure.

"We are sensible corporate citizens. We have a reputation and financial interests to look after," Mr Newson said. The South Sudan branch will operate under the banner of Standard Bank’s Kenyan operation, CFC Stanbic Bank, he said. The plan is to leverage off the Kenyan banking infrastructure while the South Sudan banking system is being developed.

Standard Bank is the first southern African bank to move into South Sudan and after this entrée, the bank will have a presence in 18 African countries, including SA.

"We will leverage off the first-mover advantage. Hopefully, we will have a bit of a head start by moving in now," Mr Newson said. The opening in South Sudan forms part of the bank’s strategy to position itself as the banker of choice in Africa. Standard Bank, which is Africa’s largest bank by assets and earnings, said it had received all approvals allowing it to conduct retail and investment banking activities in South Sudan.

Standard Bank’s investment banking unit has expertise in the gas, oil and energy sector and has won awards for its expertise in this area of advice. "We certainly see oil and energy as a sector that we will be targeting, from advising and helping to get the projects up and running to getting the finance in place. It (South Sudan) is clearly strategic in the sense that it’s a new territory, a new country, and it has significant opportunities," Mr Newson said.

South Sudan got its independence from the Sudanese government in Khartoum last year. But although it is resource rich it has been affected by political violence over oil resources. On the question of risk, Mr Newson said Standard Bank thought carefully about where and how it invested. He said the bank carefully monitored the environments it operated in.

Mr Newson said Standard Bank was targeting greater scale in a number of countries, but particularly markets such as Nigeria and Angola. In Angola, Standard Bank has five branches and is looking at opening more. It got its Angolan licence 18 months ago. It has 514 branches in the rest of Africa, excluding SA.

Mr Newson said the bank’s strategy in Africa was not just about bricks and mortar, but more about the capital that needed to be deployed to get good returns. The plan for Africa is to grow organically, but it will also consider acquisitions if the right opportunity arises.
LINK (http://www.businessday.co.za/articles/Content.aspx?id=170235)

China offers South Sudan $8 bln development funding

JUBA, April 28 (Reuters) - China has offered South Sudan development funds of $8 billion for hydropower, infrastructure and agriculture projects, South Sudan's information minister told Reuters on Saturday.

"China has offered financial funding to the value of $8 billion for major development projects," Benjamin Barnaba said.

The projects will be conducted by Chinese companies, he said. (Reporting by Yara Bayoumy; Editing by Louise Ireland)

:banana: :cheers:

Reuters (http://af.reuters.com/article/sudanNews/idAFL6E8FS1D520120428?feedType=RSS&feedName=sudanNews)

I AM HAPPY FOR MY PEOPLE FOR CHANGE IS COMING! =D

China offers South Sudan $8 bln development funding

JUBA, April 28 (Reuters) - China has offered South Sudan development funds of $8 billion for hydropower, infrastructure and agriculture projects, South Sudan's information minister told Reuters on Saturday.

"China has offered financial funding to the value of $8 billion for major development projects," Benjamin Barnaba said.

The projects will be conducted by Chinese companies, he said. (Reporting by Yara Bayoumy; Editing by Louise Ireland)

:banana: :cheers:

Reuters (http://af.reuters.com/article/sudanNews/idAFL6E8FS1D520120428?feedType=RSS&feedName=sudanNews)

This is great news, I hope we see those projects come to life soon.

Great post Kulang :cheers:

Chinese Companies Interested in South Sudan: Kumba

By Monoja Anthony Maring ǀ 08.05.2012


The Minister of Housing and Physical Infrastructure in the government of South Sudan told journalists in her office yesterday that Chinese companies have shown great interest to invest in South Sudan.

http://www.thecitizen.info/wp-content/uploads/2012/05/nunuu.jpg

Jemma Nunu Kumba (picture above) said on their meeting with the Chinese delegation to South Sudan headed by Minister Wang Dong that they agreed to strengthen their relationship and support the ministry with both experts and resources needed to raise the standard of the country in terms of the style of buildings.

She added that the Chinese investors according to Wang Dong are coming to construct houses while others are coming to finance projects.

The Minister further said that Dong revealed that despite the current political situation the Chinese are optimistic that such issues can be sorted out easily and thus may not interfere with their interest in investing in South Sudan.

She also added that what is remaining from the Chinese is to design the projects, frames the terms and conditions which will be implemented to raise their goals.

Kumba further revealed to the delegation that South Sudanese citizens are peace loving that is why they are not fighting but urging the international community to find a peaceful way of solving the problems with Khartoum as well as to urge the international community to pressurize Khartoum to go for talks so that their differences can be sorted out peacefully.

She said that the Chinese investors are organizing to come on individual basis to study what is profitable to invest in and the areas.

Link (http://www.thecitizen.info/economics/chinese-companies-interested-in-south-sudan-kumba/)

HASS Country Manager Advises Public against Panic Purchase

By Susan Athiei Mangar ǀ 09.05.2012

JUBA – HASS petrol station Country Manager, Abdirizak A. Hussein yesterday advised clients against what he referred to as panic buying (Buying more than you need for the moment just to keep it for future) because that is what is aggravating the fuel crisis.

The moment fuel arrives people rush to fill their cars and fill some in jericans to keep in their homes, hence the little fuel that arrives does not solve the problem, also the dollars allocated to them as companies is not enough it can only cater for about seventy five percent (75%).

According to Hussein, seven trucks of fuel arrived in Juba yesterday from Kenya, four (4) petrol and the remaining three (3) diesel, adding that fourteen more trucks will arrive in today from Nimule out of which six (6) are of diesel and seven (7) petrol.

Also towards the end of this week, Abdirizak revealed that they would be loading twenty (20) more trucks. “We have initiated to load twenty more trucks which will come towards the end of this week”, he explained, and as understood from his explanation ten of these trucks will be containing diesel and remaining ten petrol.

Explaining what he meant by panic buying, Abdirizak said that now the consumption of fuel has doubled due to fear that there maybe no fuel therefore clients purchase twice or thrice their normal purchase in order to keep some in their homes or offices as reserve.

He also said that the Petroleum Association of South Sudan (PASS) recognizes all the petrol companies and allocates them with dollars to facilitate their purchase and it is through this that they are able to bring in fuel from Kenya.

In addition, Abdirizak sensitized the public against buying from those selling by the roadside because the price they are selling their fuel is exaggerated, and confirmed to the public that fuel prices have not changed at all, the liter still goes for 6SSP and that is the price those in black markets buy from them, therefore advised the public to be careful.

Furthermore he assured the public that the government, PASS and companies such as they are doing everything they can to ensure that the current situation is normalized.

Link (http://www.thecitizen.info/economics/hass-country-manager-advises-public-against-panic-purchase/)

Higer Bus Co. willing to Partner with Local Company

By Susan Athiei Mangar ǀ 19.04.2012

Higer Bus Company limited, located in the Suzhou area in China expressed interest to provide transport services to South Sudan if they can get a chance to partner with a local company. The Executive Director of the company Zhang Zhihao.

According to Zhizao, Higer Bus Company is capable of providing buses which are suitable for the rough road conditions of the new nation, adding that however, as the conditions change, his company will also be growing together with the changes.

He explained that they have very strong models of which are meant for conditions even much harsher than South Sudan’s current situation. He said that before providing services to their customers, they first carry out a research in the area; this enables them to provide the right kind of services suitable for that particular area.

Higer Bus Company specializes in manufacturing buses both for domestic and foreign use. The ones for domestic use are sold within China and international ones to the international market.

The company was established in the year 1998 and has a number of more than three thousand staffs.

According to the booklet issued to the South Sudan’s media delegation, the company is well known for its innovation and prevision in research and development, with a registered capital of 180million RMB (China’s currency), approximately 30million USD and annual production capacity of 22,000 units.

Link (http://www.thecitizen.info/economics/higer-bus-co-willing-to-partner-with-local-company/)

South Sudan Negotiates Loans as Oil-Output Halt Dents Economy

South Sudan is negotiating loans to boost the value of its currency and keep its economy afloat as foreign-exchange reserves decline after the country halted oil production, Deputy Finance Minister Marial Awou Yol said.

The East African nation has secured a $100 million line of credit from Qatar National Bank and will receive a $500-million loan within a month from an unidentified provider, Yol said in an interview in Juba, the capital, on May 8. Loans are also being sought from countries including China.

“We have oil in the ground, we can mortgage this oil for money,” Yol said. Lines of credit will be used to give importers access to foreign currency to buy goods including fuel, and future loans will allow the government to release dollars into the economy to fight inflation, he said.

South Sudan, which seceded from Sudan in July, halted oil output in January after accusing the Khartoum government of stealing $815 million worth of its crude from a pipeline to Port Sudan on the Red Sea. Sudan said it confiscated the oil to make up for unpaid fees. Crude sales accounted for 98 percent of South Sudan’s government revenue.

South Sudan’s inflation rate jumped to 50.9 percent in March from 21.3 percent in February, the country’s statistics office said last month. The South Sudanese pound, which officially trades at 2.95 per dollar, plunged to 5 per dollar on the black market from 3.5 in January, according to an April 27 report by Standard Chartered Bank Plc. (STAN)

“The current situation highlights the vulnerable position of the authorities because of an over-reliance on oil exports for foreign exchange,” the London-based lender said.
Read More (www.bloomberg.com/news/2012-05-10/south-sudan-negotiates-loans-as-oil-output-halt-dents-economy.html)

Bloomberg

South Sudan sets up new investment centre
By Julius N. Uma

May 14, 2012 (JUBA) - The Republic of South Sudan has established a One-Stop Shop Investment Centre (OSSIC) earmarked to facilitate quick and efficient processing of all the paperwork that investors need to start business in the country.

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Lars Thunell, IFC’s CEO cuts a tape to officially open the one-stop shop investment center in Juba, May 12, 2012 (ST)

Officially launched in Juba, the South Sudan capital on Friday, the facility will also serve as a customer care centre, where investors can come and seek assistance whenever they encounter difficulties in the business environment.

The investment centre, which officials say, will reduce business registration from 15 to 7 days, directly falls within the country’s ministry of commerce, industry and investment under the supervision and management of the director general of the investor services directorate.

“The one stop shop brings regulatory agencies together in a user friendly and efficient process for the issuance of investment certificates, licenses and permits as well as providing customer care services,” the ministry said in a release, adding that the OSSIC aims to offer a sound and effective investment climate in an attempt to position South Sudan as a major investment location in Africa.

The unique investment facility, further says the ministry, will operate as a single point of contact for all business transactions in South Sudan whereby the investor will only have to be in contact with one single entity to obtain all the necessary paperwork in a streamlined and coordinated process.

The OSSIC, according to documents seen by Sudan Tribune, seeks to guide investors through a step by step procedure to successfully register and implement their projects.

As part of the project, however, interested investors seek to benefit from pre-investment advice and counseling, processing of applications for investment certificates and relevant permits, including ensuring the required after care services.

(ST (http://www.sudantribune.com/South-Sudan-sets-up-new-investment,42594))

South Sudan joins membership of African Trade Insurance

May 16, 2012 (NAIROBI) – South Sudan, has joined the membership of the African Trade Insurance (ATI) agency which insures investment and political risks in the continent.

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South Sudan delegation at the ATI conference in Nairobi (ST)

Established in 2001 the billion-dollar multilateral financial institution provides export credit insurance, political risk insurance, investment insurance and other financial products to help reduce the business risks and costs of doing business in Africa.

ATI has membership of more than ten African countries including Kenya, which chairs it as well as international and regional financial institutions such as the World Bank, the African Development Bank and major companies in the private sector.

In 2011 alone, ATI was able to facilitate a 188 percent increase in trade and investment into Africa valued at over US$3.5 billion dollars, according to its annual report, with Kenya and Tanzania for instance, each received over US$1 billion dollars worth of trade and investment in vital projects such as energy, roads and water sectors.

In its 12th General Meeting on Wednesday in the Kenyan capital, Nairobi, ATI passed a resolution unanimously accepting the membership of South Sudan, in response to the application submitted to the institution in February this year.

The body provides sovereign guarantees to investors and removes the fear of business risks. In cases of political risks, it protects exporters, importers and investors from risks such as expropriation of investment, license revocation, forced abandonment, currency restriction, embargo or losses resulting from war or civil disturbance.

It also provides insurance protection against credit risks, political violence, terrorism and sabotage.

In his statement during the opening of the general meeting in Nairobi on Wednesday, the vice president of South Sudan, Riek Machar, stressed the importance of the organisation in the effort to attract investors in Africa. He explained that his country has huge potential for investment in the areas of agriculture, minerals, oil, wildlife and housing among others and commended ATI for accepting South Sudan into the organisation.

Machar was welcomed to the meeting by the vice president of Kenya, Kalonzo Musyoka, accompanied by the minister of commerce, industry and investment, Garang Diing and the deputy minister of finance and economic planning, Marial Awou.

The conference was attended by relevant ministers from all the member countries in Africa. During the meeting the Ethiopian government’s representative who sat as an observer expressed his country’s interest in applying for membership.

(ST)

REPUBLIC OF SOUTH SUDAN INVESTMENT CONFERENCE | London

Date: 16-Jul-12 to 17-Jul-12
Location: London Royal Garden Hotel / London / United Kingdom
Category: Agriculture, Farming & Forestry Aviation & Aerospace Banking, Finance & Investment Energy Environment Military Mining Real Estate & Property Management Shipping, Storage & Logistics Building, Construction & Architecture Engineering Security, Fire & Rescue Conferences & Trade Fairs Telecommunications

The world’s newest nation came into existence on the 9th of July 2011 after decades of brutal civil war, preceding six years peace accord that was signed in 2005. As this new nation rises from the ruins of protracted civil was, as it tries to heal the wounds of yesterday, a new dawn of optimism and hope awaits the entire people of South Sudan.

The primary aim of the conference will be to showcase various investment opportunities in the areas of mining & mineral resources, petroleum exploration and production, electricity generation, transmission and distribution, agriculture, tourism and infrastructures such as roads, railways, airports, hospitals, schools. It will also provide a unique opportunity to enlighten the international business community on the steps and strategies being pursued by the government in Juba to maintain and sustain political stability, ensure economic growth and guarantee investment.

Event website (http://rossinvec.com/pages/default.aspx)

US-based billionaires pledge to investment in South Sudan

May 23, 2012 (JUBA) – South Sudan may soon relax its austerity measures if the government reaches a breakthrough with companies owned by a group of US-based multi-billionaires who have expressed their readiness to invest in various sectors in South Sudan.

http://www.sudantribune.com/local/cache-vignettes/L500xH195/South_Sudan_VP_Dr-_Riek_Machar_meeting_with_US-based_billionaire_Dr-_Rubar_Sandy_Juba_May_21_2012_Sudan_Tribune_-e3b9d.jpg
South Sudan VP, Dr. Riek Machar, meeting with US-based billionaire, Dr. Rubar Sandy, Juba, May 21, 2012 (ST)

The visiting group of billionaires headed by Rubar Sandi of TSG-Southex company, on Monday arrived in Juba from the United States of America and met with the Vice-President, Riek Machar, in the presence of seven concerned ministers of the government during which they assured of their readiness to invest in the newly independent country.

The Vice-President’s Press Secretary, James Gatdet Dak, told Sudan Tribune that the billionaires wanted to invest in crude oil, housing, roads and airports construction, agricultural schemes, supply of essential commodities such as food items and fuel, among others.

The ministers who participated in the joint meeting which took place in the office of the Vice-President included Oyai Deng Ajak, Minister for National Security, Garang Diing Akuong, Minister of Commerce, Industry and Investment, Jemma Nunu Kumba, Minister of Housing and Physical Planning, Stephen Dhieu Dau, Minister of Petroleum and Mining, Agnes Poni Lukudu, Minister of Transport, Betty Achan Ogwaro, Minister of Agriculture and Forestry, Simon Mijok Mijak, Deputy Minister of Roads and Bridges.

The billionaires assured the government that unlike some other investors who look for funds elsewhere to finance their investments, the group has its own money ready to invest provided that it reaches an agreement with the government on the terms of investment.

The priorities of the various projects and the details of the agreements will be worked out with the respective relevant ministers for action.

The group also expressed readiness to buy at least five million barrels of crude oil a month from South Sudan, even at well head.

South Sudan last January accused Sudan of stealing its oil and shut down its production. The two countries have failed to reach a deal on oil transportation fee among others in their discussions related to the post-independence issues.

Oil is the main source of revenue for the new nation which took about three quarters of Sudan’s oil production after its independence in July 2011.

South Sudan has adopted the policy of attracting foreign investment to the 10-month old country in order to boost its economy, provide basic services to its populations and put in place non-existent infrastructure such as roads, airports and housing.

The situation has been exacerbated by the recent closure of oil production which was the sole source of the government’s annual budget by 98%. However, government officials assure that the situation will be managed without the oil revenues using other channels.

Juba has recently introduced austerity measures cutting government expenditure. This has seriously affected development projects. The government has, however, maintained the salaries for its civil service, and focused on food provision, as well as keeping schools and clinics open.

The Qatar’s government has also availed hundreds of millions of dollars to the Bank of South Sudan as a credit line for importing essential commodities which require hard currency, helping South Sudan to bring down slowly the rising rate of US dollar against the depreciating South Sudanese pound.

Juba has also introduced providing the Letter of Credit (LC) as the Bank’s guarantee to traders who import such commodities so that the demand for cash hard currency is reduced.

The government has also embarked on improving its weak tax collection system and developing other untapped resources such as gold, timber and Gum Arabic.

ST (http://www.sudantribune.com/US-based-billionaires-pledge-to,42677)

South Sudan sets up new investment centre
(ST (http://www.sudantribune.com/South-Sudan-sets-up-new-investment,42594))

Great, let's hope investments pour in

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The World Bank has concluded its annual peer to peer review of economies within sub saharan Africa, with South Sudan, passionately raising an invitation for key foreign direct investment.

Speaking at the convention in Kigali Rwanda's Capital, officials of the World's youngest nation emphasized that South Sudan, is currently setting up systems to support ease of doing business.

Establishment of Cooperative Bank approved

Lagu Francis | 25 May 2012 09:32



The Council of Ministers on Friday approved the establishment of Cooperative Bank of South Sudan.

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Marial Benjamin

The Council agreed that the bank will be a joint venture with the Kenyan Cooperative Bank. The report was presented to the council by the Minister of Agriculture and Forestry, Betty Ogwaro.

Speaking to journalists after the meeting, the Minister of Information Benjamin Marial said: "This is to provide products and services to the general public of South Sudan. It gives the Republic of South Sudan 49% and the Cooperative Bank of Kenya 51%".

Marial said after three years, the bank would give up some shares for members of the public to buy.

"Three years later, the Cooperative Bank of Kenya will give 11% of the shares to the general public and also the Cooperative Bank of South Sudan will be giving various cooperative banks in South Sudan some shares. This has been approved today."

The council has also approved the establishment of a national food strategy to address food shortages.

The strategy will spell out policies that would be used to deal with food insecurity and encourage agricultural development.

Miraya FM (http://www.mirayafm.org/index.php/economy-news/8573-council-of-ministers-approves-establishment-of-cooperative-bank)

KCB to open six more branches this year

JUBA, 7 June 2012 (NASS) - The Kenya Commercial Bank (KCB) will soon to open six more branches in the Republic of South Sudan this year. The retiring chairman of KCB Group in South Sudan, Eng. Peter Muthoka revealed this yesterday in his final remarks as the chairman KCB-South Sudan.


The six more branches to be opened will make a total of 25 branches to exist in the Republic of south Sudan.


Information and Broadcasting minister, Dr Barnaba Marial Benjamin said the idea of launching KCB branches across the ten states of South Sudan matches the SPLM vision of taking towns to the villages. Dr Benjamin, who was much impressed by the achievements of KCB, said the business has just started in South Sudan and many is expected especially from KCB.


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Dr Benjamin addressing the participants at the event.[Photo: Ajang Monychol]


He urged the business community to come in and participate in investment claiming that the necessary facilities are available and South Sudan is a free economy zone.


Meanwhile, the minister for Finance in the Central Equatoria State, Hon. Jacob Aligo appealed to the KCB marketing department to do enough on information sector to sensitize locals on the importance and benefits of the bank so that the little money they have they can benefit from. Hon. Aligo as well urged the bank to also improve its services to the customers and give loans to the locals.


Simon Akuei, the Secretary General of the Chamber of Commerce added the bank has also a role to extend its service in building real estate; not just banking.

(NASS)

Stanbic Bank expands into South Sudan

June 12 2012

CfC Stanbic Bank‚ a member bank of Standard Bank Group‚ on Tuesday officially cemented its footprint in the Republic of South Sudan with the official opening of its first branch in Juba‚ in a move aimed at supporting the country’s economic pillars.

The entry into the South Sudan market comes amid plans by CfC Stanbic Bank to raise additional capital through a rights issue to fund its growth strategy.

CfC Stanbic Bank’s presence in Juba marks a milestone in the Standard Bank Group’s involvement in South Sudan through the provision of relevant banking and finance services to the country.

CfC Stanbic Bank‘s Managing Director Greg Brackenridge said at the opening “We have a strong and long relationship with the people of South Sudan and its government and see our branch opening in South Sudan as a vote of confidence in the country’s future.”

Speaking at the launch‚ the Chief Executive Officer for Standard Bank Africa‚ Chris Newson‚ said that South Sudan’s natural resource potential was expected to drive strong growth and attract investments in the energy sector‚ infrastructure development and agriculture.

“Our entry into South Sudan is in line with our strategic plan to diversify into other markets in the region and further provides proof of our leadership position as the largest financial services organisation in Africa.”

President of South Sudan‚ Salva Kiir‚ who attended the opening‚ said the decision by CfC Stanbic Bank to invest in South Sudan was timely and would help develop the banking and financial services sector in the country adding that “as a government‚ we will continue to showcase the country’s natural resource potential which is attracting tremendous interest from investors from all over the world who are looking at the region as an emerging investment destination. The entry of CfC Stanbic Bank will greatly enhance the financial services offering available to the people of South Sudan.”

The bank will offer the entire suit of services available in conventional banking‚ while establishing relationships with the individuals‚ corporations‚ businesses and investors in South Sudan.

Africa’s biggest banking group in terms of assets‚ South African group Standard Bank operates in 18 countries on the African continent as well as in other selected emerging markets. It is 20% owned by Industrial and Commercial Bank of China (ICBC)‚ the world’s biggest bank in terms of assets.

Business Report (http://www.iol.co.za/business/international/stanbic-bank-expands-into-south-sudan-1.1317359#.T9fkpFI1VqA)

Edit...

Australia urges transparency in South Sudan’s mining industry

By Julius N. Uma

June 18, 2012 (JUBA) - South Sudan should expedite its mining legislation as a mechanism to address transparency accountability and proper management in the country’s mining sector, Tim Fischer, the special envoy to the Australian prime minister, said on Friday.

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Australia’s delegation to South Sudan, led by Tim Fischer, at a press briefing in Juba, 15 June 2012 (ST)

The existence of such a law, Fischer told journalists, will directly increase employment for the country’s citizens, generate extra revenue and enhance the provision of training needs to build the capacity of government employees.

“Your benchmark mining legislation of 76 pages is now almost through the Parliament and that will be a green light signal to the world that South Sudan is ready for responsible mining development,” Fischer told a media briefing in Juba, the South Sudan’s capital.

He described South Sudan as one of the “most exciting” provinces in the world in terms of its mineral potential, adding that the Australian government will provide a great deal of “practical” assistance through provision of short courses as well as supporting South Sudan’s bid to join the Extractive Industry Transparency Initiative (EITI) and Mining for Development Initiative (MDI).

Australia, Fischer said, is the second largest world producer of minerals such as gold, iron, uranium and diamonds. At least 240 Australian companies are reportedly operating throughout Africa continent, he said.

An estimated $29m has been earmarked by the Australian government to boost South Sudan’s mining, agriculture and health sectors this year. In the last few months, however, Australia also extended $12m for humanitarian assistance in the world’s newest nation.

Elizabeth James Bol, South Sudan’s deputy minister for petroleum and mining lauded what she described as the strong partnership between Australia and South Sudan calling for further technical cooperation and economic development between the two nations.

Acknowledging South Sudan’s huge economic potential, Bol said enactment of the Mining Bill will foster the government’s efforts in improving the industry, through capacity building of staff capacity, improving accountability and fighting corruption.

“Once we have the mining laws in place and with the support from the Australian government, we shall be able to come up with actions plans that help us develop the mining industry so the social services are provided to our people,” she said.

The Australian government has announced plans to send a strategic mineral advisor to South Sudan’s petroleum and mining industry. The proposed advisor, earmarked from the Adam Smith International will reportedly help the government in drawing up action plans, help arrange study tours, and assist in dissemination of the mining laws.

(ST)

Brewer toasts success in South Sudan

22 Jun 2012 10:42 | Benon Herbert Oluka

When South Sudan marks the first anniversary of its independence from Sudan on July 9, SABMiller will be raising a glass to a milestone of its own.

By the time South Sudan gained autonomy from Sudan after nearly two decades of war, a subsidiary of SABMiller, the Southern Sudan Beverages Limited (SSBL), had already clocked two years of operations. SABMiller was the first multinational manufacturer to venture into South Sudan and SSBL began operating in May 2009 with an investment of $37-million in a state-of-of-the-art brewery in the capital Juba.

Ian Alsworth-Elvey, SSBL managing director, said in a recent interview that its early entry into the South Sudan market, at a time when it was considered risky to invest in a country sitting around the bottom of nearly every global development index, eased its way into the hearts of the locals.

“We are always going to be seen as that friend who helped South Sudan in a time of need,” said Alsworth-Elvey.

SSBL provides direct employment at its factory for at least 300 South Sudanese nationals. When the indirect beneficiaries are included, Alsworth-Elvey estimates that the company provides a source of livelihood for between 8000 and 10000 South Sudanese.

A significant contributor

“We pay value-added tax, excise duty, personal income tax for our employees, so we have become a significant contributor to the coffers of the government of South Sudan,” he said.

Last year, as part of an effort to encourage local production of raw material, SSBL sponsored a project to cultivate cassava on a commercial scale. The company reaped the first rewards early this year and Alsworth-Elvey estimates that it will provide a source of income for at least 2000 cassava farmers from three regions of South Sudan.

For SABMiller, which successfully launched a similar beer from locally produced cassava in Mozambique, this will lead to a massive reduction in production costs. Without locally produced cassava, SSBL imported its raw material from Europe at a high cost. It cost the company an average of $2000 to ship a container of raw material to Mombasa and then four times as much to transport it to Juba.

That was only one of the many problems SSBL encountered initially. South Sudan does not generate electricity and the brewery has to produce its own. In addition, corruption was rampant, skilled labour lacking and a transport network nonexistent in a country about half the size of South Africa.

“When we started our investment there was very little legal framework that governed investment,” said Alsworth-Elvey.

The country’s potential

Within two years of setting up in Juba, SSBL was confident enough of the country’s potential to announce in April last year that it would invest an additional $15-million to increase its capacity and build on its “strong brand performance”.

Besides beer, SSBL produces soft drinks and water products.

With SSBL having shown that South Sudan is open for business, the government is intensifying its efforts to attract more foreign investment. In March, the government partnered with private investors already in the country and organised an investment summit that is reported to have attracted at least 400 investors.

Investments already taking place include those in oil production, cellular networks operating companies, hospitality, the banking sector, industrial development and airlines.

“I think the economy in Southern Sudan has grown and it will continue to grow,” Alsworth-Elvey said.

Link (http://mg.co.za/article/2012-06-22-sts-success-in-south-sudan)

Company interested to invest in South Sudan

Thursday, 21 June 2012 | Muna Tesfai

The President of the Nord Chemi International Company - Branko Ostojic, told the Vice President that the company is interested in opening up a cement factory in Juba and also entering into a joint housing project with the Central Equatoria State government.

Link (http://www.mirayafm.org/index.php/south-sudan-news/8777-nord-chemi-company-intereted-to-invest-in-south-sudan)

International ad agency eyes South Sudan

Dinfin Mulupi | June 25, 2012

Advertising group TBWA is planning to open an affiliate agency in South Sudan as part of its expansion in east Africa amidst the rapid growth in marketing spending in the region and the entry of multinational firms.

TBWA set up its Kenyan office in February and launched in Tanzania in June. It also has a presence in Uganda, as well as partnerships in Rwanda, Ethiopia and Burundi.

“Our clients have moved there [South Sudan], like Stanbic Bank, and we want to be on the ground to serve them better. We are also going to increase our office presence in the east Africa countries,” said Tim Smyth, CEO of TBWA East Africa.

More Here (http://www.howwemadeitinafrica.com/international-ad-agency-eyes-south-sudan/17734/)

South Sudan will join African Development Bank

Wednesday, 27 June 2012 09:19 Muna Tesfai

The cabinet economic cluster committee has endorsed a proposal for South Sudan to join the African Development Bank.

http://www.mirayafm.org/images/stories/webphoto/flags_logos/African_Bank.jpg

In its meeting on Wednesday; the committee deliberated the advantages and disadvantages of being a member of the Bank and resolved that the new nation stands to benefit from membership.

The meeting chaired by the Vice President, Dr. Riek Machar Teny, highlighted benefits such as access to funding for development projects as well as assistance in mobilizing funds from the International community.

The meeting resolved to present the proposal to the council of ministers for approval.

Link (http://www.mirayafm.org/index.php/economy-news/8821-ssudan-assesses-merits-of-join-african-development-bank)

South Sudan looks to China for model of growth

By Qin Zhongwei (China Daily) | 2012-07-10 08:08

China's economic miracle and rapid growth during the past 30 years is a good example to learn from, South Sudan's new ambassador to China said on Monday.

Eluzai Mogga Yokwe, who arrived in Beijing over the weekend, spoke to China Daily on the first anniversary of his country's independence.

Given that China took three decades to transform itself into the world's second-largest economy, "I wonder how long it will take us to develop. We definitely can learn something from China," Yokwe said.

China began to send teams of doctors to what was then the southern part of Sudan in the 1970s. The country has more than 3,000 Chinese there now, the ambassador said. An increasing Chinese presence is touching local people's lives through telecommunications, hotels and restaurants.

"The friends who come when really need help are true friends," he said.

Chinese companies are also involved in the building of South Sudan's infrastructure, the young nation's biggest priority, Yokwe said.

Meanwhile, the South Sudan people still hold on to their faith and pride as their country is blessed with many riches not yet developed -not only the oil, but also the agriculture potentials and mineral resources such as gold, Yokwe said.

South Sudan also is seeing more international cooperation and support in areas such as clean-water production and education, not just with China, but also the United States, Britain and Egypt, among other countries, he said.

And South Sudan's admission as a member of the African Union last year not only ensures the country won't be "left out", but also helps it to be more involved in the affairs of the continent, Yokwe said.

South Sudan's foreign minister is scheduled to come to Beijing later this month to attend the 5th Ministerial Conference of the Forum on China-Africa Cooperation, which will be from July 19 to 20. It will be the first time South Sudan participates in the forum.

One year after South Sudan's separation from Sudan, relations between the two countries are bleak. South Sudan stopped pumping its oil through Sudan earlier this year because of a disagreement over the charge to export South Sudan's oil through Sudan's pipeline.

But Yokwe is optimistic about achieving a peaceful resolution to the current deadlock, as both sides want peace and "we can all benefit from the oil". And he noted the bilateral negotiations are still going on.

"Problems created by human beings can also be solved (by human beings), as long as if you can sit down together and talk to each other," he said. "You can always find a solution."

China will definitely play an important role in the mediation as a good friend of both Sudan and South Sudan, he added.

Link (http://usa.chinadaily.com.cn/epaper/2012-07/10/content_15565014.htm)

Kenyan bank targets S. Sudanese Diaspora

By Julius N. Uma

July 18, 2012 (JUBA) - In a bid to promote international banking, KCB Bank South Sudan has officially launched Diaspora banking, an initiative targeting South Sudanese nationals currently living outside the world’s newest nation.

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Martha Nyaliet Chol, South Sudan Manager for KCB Diaspora banking (L) with another staff member, July 16, 2012 (ST)

To enhance the new banking initiative, a team, led by the Group’s Chief Executive Officer (CEO), Martin Oduor-Otieno and Martha Nyaliet Chol, the South Sudan Manager for KCB Diaspora banking is currently visiting the London Olympics village in the UK, to promote the new product.

In an interview with Sudan Tribune on Monday, Chol appealed to all the South Sudanese in the Diaspora to fully utilise this unique opportunity by opening accounts with East Africa’s largest commercial bank, which currently operates branches in all over the 10 states of South Sudan.

“These accounts will help individuals remit money to South Sudan with ease and through KCB, they can still be able to invest in development projects such as housing where the bank currently offers free management and investment advice,” she said.

According to Chol, the Kenyan bank, which officially started operating in South Sudan in May 2006, still has competitive advantage within the banking industry in the country, given the wide range of services it offers, its presence in all the 10 states and strong customer base.

The bank has, as part of the new initiative, also introduced what is known as “KCB Diaspora Junior account”, which helps parents teach their children on how to save for the future. A customer operating with Diaspora Junior account will also benefit from the annually paid interests, in addition to accessing electronic banking facilities provided by KCB, among other benefits.

Meanwhile, the KCB Diaspora Junior account will automatically graduate to a KCB Diaspora transaction account once the child turns 18 years old.

The new initiative is an addition to the successful establishment of the KCB cross-border financial platform; a mechanism that has facilitated regional trade by ensuring its clients across East Africa access easy banking services, through internet and mobile banking.

Since it opened its doors in South Sudan, KCB has expanded rapidly to a level where it reportedly controls 42 per cent of South Sudan’s banking industry, comprising of 19 branches spread all over the country and employs 350 staff, of which 80 per cent are South Sudanese.

Currently, the Kenyan bank reportedly has over 85,000 clients all over its South Sudan branches.

(ST (http://www.sudantribune.com/Kenyan-bank-targets-S-Sudanese,43296))

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South Sudan: Parliament Agrees On 6.6 Billion-Pound Austerity Budget


22 July 2012 | Press release

Juba — The National Legislative Assembly has unanimously agreed on 6.6 billion austerity budget for the year 2012 - 2013. This was arrived at last week in their process of fourth reading.

The minister for Finance and Economic Planning, Hon Kosti Manibe Ngai who attended the session said this budget may affect some government institutions according to government priorities but urged the affected institutions to adapt to go new realities.

He explained that basic services are safe from these measures adding that finance and economic committee has made significant progress in the preparation of the budget disclosing that there is an amount of 256,778,187 pounds as reserved for budget support.

He as well revealed that the finance and economic committee has recommended that there is a need to change in the nearest future the Sudanese financial form 15 with the new one in addition to the adoption of stamps used by the government official in private management like nationality and immigration.

Professor Paul Logale, the chairperson of finance and economic development in the assembly said parliament must guide the Ministry of Interior to develop a system of collection at border point and airport using stickers in visa procedures instead of stamps which he said is most corrupt.

On the other hand, he suggested that the committee should limit the number of cars benefiting from government fuel to determine the number of cars limited in each ministry but the parliament preferred the matter be discussed.

Most importantly, the austerity budget did not affect the budget plan of ministries like ministry of health, education, defense and security. In his recommendation to the parliament, the chairman of the economic and finance committee called on the parliament to pass the budget for the conduct of government activities especially in the areas of basic services.

However the parliamentarians appealed to all the ministries to abide by all the articles in the budget without exceeding its ceiling.

Abraham Malek, NASS

Signing of First Grant Agreements with the Republic of South Sudan



–Contributing to the Socioeconomic Development of the New Nation through Infrastructure Improvements in the Capital of Juba–

Signing ceremony (Left: Prof. Elias, Deputy Minister for International Cooperation, South Sudan. Right: Mr. Hanatani, Chief Representative of JICA South Sudan Office , the Japan International Cooperation Agency (JICA) signed Grant Agreements (G/A) with the Government of the Republic of South Sudan (hereinafter referred to as South Sudan) to provide grants for three projects: the Project for the Improvement of Water Supply System of Juba in South Sudan (grant limit: 3.869 billion yen), the Project for Improvement of Juba River Port (Detailed Design)(grant limit: 75 million yen) and the Project for Construction of Nile River Bridge (Detailed Design)(grant limit: 131 million yen). These are the first Grant Agreements signed between Japan and South Sudan, which became independent in 2011.

Since the signing of the Comprehensive Peace Agreement (CPA) between Northern and Southern Sudan in 2005, the capital of Juba has rapidly increased in population, rising from 160,000 people in 2005 to about 400,000 in 2009, due to an influx of returnees and other factors, and the population is expected to continue to grow. Long years of civil war and other circumstances, however, have left the urban infrastructure of Juba fragile, and making improvements is an urgent task. For the purpose to "consolidate peace," the Government of South Sudan requested the Japanese Government and JICA to assist the above three projects, because Japan had been engaged in the area of urban planning and infrastructure restoration in Juba.


Children gather for water at a public tap stand built with previous JICA cooperation.
The Project for the Improvement of Water Supply System of Juba in South Sudan aims to expand the facilities at the Juba water treatment plant, as well as construct new water delivery pipelines and new water supply system (eight water tanker feeding stations and 120 public tap stands), which will increase the water access rate in Juba from the current coverage of about 8 percent to at least 50 percent.

In preparation for the Grant Aid in 2010, JICA began implementation of the Project for Management Capacity Enhancement of Southern Sudan Urban Water Corporation, a Technical Cooperation Project aiming to increase the capacity of the Urban Water Corporation to manage and operate the Juba water treatment plant. The two projects are being coordinated and are expected to improve the water supply infrastructure in Juba.

The Project for Improvement of Juba River Port (Detailed Design)is a project to improve the Juba River Port, which is a major port in River Nile. In South Sudan where many domestic arterial roads are unimproved, river traffic on the Nile functions an important distribution route. With the development of South Sudan, the Juba River Port has seen a tremendous increase in the freight volume handled in recent years. Through this project, JICA will construct a 200-meter pier and landing equipment that includes a 120-ton crane, will provide stevedoring, storage and management facilities, and will procure materials and equipment to enhance the port's functions and improve safety. The Grant Aid will be provided for detailed design work for the construction. Once the detailed designs are complete, the Juba River Port expansion is planned to move forward.


The current Juba River Port. With the exception of a portion of the port previously improved by JICA, cargo vessels must come ashore and cargo must be unloaded manually.
In preparation for this, in 2011 JICA began implementation of the Project for Enhancement of Operation and Management Capacity of Inland Waterway in Southern Sudan, a Technical Cooperation Project to strengthen the capacity of the Juba River Port Administration. The overall objective going forward is to produce a synergistic effect through assistance that will strengthen the functions of the port and its management system.

The Project for Construction of Nile River Bridge (Detailed Design)is a project for constructing a new bridge on the arterial road connecting Juba to Kenya and Uganda. This is expected to improve the transportation capacity of the primary distribution route for South Sudan. Currently, a temporary structure, the Juba Bridge (the only bridge across the Nile in South Sudan) spans the Nile River for the arterial road, but the bridge is markedly deteriorated and the road route creates urban congestion, so that JICA has conducted a study to improve both problems with the construction of the new bridge. The Grant Aid will be provided for detailed design work for the construction of the Nile River Bridge, and once the detailed design work is complete, the construction is scheduled to move forward.


The current temporary Juba Bridge
Also, since 2011, JICA has worked on improving the capacity to maintain and manage roads, including the road that connects to the Nile River Bridge, through the Technical Cooperation Project for Capacity Development on Sustainable Road Maintenance and Management in Juba.

As fields of assistance for South Sudan, JICA has a focus on "Assistance for Building New Nation", "Assistance for Basic Human Needs (BHN)" and "Assistance for Food Security". Among those fields of assistance is a particular emphasis on the development of basic infrastructure, which is the cornerstone of nation building, along with strengthening the capacity of human resources and organizations to support that infrastructure. Utilizing a range of assistance methods, JICA will continue to provide assistance to the new state of South Sudan.

Reference

Project (in Japanese) Grant limit Coordinated technological cooperation
The Project for the Improvement of Water Supply System of Juba in South Sudan 3.869 billion yen Project for Management Capacity Enhancement of Southern Sudan Urban Water Corporation
The Project for Improvement of Juba River Port (Detailed Design) 75 million yen Project for Enhancement of Operation and Management Capacity of Inland Waterway in Southern Sudan
The Project for Construction of Nile River Bridge (Detailed Design) 131 million yen Technical Cooperation Project for Capacity Development on Sustainable Road Maintenance and Management in Juba

Equity Bank Opens in Kajo-Keji


Equity Bank South Sudan has opened a new branch in Kajo-Keji County in Central Equatoria State.

http://www.gurtong.net/Portals/0/GlobalResources/EN/images/Editorial/EquityMinEDT.jpg


Link (http://www.gurtong.net/ECM/Editorial/tabid/124/ID/7409/Default.aspx)

S. Sudan to build football stadium in Lakes state



August 2, 2012 (JUBA)- South Sudan on Thursday said it planned to build its first ever modern football stadium in the Lakes state capital, Rumbek.



The government made the pledge during an official function marking the opening of the first intra-schools competition which started in Rumbek on Thursday. The event, which drew school teams from across the nation, was attended by government officials who highlighted South Sudan’s interest in joining the world of international sport.

South Sudan was admitted to the Confederation of African Football in February and the International Federation of Association Football (FIFA) in May. Most recently the team drew 2-2 against Uganda in a match held in Juba in May.

“We will build the first modern football stadium here; the minister of youth and sports is determined to do it. The government is determined to build it”, vice president Riek Machar said at the event.

He also commended the success of the South Sudanese army, the Sudan People’s Liberation Army (SPLA) whose volleyball team which won a trophy in an East African tournament.

He said that the South Sudanese people “have the potential” for sporting success, suggesting it could be because “we have the tallest people” or due to generations of people herding cattle. He acknowledged that additional training and investment would be required.

Physical education teachers and stadiums would be required for sporting progress to be made, explained Machar.

Since refusing to run for Sudan, marathon runner Guor Marial will run at the London Olympics without the flag of his nation, as South Sudan is yet to establish the prerequisite National Olympic Committee.

South Sudanese Lopez Lomong will run the Olympic 5,000m for the United States, where he sought asylum in 2007.

Western Bahr el Ghazal state minister of youth and sports, Anyar Anyar, on Thursday told Sudan Tribune that sport has the potential to dissuade people from tribalism and to promote peace and unity.

Machar also announced that the second anniversary celebrations of South Sudan’s independence would be celebrated in Lakes state.

(ST)

^^ Thanks...but, that news should be in South Sudan Sport thread.

Significant rise in tax revenue: customs officials

Thursday, 09 August 2012 09:47

Customs officials at the Nimule border point have registered an increase in the amount of money collected in importation taxes.

Speaking to journalists, the Acting Director of Customs Duty in Nimule, Emanuel Goya did not reveal the amount of previous collections but said the figure has gone up to as much as 30 million SSP for goods being brought into the country every month.

Emanuel Goya said the increment is partly a result of the reorganization of the tax department by the national government.

The Director made the revelation during the visit of a delegation led by the Under Secretary for the Ministry of Commerce, Trade and Investment, Simon Nyang Anai.

The team visited the custom office to assess its operations.

Link (http://www.mirayafm.org/index.php/economy-news/9224-there-significant-rise-in-taxes-revenue-says-customs-official)

^^ :cheers:

uw8IwtuGkro

uJqA41rJoAQ

S.Sudan Says China to Help Build New Airport in Juba
(WCARN.com/Reuters, Aug. 17)

South Sudan said on Friday China would help build a new airport in the capital Juba, completing a project that has highlighted the government's struggle to execute infrastructure projects.

South Sudan has been trying to build up efficient state institutions and start development despite netting in billions of dollars in oil revenues since a 2005 peace agreement with Sudan.

The government had planned to have a new airport terminal ready for independence celebrations in July 2011 but works have been hampered for years by funding problems and poor planning.

more: http://www.wcarn.com/cache/news/20/20916.html

^^ :cheers:

South Sudan seeks international firm to run new airline

By Mading Ngor

JUBA | Fri Aug 24, 2012 5:50am EDT

(Reuters) - The world's newest nation South Sudan is looking for an international company to help run its nascent national airline in a public-private partnership and hopes to choose a firm after about a month, a senior transport official said.

"We're going to develop a public-private partnership in order to establish a South Sudan airline ... It will be run commercially by an international, reputable company," Deputy Minister of Transport Mayom Kuoc Malek said in an interview.

"This project is a priority because as a landlocked country we need to reach the outside world, and the best way to reach the outside world is to have an aviation industry which is efficient," he said.

The government plans to take a 20 percent stake in the airline, sell 31 percent to the domestic private sector and 49 percent to international investors.

Malek said a committee planned to review tenders from companies and select one after about a month.

"There are companies which have shown interest, but we have to advertise to get more," he said. "We'll go for modern planes, the Boeings, the Airbuses, and also other suitable aircraft which can operate in the Republic of South Sudan."

The new country will also need to bring in experts to help set up the airline, he said. He did not say how long it might take to get the airline running or name any of the potential investors.

The biggest carriers in the region include companies like Kenya Airways (KQNA.NR) and Ethiopian Airlines. South Sudan said last week China would provide a $158 million loan to help finish a new airport in Juba.

The work will be done by Chinese companies and supervised by South Sudan's transport ministry, Malek said.

"Once we're satisfied, we tell the minister of finance ... to tell the Chinese Axim Bank that this part of work has been done, you pay that company," he said.

More: Reuters (http://www.reuters.com/article/2012/08/24/uk-southsudan-aviation-idUSLNE87N00C20120824)

IMF says South Sudan eligible for concessional lending

Bikya Masr Staff | 27 August 2012 | 0 Comments

CAIRO: The International Monetary Fund (IMF) announced on Monday that South Sudan was now eligible for concessional lending after having joined the global financial body in April this year.

“The decision was taken on August 9, 2012, on a lapse-of-time basis,” the IMF said. “Including South Sudan, 72 low-income countries are now eligible for concessional lending, which the IMF provides via the Poverty Reduction and Growth Trust (PRGT) and which currently carries a zero interest rate on its loans.”

“Eligibility for PRGT lending is based on a member country’s annual per capita income and ability to access international financial markets on a sustainable basis,” the IMF continued.

“Adding South Sudan to the list of PRGT-eligible countries allows the authorities to request concessional financing from the IMF in support of their economic program; such requests are subject to separate decisions by the Executive Board.”

BM (http://www.bikyamasr.com/76420/imf-says-south-sudan-eligible-for-concessional-lending/)

South Sudan adopts Kenya’s insurance regulatory system

By JOHN NJIRU | Monday, August 27 2012

In Summary

Country says it has a lot to learn from the local underwriting business but will effect model starting with the crucial bits

Major insurance companies in the region are eyeing the country with intentions of opening up shop

Students aspiring to join the regulatory authority will undergo training at Kenya Re-Insurance, Africa Re-Insurance and Zep Re-Insurance

South Sudan has adopted Kenya’s insurance regulatory system to grow the industry in Africa’s youngest state.

And the man tasked with the job of overseeing the shift said that after studying the local system, what remains is its implementation — a task he contents will be a tall order for his country.

“I was given the autonomous authority to search for a commendable supervisory board, and the Kenyan model has impressed me. I will submit the recommendations to the government for adoption,” said managing director of South Sudan Insurance and Re-Insurance Company Daniel Kier.

He noted his country will implement the model starting with the crucial segments.

“It must have taken years for IRA to reach where it is today. It has an efficient model which can guide our insurance industry if adopted. We will use some of those regulations before adopting the full system,” said the managing director in an interview with Smart Company.

After South Sudan gained independence in July last year Mr Kier, who lectures at Australia’s Monarch University, was recalled by his government to restructure the insurance business.

Following separation, major state institutions also took the same route. Sheikhan Insurance and Re-Insurance were some of those that were equally distributed to the two nations.

“It was a bold move but the government did not want to associate itself with the Sheikhan again,” he said.

Mr Kier felt that it was against trade principles when the government’s parastatal was also the licenser to its competitors. “I advised the government to come up with a supervisory board, an autonomous one that would regulate all insurance activities in the country,” said Mr Kier.

This saw the birth of SSIR.

In Kenya, Mr Kier signed a pact with the College of Insurance where students who are aspiring to join the regulatory authority will undergo training. They will undertake practical courses in Kenya Re-Insurance, Africa Re-Insurance and Zep Re-Insurance where they are expected to gain basic skills in underwriting.

Mr Kier expressed optimism in his country’s insurance sector noting that challenges of language, base capital and technical expertise would be tackled if the partnership between the two countries bears fruit.

Major insurance companies in the region are eyeing the country with intentions of opening up shop. UAP, New Sudan, Sheikhan, National and Savannah Insurances are some of the firms that have already set foot in South Sudan.

In May this year, South Sudan joined the African Trade Insurance (ATI), a continental agency that offers investment and political risks underwriting to its nine member states.

More: Here (http://www.nation.co.ke/Features/smartcompany/South+Sudan+adopts+Kenyas+insurance+regulatory+system/-/1226/1488180/-/item/0/-/si91r8z/-/index.html)

9VCygqXGTA4

South Sudan open for business – Minister

By: Esmarie Swanepoel | 31st August 2012

PERTH (miningweekly.com) – Africa’s newest country, South Sudan, was officially open for business, Petroleum and Mining Deputy Minister Elizabeth James Bol told the last day of the Africa Downunder conference.

South Sudan was established when it broke away from Sudan on July 9 last year, and covers some 650 000 km2.

James Bol noted that while a moratorium to suspend all mining and exploration activities had been ongoing since 2010, the country was working on a Mining Bill, which would be enacted into law.

The Mining Bill would be tabled for its third reading in the National Legislative Assembly in October, and currently comprises 22 Chapters with 182 Articles.

While little prospecting has been carried out so far, the country was thought to have significant mineral potential.

“The detailed geology and mining in South Sudan is poorly known and little minerals exploration has so far taken place,” said James Bol.

“The general geological setting gives good reason to believe that significant mineral deposits wait to be discovered, and consequently that the minerals sector has the potential to become an engine for economic growth,” she said.

Resources currently being extracted in the country included gold, diamonds and marble, as well as talk, clay and silica.

James Bol added that the Ministry was planning to further develop the mineral resources sector to contribute to the national economy, by partnering with companies to carry out airborne geophysical surveys, regional and detailed geological, geochemical and geophysical mapping of the area, as well as regional exploration, capacity building and the acquisition of geological tools and equipment.

“The region is virgin in terms of mineral exploration and prospecting, and geological investment in South Sudan is limited,” she said.

James Bol noted that the most immediate opportunities for investors were in the oil and gas sectors, with refineries and pipelines a key focus area.

Link (http://www.miningweekly.com/article/under-explored-south-sudan-open-for-business-minister-2012-08-31)

Juba should open up a river port somewhere in the city.. Making trading even easier with the great lake states

Juba should open up a river port somewhere in the city.. Making trading even easier with the great lake states

There is a port......But, the river is nearly impassable, south of Juba.

There is a port......But, the river is nearly impassable, south of Juba.

I see, Are the dams making it impassable or is it natural barriers??

I see, Are the dams making it impassable or is it natural barriers??

Both features....

South Sudan pound rises after Qatari bank import deal

By Mading Ngor

JUBA | Thu Sep 6, 2012 12:38pm EDT

(Reuters) - South Sudan's currency has risen against the dollar on the key black market, its first gain since January after the government reached a deal with a Qatari bank to provide dollars needed for imports, dealers and officials said on Thursday.

The South Sudanese pound (SSP) has lost sagged against the dollar since the government shut down its oil production in January in a row with Sudan over export fees.

Oil contributed 98 percent of state revenues and was practically its only source of foreign currency. One of the world's least developed countries, South Sudan needs to import almost everything from food to consumer goods.

The SSP had been trading at a rate of 5 or more against the dollar until this week as import firms scrambled to get their hands on the greenback. In January, the rate was 3.55.

But on Thursday, traders on the black market quoted rates between 4.3 and 4.4 after the central bank won support from the Qatar National Bank.

Commerce Minister Garang Diing Akuong said the Qatari bank had agreed to fund imports worth $100 million in hard currency.

Qatar National Bank is one of the few foreign banks active in South Sudan. It mainly focuses on arranging deals to fund imports.

"Many traders who used to go and buy dollars from the black market have now turned to use the credit line that the government has established between these two banks, the Bank of South Sudan (central bank) and Qatar National Bank," he said.

Hopes for a restart of oil output were also supporting the pound. "Those who hoard the dollars in the black market feared that the dollar rate might drop once the production and the exports start," Akuong said.

South Sudan is currently in talks with Sudan in Ethiopia to reach a border security deal required by Khartoum to restart oil exports though northern pipelines.

Last week, the government oil production might need up to six months after a final deal fees with Sudan. The dollar scarcity drove up annual inflation to 60.9 percent in July.

Link (http://www.reuters.com/article/2012/09/06/us-southsudan-pound-idUSBRE8850WX20120906)

South Sudan inflation eases to 43.3 pct in August

JUBA, Sept 10 (Reuters) - South Sudan's annual inflation eased to 43.3 percent in August from 60.9 percent in July as food costs eased slightly, official data showed on Monday.

Inflation had been on the rise since landlocked South Sudan shut down its oil production in January to protest against seizures of its oil by Sudan through which it needs to export its crude.

Oil makes up 98 percent of state revenues in one of the world's least developed countries.

Month-on-month inflation was unchanged in August compared to July, the National Bureau of Statistics said in its monthly bulletin.

Costs for food and non-alcoholic beverages fell by 1.2 percent in August compared to July, the data showed. But the cost for housing and water rose by 30.7 percent in August.

Food makes up 71.39 percent of the inflation basket.

The South Sudanese pound has sharply fallen since oil revenues dried up. But it recently regained some ground after the central bank signed a $100 million agreement with Qatar National Bank to help fund imports.

South Sudan needs to import most of its food as it has no sizeable industry outside the oil sector.

Link (http://www.reuters.com/article/2012/09/10/southsudan-inflation-idUSL5E8KAIWI20120910)

S. Sudan Central Bank reserves can last five years: Governor

By Julius N. Uma

September 11, 2012 (JUBA) - South Sudan’s Central Bank has sufficient reserves of local currency, capable of running the country for the next five years without printing any money, Kornelio Koriom, its Governor said Tuesday.

http://www.sudantribune.com/local/cache-vignettes/L500xH334/central_bank_governor-2b508.jpg
Kornelio Koriom, South Sudan’s Central Bank Governor addresses journalists in Juba, 11 September 2012 (ST)

The Governor, who preferred not to disclose how much South Sudan has in reserves, said the Central Bank still has enough money kept in portions within its branches in Malakal (Upper Nile), Wau (Western Bahr el Ghazal) and Yei in Central Equatorial State.

“We are not running out of cash. It is only what has to be circulated within the rules of the Central Bank and controlled by the Finance ministry that can be talked about [but] not what is in the bank,” he told a press conference in Juba, the South Sudan capital.

Koriom likened the government spending in the wake of the current austerity measures, to family expenditures, saying even a father plans for his family in a crisis situation.

“We are still able to operate for the next five years without printing more money,” he told journalists at a briefing held at the bank’s premises.

The Central Bank Governor also described as “careless” and “nonsense” talks that South Sudan’s economy was at the verge of collapse, perhaps in reference to the leaked World Bank report, which Sudan Tribune reported about in June.

“What will make this country’s economy collapse? We have enough resources capable of supporting this economy,” he said.

(ST)

Equity Bank Opens Branches In Eastern Equatoria State

Peter Lokale Nakimangole |14 September 2012

Equity Bank South Sudan has opened new branches in Torit and Nimule towns in Eastern Equatorial State. Torit Branch Manager Michael Gatura has informed the branches have already been opened to the public as they await the official inauguration.

http://www.gurtong.net/Portals/0/GlobalResources/EN/images/Editorial/Equity%20Bank%20South%20Sudan%20Torit.jpg

Front view of Equity Bank South Sudan branch at Torit, Eastern Equatoria State. The branch opened its doors to the customers in July 2012. [Gurtong]

Trucks loaded with goods arrive from Sudan

Thursday, 13 September 2012

More than seventy trucks loaded with goods for sale in South Sudan have arrived in Renk, Upper Nile State.

http://mirayafm.net/images/stories/webphoto/people/AtpgD3XCQAAls4z.jpg

The trucks have been brought in by traders following an announcement by Sudanese leader Omar al Bashir to temporarily open up the borders.

The announcement was made last Friday, as part of an agreement between the Juba and Khartoum government's to allow repatriation of South Sudanese wishing to travel home using river transport.

Speaking at the opening of the Juba-Nimule road on Wednesday, President Salva Kiir said the opening of the borders will promote business and reduce scarcity of commodities.

"Seventy trucks arrived in Renk just in the first day, what do you think would happen if the other border roads leading to Abyei to Awil and Gograil to Wau if there're all opened? Everything will be there. We were not taking their goods for free; we give them money and take the goods"

Miraya FM (http://mirayafm.net/index.php/south-sudan-news/9540-trucks-loaded-goods-arrive-from-sudan)

Direct flights begin from Juba to Khartoum

Tuesday, 18 September 2012

Marsland Airways-one of Sudan's commercial airliners-has resumed direct flights between Juba and Khartoum after a six month suspension.

http://mirayafm.net/images/stories/webphoto/daily_life/5870044045_7982f54570.jpg

The company's flight operations officer, Victor Joseph Wani confirmed to Radio Miraya that a flight carrying sixty two passengers left Juba for Khartoum this afternoon.

Joseph Wani says Marsland Airways will continue with four direct flights a week with a one-way ticket costing 1,430 SSP and a round ticket for 2,860 SSP.

"I would like to our customers of Marsland, that we have resumed the flights and they are most welcomed as we'll be running four flights every week that's on Monday, Tuesday, Thursday and Saturday and hopefully we'll increase the frequency of the flights in the future"

The resumption of direct flights comes after the Juba and Khartoum governments signed an agreement last month to resume direct flights between the two capitals.

Miraya FM (http://mirayafm.net/index.php/south-sudan-news/9599-marsland-airways-starts-direct-flights-from-juba-to-khartoum)

hUv8hQsiUGg

S.Sudan aims for 1 bln SSP in first t-bill sales: cenbank

By Hereward Holland and Alexander Dziadosz | Wed Sep 19, 2012

JUBA (Reuters) - South Sudan aims to raise 1 billion South Sudanese Pounds over four months in its first ever treasury bill sales to help plug a budget deficit brought on by the shutdown of its oil industry in January, the central bank said.

A first trance of 500 million pounds has been already been sold over a period of two months in several issuances which were up to 50 percent oversubscribed, central bank governor Kornelio Koriom Mayik said in an interview on Tuesday.

He also said the year-old African country has enough dollar reserves to cover imports for seven months and is seeking new loans to bolster its finances until oil output resumes.

Reuters (http://af.reuters.com/article/investingNews/idAFJOE88I00L20120919?feedType=RSS&feedName=investingNews)

Is Juba airport gonna get reconstructed??

Direct flights begin from Juba to Khartoum

Tuesday, 18 September 2012

Marsland Airways-one of Sudan's commercial airliners-has resumed direct flights between Juba and Khartoum after a six month suspension.

http://mirayafm.net/images/stories/webphoto/daily_life/5870044045_7982f54570.jpg

The company's flight operations officer, Victor Joseph Wani confirmed to Radio Miraya that a flight carrying sixty two passengers left Juba for Khartoum this afternoon.

Joseph Wani says Marsland Airways will continue with four direct flights a week with a one-way ticket costing 1,430 SSP and a round ticket for 2,860 SSP.

"I would like to our customers of Marsland, that we have resumed the flights and they are most welcomed as we'll be running four flights every week that's on Monday, Tuesday, Thursday and Saturday and hopefully we'll increase the frequency of the flights in the future"

The resumption of direct flights comes after the Juba and Khartoum governments signed an agreement last month to resume direct flights between the two capitals.

Miraya FM (http://mirayafm.net/index.php/south-sudan-news/9599-marsland-airways-starts-direct-flights-from-juba-to-khartoum)
:cheers::cheers:

nice news thanks for posting

Is Juba airport gonna get reconstructed??

Yep, it's currently under construction...

Project Plan

http://www.jndvirtual.us/eap/images/juba_render_mp.jpg

New terminal is partly completed

http://t2.gstatic.com/images?q=tbn:ANd9GcQq3vKKEQMTlHLFufdVq4MiguWsYGMxEKqfUXJqjujbH4PNaLM1MQ&t=1

http://www.gurtong.net/Portals/0/GlobalResources/EN/images/Editorial/Anthony%20Lino%20Makana%20speaking%20ps.jpg

:cheers::cheers:

nice news thanks for posting

Nice development indeed.....thanks.

Yep, it's currently under construction...

Project Plan

http://www.jndvirtual.us/eap/images/juba_render_mp.jpg

New terminal is partly completed

http://t2.gstatic.com/images?q=tbn:ANd9GcQq3vKKEQMTlHLFufdVq4MiguWsYGMxEKqfUXJqjujbH4PNaLM1MQ&t=1

http://www.gurtong.net/Portals/0/GlobalResources/EN/images/Editorial/Anthony%20Lino%20Makana%20speaking%20ps.jpg

:applause:

Thanks a bunch, any renders on the terminal??

:applause:

Thanks a bunch, any renders on the terminal??

Nothing more than these model pics..

http://a-w.co.za/wp-content/uploads/2010/11/juba-200-1.jpg

http://a-w.co.za/wp-content/uploads/2010/11/juba-200-2.jpg

^^ they look great.

S. Sudan: Turkish company to invest in airlines, energy sectors

September 26, 2012 (JUBA) - A group of Turkish investors are in Juba, the South Sudan capital to explore trade and investment opportunities within the airline industry, energy and the health sectors of the country’s economy.

http://www.sudantribune.com/local/cache-vignettes/L333xH250/murat_ersoy_atasjet_airline_president_l_and_ronald_ruay_deng_northern_bahr_el_ghazal_s_trade_and_investment_minister_september_26_2012_st_-d181a.jpg
Murat Ersoy, Atasjet airline President (L) and Ronald Ruay Deng, Northern Bahr el Ghazal’s Trade and Investment minister, September 26, 2012 (ST)

The 25-member delegation, led by the President of the Turkish-based Atlasjet airline, Murat Ersoy, was received at Juba International Airport by Ronald Ruay Deng, the Northern Bahr el Ghazal state Minister for Trade, Industry and Investment.

Ersoy, in a brief media address at the airport, said the group was inspired by the huge investment potential in the young nation, adding that investing in the airline industry will commence once a cooperation agreement is reached between the two parties.

“We will look around South Sudan and make any decision on which other sectors could be worth investing in,” said the President of one of Turkish largest airlines.

The move followed a recent trip made to Istanbul, the Turkish capital by a group of South Sudanese, under Kenya Commercial Bank’s (KCB) business club arrangements.

Deng, who was part of the trip to Turkey, told journalists he was impressed by the quick response from the Turkish investors, almost a week after the visit to their country.

“This is a unique moment and we hope some investment opportunities will come out from this visit,” he said, adding, that the delegation will also hold talks with several government officials and the business fraternity.

It however remains unclear how much money the Turkish airline company will inject into South Sudan’s economy, which is heavily dependent on oil revenues to support its annual budget.

(ST)

9yuORWMoaAU

And there will be trade between two Sudans again.....

Sudan resumes sorghum exports to South Sudan

Tuesday, 02 October 2012 |Mabior Mach

Sudan's President Omar al-Bashir, has issued an order directing for the resumption of sorghum exports to South Sudan.

The order, seen by Radio Miraya, said the exports should start immediately and should not wait for the implementation of trade corporation agreements, that were signed by the two governments in Addis Ababa last week.

The statement further said the gesture confirms Sudan's commitment to the signed agreements.

The Khartoum government stopped all cross border trade with South Sudan in March this year, following a breakdown in relations between the two countries.

Miraya FM (http://mirayafm.net/index.php/south-sudan-news/9737-sudan-resumes-sorghum-exports-to-south-sudan)

South Sudan, United States Sign Investment MoU

By Misuk Moses Mule

JUBA, 17 October 2012 [Gurtong]- Garang Diing, the Minister of Commerce and Industry signed the memorandum on behalf of the South Sudan government with Elizabeth Littlefield, the president of the Overseas Private Investment Cooperation (OPIC).

The signing was witnessed by the United States Ambassador to South Sudan, Susan Page.

According to Littlefield, the memorandum will pave way for funding direct investments in the country.

She said that investors are excited about South Sudan and she believes that the result of the agreement will see the building of infrastructure which will lead to peace and prosperity of South Sudan.

“It is not only oil sector that investors are interested in but also agriculture, tourism, infrastructure, transportation, processing and manufacturing,” she said.

Littlefield is also optimistic that with investment, the country will be prosperous and a great nation. She added that South Sudan has tremendous future in wildlife and tourism.

She said that the step marks the first between the United States and South Sudan in a long partnership with great amounts of foreign investment in the country.

Meanwhile the Minister of Commerce and Industry thanked the United States for supporting the country and promoting the private sector.

He told the media that the move is to pave way for investment to come to South Sudan.

The minister said that the agreement will provide financial and political risk which he said investors are afraid of.

Garang said that South Sudan is ready for business especially after the recently signed cooperation agreement between Juba and Khartoum.

The minister also assured the president of OPIC that the government will provide the investors with the facility that will help them support the country.

Gurtong (http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/8092/categoryId/1/South-Sudan-United-States-Sign-Investment-MoU.aspx)

Resuming Flights between Khartoum and Juba Benefits Both Countries


Economic experts considered the resumption of flights between Khartoum and Juba a positive indicator, signaling the enhancement of relations between the two countries. It is considered a step towards the resolution of the remaining issues; both economic and those related to the disputed region of Abyei.
Economic expert Mohammed Alnayir said that resuming flights between the two countries was not a contested issue. It will help increase the magnitude of investments and encourage commercial exchange between the two countries, especially in light of the unsafe state of the roads which link the two countries. He added: "The resumption of flights is definitely a positive indicator."
Economic expert and manager of Global Company Shogi Azmi said that the resumption of flights is natural thing between the two countries and their peoples given the strong and interrelated relations between them. He added: "The British colonization had tried in the past to drive a wedge between the two peoples, and some foreign entities try to do the same thing now; but the resumption of flights and resolving the remaining issues will stop the efforts of these foreign entities."
He went on to say: "The two countries need each other and function collaboratively. This is why all the transportation means must be reinstated to help facilitate the implementation of all other agreements."

Starting the Khartoum Juba Line anew

The first flight flew from Khartoum to Juba a few days ago. It was a Marsland Airlines flight. Acting Sudanese ambassador Faisal Abdulazeem said the arrangements taken to restart the line are new ones given the new two countries state after secession. He said he hopes that this resumption of flights will be encourage the implementation of all the other agreements.
He added that the route has been reinstated for six months upon the visit of the undersecretary of the Ministry of Foreign Affairs to Juba, and will later be re-evaluated after the final negotiations.
On another issue; the acting ambassador said that there are 15,000 to 20,000 Sudanese citizens in South Sudan whose situations are now being assessed by a team from the Sudanese immigration department to help organize and legalize their stay in South Sudan.
The deputy South Sudanese ambassador to Khartoum said that the responsibility of embassies is to pacify situations, and encourage the peoples of the two countries to build even stronger relations.
Director General of Khartoum International Airport Salah Salim said that Khartoum Airport is prepared to facilitate all the procedures necessary for arranging flights to Juba. He said 12,000 voluntary flights have flown to Juba from Khartoum airport in the past. Now there will be a flight on a daily basis to help reinforce the relations between the two countries.
Marsland Airlines Consultant Dr. Khalid Al-Tijani said resuming the flights between the two countries constitutes a strong motive for strengthening relations on all levels.
Marsland Airlines agent in Juba said that resuming the flights is considered an enhancement of relations.

:cheers::cheers:

غرفة المقاولات ... تتعهد بالمساهمة فى تعمير جنوب السودان

الخرطوم : بابكر الحسن:

اكدت الغرفة القومية للمقاولات والخدمات الهندسية باتحاد الغرف التجارية كامل الجاهزية للدفع بالاتفاق الاطارى للتعاون المشترك بين السودان ودولة جنوب السودان الى واقع عملى يعيشه المواطن بالبلدين.
واعلن المهندس احمد البشير عبد الله رئيس الغرفة الاستعداد التام لغرفة المقاولات وشركات المقاولات للمساهمة فى تعمير دولة جنوب السودان بالاستفادة من الفرصة التى اتاحها الاتفاق للولوج الى السوق بدولة الجنوب مشيراً الى ان شركات المقاولات بالسودان تعتبر الاكثر تأهيلاً وجاهزية ومعرفة بدولة وسوق الجنوب للمساهمة والعمل فى مجالات البنيات التحتية والتعمير فى مجالات الخدمات التعليمية والصحية .

ونوه الى ان مايدعم ذلك التفاهم المتبادل والمعرفة بتفاصيل وطرق العمل بين الكوادر العاملة من مهندسين وعمال فى مجالات التشييد والبناء بالبلدين قبل حدوث الانفصال.

واشار المهندس احمد البشير الى ان قطاع البناء والتشييد يعتبر من اكثر القطاعات التى تأثرت سلباً بالخلافات بين السودان ودولة جنوب السودان مشيراً الى انها عطلت كثيرا من المشروعات التنموية بالبلدين وأبان ان الاتفاق بين البلدين أمر من شأنه ان يسهم فى انتعاش قطاع المقاولات والبناء والتشييد بالبلدين وقال «نأمل ان نرى قريباً معدات وآليات شركات المقاولات السودانية تعمل بدولة جنوب السودان من أجل التعمير للمساهمة فى إرساء دعائم السلام والتواصل الايجابى بين شعبى البلدين» واضاف ان هنالك أفضلية لشركات التشييد السودانية للاستفادة من الفرص المتاحة بحسبانها الاكثر تأهيلاً وإلماماً بطبيعة وجغرافية الجنوب وتعمل بتكاليف اقل من الشركات الاجنبية وتعمل على تشغيل العمالة من دولة الجنوب بالاضافة الى توافر الخبرات القادرة على إنجاز كافة الاعمال الهندسية فى مجالات البناء والتشييد.

من جانبه أكد المهندس ياسر ابراهيم كشة ان سوق العمل بدولة الجنوب اكبر مكسب للمقاولين السودانين باعتباره بلدا ناميا ، وخاليا من البنى التحتية تماما، اضافة الى الرغبة الكبيرة فى اعمال الشماليين بعد ان فشلت تجارب اليوغنديين والكينيين فى المنشآت خلال الفترة الماضية، بجانب عدم جودة بعض مواد البناء اليوغندية خاصة الاسمنت والسيخ ، واشار ياسر الى بعض الاشكاليات التى واجهتهم فى خلال فترة عمله بالجنوب والتى امتدت لاكثر من ثماني سنوات ، وقال لـ(الرأى العام): لايخلو المجتمع الجنوبى من مشاكل كغيره من مجتمعات العالم الثالث، ولكنها ليست بالصورة المخيفة، واضاف: هذا يتوقف على تعامل الشخص مع الآخرين، وقال: ما تعرضنا له من قبل الجنوبين مواطنين او مسؤولين تسببت فيه ظروف اقتصادية، واكد ضمان ارجاع حقوقهم، نسبة لعدم انكار من تعاملوا معهم فى ذلك، وتابع: من السهولة جدا العمل فى قطاع المقاولات بالجنوب لاصحاب التجارب السابقة، ولكنه يحتاج لرأس مال كبير جدا، نسبة لارتفاع اسعار مواد البناء، وأشار الى ان طن الاسمنت على الرغم من عدم جودته يبلغ (1600) جنيه بالجنيه الجنوبى ، وطن السيخ (7) آلاف جنيه ، ومتر الخرصانة المربع (كسارة) يبلغ ما يعادل (100) دولار امريكى، ولكنها مربحة فى نفس الوقت، خاصة فى الاستثمار فى مجال الشقق، خاصة التى تقوم على أيد سودانية خالصة، بجانب جدوى الاستثمار فى مجال مواد البناء المختلفة.

http://www.sudacon.net/2012/10/blog-post_3189.html

I don't think SSs will understand that news :?

I don't think SSs will understand that news :?

It hasn't been that long:lol: Some schools even still teach Arabic.....So, am sure some folks will get it. Anyways, isn't that news about RS companies hoping to use the recently signed agreement for joint cooperation.....to seize business opportunities in RSS, especially in the construction sector. :)

It hasn't been that long:lol: Some schools even still teach Arabic.....So, am sure some folks will get it. Anyways, isn't that news about RS companies hoping to use the recently signed agreement for joint cooperation.....to seize business opportunities in RSS, especially in the construction sector. :)

Great to see you guys can understand Arabic because i thought once you splited up you left everything that attachs to Sudan but anyway yes :)

Great to see you guys can understand Arabic because i thought once you splited up you left everything that attachs to Sudan but anyway yes :)

We did left plenty of things alright....But, language had nothing to do with the split.

We did left plenty of things alright....But, language had nothing to do with the split.

:cheers::cheers:

Sudd Bottling Workers Run Final Tests In Readiness for Production

Sudd Bottling Factory has started to train its workers on water production techniques in readiness for the commencement of production and distribution later this month.

http://gurtong.net/Portals/0/GlobalResources/EN/images/Editorial/Sudd%20Bottling%20Co%20Ltd%20start%20operation%20in%20BOR.jpg
Sudd Bottling Workers Run Final Tests In Readiness for Production
Workers doing final tests on the equipments at Sudd Bottling Company. [Gurtong | Jacob Achiek Jok]

By Jacob Achiek Jok

BOR, 18 October 2012 [Gurtong]– “The training started yesterday and is going to be five days training. We also have to make sure that all our workers in the factory have to have what it takes to produce good products,” the Executive Director, Joseph Majur Akoi said.

All the workers at the factory will undergo a medical check up as part of their training as workers in the factory are supposed to be healthy.

Majur said that as part of food production and for everybody to drink safe and hygienic water, they have to make sure the environment and health of the workers is given priority.

He said they have employed more than 40 workers and could increase up to 1000 workers if the production picks up well.

“We have employed almost to 40 workers to work in the factory and we are going to have two shifts. We may go up to 1,000 workers that is what we are expecting to do the three shifts by bringing in the more workers,” he said.

Majur said that some of the representatives from office of the president have toured to factory and appreciated the work done in Jonglei.

Monica Nyachara Derijok, a trainee at the factory appreciated the presence of the factory in the state as it will help in reducing the prices for bottled water.

“The presence of the factory in state is the step ahead in term of development, we are not going to buy water at high prices in market and the factory will employ people,” she said.

The cost of a bottle of water from the factory is said to be less than 1 Pound so that consumers will get ability to buy at rate of 1 pound per bottle from the distributors.

The plant has a daily production of about 80,000 bottles per day and could be increased to three shifts per a day is there is demand.

The factory is a joint public-private partnership between the government and Jack Technology Company.

The production and distribution is expected to start by the end of the month.

Gold fever hits South Sudan

By Foreign writer, November 11 2012, 09:12

Ordinary people have been extracting gold from artisanal mines and taking part in as-yet unregulated trade in the precious metal. But now the new South Sudan government hopes to pass mining legislation that will formalise the industry, letting it tax precious metal and mineral exports and sell concessions to large-scale investors.

LEER Likuam boasted that he once found a 200g gold nugget bigger than his thumb.

In Nanakanak, a village of stick huts in an area that has attracted hundreds of diggers since Sudan's civil war ended in 2005, Likuam's find would have been lucrative but unexceptional.

On an average day he might dig up 6g , worth around $270 , he said. Word of Nanakanak's riches has spread.

Officials say companies from China, Australia, the US, South Africa and other African countries plan to apply for licences when new mining laws are passed later this month.

On the international market, Likuam's prize lump would fetch $11000, an enormous sum in a country where the average teacher earns just $90, a month.

Miners sell the gold for around $46 a gram, leaving traders a narrow profit margin for resale on the international market at $55.

Officials hope a new mining law will bring this trade out of the black market.

Link (http://www.bdlive.co.za/businesstimes/2012/11/11/gold-fever-hits-south-sudan)

South Sudan is booming..!

By Mekki Elmograbi | November 11th, 2012

Some weeks ago, a group of South Sudanese officials and businessmen paid a visit to Istanbul-Turkey to launch business negotiations with big Turkish and multinational companies on several issues related to huge investment opportunities in the Republic of South Sudan-RSS.

The trip was well organized and arranged by Kenya Commercial Bank’s (KCB) business club. The first fruit of this trip has appeared a month ago when a 25-member delegation from Atlas-jet Turkish Airlines Company arrived at Juba International Airport and received by Ronald Deng, the state Minister for Trade, Industry and Investment (NBG).

The President of the Turkish company Murat Ersoy briefed the media at the airport, saying that the company was inspired by the huge investment potentials in the RSS, adding that investing in the airlines and aviation careers will be inaugurated very soon. Official South Sudanese sources said there is a proposal or a draft for the cooperation agreement between Atlas-jet and RSS; more “negotiations” is needed to reach an agreement between the two parties.

This step is very important for South Sudan because it contains many indicators:

Investing in airlines and civil aviation careers will improve Juba Airport and other South Sudanese Airports; a step which will make it easy and possible for investors and businessmen to reach all areas in South Sudan at any time they want. The Turkish Airline Company will involve in a comprehensive partnership with South Sudan in civil aviation to achieve what they would agreed on, it will be the a model for “cross-continent” investment in the RSS.

The coming of this Turkish Company will attract other Turkish companies and other deferent companies from East Asia, the most generous and helpful partners for Third World and African countries. Not just the Sudanese experience, many African experiences proof that Chinese, Turkish and Malaysian companies are highly needed for their good offers and their less intervention in internal political affairs. Most of Western countries stop their investments and suspend their relations under political pressures based on claims related to Human Rights and other issues. It does not matter for them what is happening in reality and what is the best solutions; political campaigns stops investments automatically!

Link (http://indepthafrica.com/south-sudan-is-booming/#.UKBuIIHhfwI)

CfC says South Sudan branch to break even early

By James Anyanzwa

CfC Stanbic Bank expects its newly opened branch in southern Sudan to start making profit earlier than anticipated owing to numerous opportunities in the region.

Although it normally takes between 12-18 months for a new branch to break-even, the bank is betting on its trade finance business to shore up its earnings much faster.

More:Link (http://www.standardmedia.co.ke/?articleID=2000070960&story_title=Kenya--CfC-says-South-Sudan-branch-to-break-even-early)

South Sudan parliament passes mining bill

By: Reuters,23rd November 2012

JUBA – South Sudan's parliament has passed a mining bill which it hopes will open up the largely unexplored territory to investors and diversify its heavily oil-dependent economy, a senior lawmaker said on Friday.

Officials say firms from China, Australia, the US, South Africa and other African countries plan to apply for licences in the new country, which seceded from Sudan in 2011.

Apart from gold, South Sudan, a country with few paved roads, has also potential deposits of diamond, chromite, copper, uranium, manganese and a belt of iron-ore, experts say.

Parliament passed the bill this week after its third reading, but it may take a further three weeks to become law, said Henry Odwar, chairperson for the Committee of Energy, Mining, Commerce and Industry.

The joint legislative committee and President Salva Kiir still need to approve the bill but it is not expected to come up against much resistance.

"I hope it will be on the president's desk soon and it should be signed into law within three weeks," Odwar told Reuters.

According to a copy of the bill seen by Reuters, holders of the existing 42 exploration licences signed before independence will have 60 days to renew their licence on a priority basis.

Mining licences will initially be allocated for a maximum of 25 years on a renewable basis, and the government has the right to acquire a maximum of 15% of a concession.

South Sudan wants to lower dependency on oil revenues which used to make up 98% of state income until the government shut down production in a row with Sudan over export fees in January.

Both countries agreed in September to resume exports but need to implement a border security agreement first.
Link (http://www.miningweekly.com/article/south-sudan-parliament-passes-mining-bill-2012-11-23)

I wonder how Juba will be like in 10 or 20 years.. The South Sudanese government should have a national development vision that will improve services across the country. Almost like Kenya's Vision2030... It will make the place more attractive to investors to develop sectors of the vision...

S.S. Vision 2025 how does it sound

South Sudan parliament passes mining bill

Mining licences will initially be allocated for a maximum of 25 years on a renewable basis, and the government has the right to acquire a maximum of 15% of a concession.

Link (http://www.miningweekly.com/article/south-sudan-parliament-passes-mining-bill-2012-11-23)
Is that it?:? That's peanuts.:lol:

Steel factory to open in Juba

JUBA, 10 December 2012 - Construction industry in African’s youngest nation South Sudan may soon receive a boost as steeling manufacturing factory is set to launch operations in Juba early next year.


Edward International Company Ltd started operations in January 2012 and now it has established a factory across “Koru Ramula” about 10 km along Juba Kajo keji road. The factory besides production of steel products such as iron sheets and bars will also be producing electric cables, paints, water pipes, and plastic water tanks.


“We will be producing all types of different building materials locally here. Since we will be producing locally, we will have competitive price”, said Kirolos Edward Assad, the General Manager.


http://www.goss-online.org/magnoliaPublic/en/news/mainColumnParagraphs/011111111115/content_files/file/DG%20of%20National%20Bureau%20of%20Standards%20Mary%20Gordon%20and%20Commerce%20Undersectary%20Hon.%20Simon%20Nyang%20share%20a%20moment%20at%20the%20factory%20premises%20%5Bphoto%20by%20Matata%20Safi%5D.%20Simon%20Nyang%20share%20a%20moment%20at%20the%20factory%20premises%20%5Bphoto%20by%20Matata%20Safi%5D.jpg

DG of National Bureau of Standards Mary Gordon and Undersecretary Mr Nyang consult during a visit to the factory premises.
[Photo: Matata Safi]


South Sudan after decades of civil war is witnessing a rapid development drive with almost all the construction materials imported. Starting with paint production in February 2013, the factory will be employing over three thousand South Sudanese in the plant.


Meanwhile the Undersecretary of Commerce, Industry and Investment Mr Simon Nyany Anei has urged more investors to come and invest in the Republic of South Sudan. “We need more industries for the development of South Sudan”, he appealed.

(NASS)

South Sudan's Annual Inflation Now At 25 Percent
South Sudan's inflation fell to just 25% last month compared to the 41%, registered in the month of November 2012, the country's National Bureau of Statistic (NBS) said it latest report.

The decline in inflation, according to the state-owned body, resulted from a fall in food prices by 26% between December 2011 and 2012.

Prices for alcoholic beverages and tobacco, NBS said, increased by 54.1% over the same period the relevant figure for restaurants and hotels was an increase of 18.8%.Read more (http://allafrica.com/stories/201301210077.html)

Atlasjet to establish South Sudan based subsidiary

24, JAN 2013 | Atlasjet Airlines (KK, Antalya (AYT)) is planning to invest in a new airline to be based in the South Sudan's capital of Juba (JUB) that would initially operate with two aircraft according to Atlasjet CEO Sami Alan. The government of South Sudan had issued a tender before to find an international airline partner willing to establish a new airline in Juba.

Link (http://www.ch-aviation.ch/portal/news/16225-atlasjet-to-establish-south-sudan-based-subsidiary)

KQ will surely help you guys develop your own national airline...

KQ will surely help you guys develop your own national airline...

Hopefully....

UAE's flydubai launches South Sudan route

By Daniel Shane | Tuesday, 19 February 2013

http://www.arabianbusiness.com/incoming/article372862.ece/ALTERNATES/g3l/flydubai+2.jpg

The UAE’s flydubai will begin flying to South Sudan capital Juba from 21 April, the low-cost carrier said.

The Dubai-based airline will fly to Juba Airport four times a week from its base at Dubai International Airport’s Terminal 2.

Services to Juba will operate on Mondays, Tuesdays, Fridays and Saturdays, departing Dubai at 10:10 UAE time and landing in South Sudan at 14:00 local time. Return flights will leave Juba at 15:00, with a scheduled arrival in Dubai at 21:15.

Dubai government-owned flydubai was setup in 2009. It serves more than 50 destinations across the Middle East, Asia, Africa and Europe with a fleet of 28 aircraft.

Link (http://www.arabianbusiness.com/uae-s-flydubai-launches-south-sudan-route-490163.html)

^^ :cheers:

In South Sudan, Water and Oil Do Mix: Expert

John Tanza | February 25, 2013

WASHINGTON, D.C. — South Sudan has enormous economic potential, with oil and water taking lead roles in the new nation's economic mix, but other resources also waiting in the wings, a U.S. based Sudan expert says.

"In the short term, oil is the life blood of the economy and of money the governments in both Khartoum and Juba rely on for all the activities of government," including paying their armed forces and civil servants, Alex de Waal, director of the Massachusetts-based World Peace Foundation, said.

"In the long term, South Sudan’s future depends on other resources that will be more valuable than the oil it has today," he added, referring in particular to its "extremely well-watered land, which makes for some of best farming land in the world, and for grazing cattle."

Eco-tourism is another untapped source of revenue for South Sudan, de Waal said. The newest nation in the world has "some of the most fantastic wildlife in the world" and could develop "vast game reserves, which could also be carbon sinks because the extent of the vegetation there is part of the lungs of the world."

But, in the immediate future, Juba has to work with Khartoum to resolve a dispute over oil, which has blocked South Sudanese exports of crude for more than a year.

more here (http://www.voanews.com/content/in-south-sudan-water-and-oil-do-mix-expert/1610482.html)

World Bank Board endorses new Interim Strategy Note for South Sudan

01/03/2013

The FINNACIAL -- The World Bank Board of Executive Directors discussed and endorsed the first Interim Strategy Note (ISN) for the Republic of South Sudan. Developed jointly with the International Finance Corporation (IFC), the ISN represents the Bank Group’s support to the South Sudan Development Plan over the FY13-FY14 period.

Over this period, the Bank’s International Development Association plans to invest approximately US$130 million in support of the Government of South Sudan foundational development of effective and accountable public institutions that respond to citizens’ needs. It will seek to impact service delivery by promoting effective economic management and governance; and expanding productive employment opportunities.

More here (http://finchannel.com/Main_News/Banks/124314_World_Bank_Board_endorses_new_Interim_Strategy_Note_for_South_Sudan/)

Cfc Stanbic breaks even in South Sudan in 9 months

BY WINFRED KAGWE | Friday, March 8, 2013

Cfc Stanbic Bank managed to break even in South Sudan after less than a year in the market.

The bank, which entered the market in April, announced it earned Sh150 million from its single branch and is now keen on expanding operations.

The bank may have to increase its investment in South Sudan from around $15 million (approx. Sh1.290) to $30 million (Sh2.58 billion) to meet a new requirements set by the government there.

The South Sudan regulator has doubled the minimum investment amount for foreign banks wanting to set up shop from $15 million to $30 million.

"Since we made our investment before they changed the regulation, we are asking whether we have to put in $15 million or $30million. They have not clarified, we are still waiting," CfC Stanbic bank’s managing director Greg Brackenridge.

Brackenridge said the bank has no problem increasing its investment in the market.

"If we are asked to put in $30 million, we have enough money to do that...from the rights issue. We do not expect this to impact on our business," he said.

Cfc raised Sh4.52 billion in an oversubscribed rights issue held last year.

“ We see high growth prospects in that market and we plan to open another branch this year,” said Brackenridge.

Kenya commercial Bank and Equity are the other kenyan banks that have been operating in South Sudan for several years. Co-operative bank is planning its entry next month

Link (http://www.the-star.co.ke/news/article-111170/cfc-stanbic-breaks-even-south-sudan-9-months)

Ernst & Young Sets New Base In Fledgling South Sudan

Posted on March 22, 2013

VENTURES AFRICA – Ernst & Young has become the second of the big four global accounting firms to open shop in South Sudan, the world’s newest country, to tap emerging opportunities.

The financial advisory services company said in a statement released in Nairobi that it was eyeing opportunities in financial, oil and gas, mining and agricultural sectors as well deals from donor community and the Government.

It now joins Deloitte as KPMG and PricewaterhouseCoopers(PwC) assess their success chances.

Ernst & Young’s managing partner for Africa Ajen Sita said regional expansion was part of the company’s investment plan.

”Investment into a new country office practice bears testament to the firm’s commitment to the African growth story, and ensuring that we provide seamless, consistent and high quality services to our clients,”Sita said.

More here (http://www.ventures-africa.com/2013/03/ernst-young-sets-new-base-in-fledgling-south-sudan/)

South Sudan currency strengthens after oil deal

By MACHEL AMOS in Juba | Sunday, March 24 2013

A week after a new deal that paves way to the crucial resumption of oil flow, South Sudan's currency has strengthened further against the US dollar, hitting its highest so far on Saturday since the shutdown of oil production in January last year.

The pound was trading at 3.85 units against the dollar and 4.85 units against the Euro; a sharp appreciation compared to 4.3 and 5.2 units against the dollar and Euro respectively for the last few months.

However, the official rates remained fixed at 3.17 and 4.3 units against the dollar and Euro respectively at the Central Bank.

“I am selling all these dollars. Maybe I will make losses if the government is selling oil,” said Joseph Baal, a vendor trading in currencies at Custom suburb in Juba, pointing to bundles of US dollars on his makeshift table.

“There will be many dollars from the bank if oil is flowing in the pipeline,” said another, identified as Gatjal Bol.

More here (http://www.africareview.com/Business---Finance/South-Sudan-currency-strengthens-after-oil-deal/-/979184/1729058/-/qcs0diz/-/index.html)

Regional investors eye investment in South Sudan

By Jumana Al Tamimi, Associate Editor | Published: 17:44 April 3, 2013

Dubai: Many investors from the oil and gas-rich Gulf region, including Sovereign Wealth Funds (SWFs), are showing interest in investing in South Sudan, the “youngest” country in the world, a top executive in a Dubai-based investment bank said.

Eric Essigner, chairman and chief executive officer of Emirates Capital Limited, told Gulf News that the African country offers “a pioneer job in order to develop the whole country”.

“We are already in talks with several Sovereign Wealth Funds from the GCC and we already have received a tremendous interest from those entities, who not only would invest directly in cash, but also would like to expand their activities into of south of Sudan,” he said.

While he preferred not to mention any party at this stage, he said “most of them like to go into a county where they can participate in the tremendous growth of this country, But also in the direction of food procurement as well as other infrastructural investment, they are very very interested in.”

“I strongly believe that this is one in a lifetime opportunity to build a country and moreover, a pan-African hub,” he added.

More here (http://gulfnews.com/business/investment/regional-investors-eye-investment-in-south-sudan-1.1166357)

this oil shutdown has markedly hurt both economies Sudan's economy shrunk by 11% and the South's by 55% its good that its finally being resolved.

United States to Host South Sudan Economic Partners Forum April 16

Office of the Spokesperson | Washington, DC | April 5, 2013

The United States Government, in coordination with the Governments of the United Kingdom, Norway and the European Union, will host a South Sudan Economic Partners Forum in Washington on April 16, 2013, to discuss the economic and fiscal challenges facing South Sudan and how the Government of the Republic of South Sudan, together with partner nations and international financial institutions, can best address them.

These governments and international financial institutions, including the World Bank, the International Monetary Fund and the African Development Bank, are working with the Government of the Republic of South Sudan to explore concrete options to help bridge the fiscal gap exacerbated by the oil shutdown of the past year, as well as plans to diversify South Sudan’s economy to allow for sustainable long-term growth.

The South Sudan Economic Partners Forum is an opportunity for representatives of governments and international financial institutions to discuss strategies to address South Sudan’s economic challenges with South Sudanese Government officials and offer support for sound government policy-making.

For further information, please contact USAID Press Officers at 202-712-4320, or Erin Rattazzi at RattazziEA@state.gov, 202-736-7043.

Link (http://www.state.gov/r/pa/prs/ps/2013/04/207108.htm)

Golden prospects : South sudan minerals explorations

Charlotte Mathews | 18 April 2013

Gold prospectors are queueing up for permits in South Sudan, hoping to find a deposit like Kibali Gold Mine, across the border in the adjoining Democratic Republic of Congo.

Kibali, owned by Randgold Resources and AngloGold Ashanti, will be one of the biggest gold mines in Africa when it is at full production of 600000oz. South Sudan's deposits, still largely unmapped, are believed to be similar.

In South Sudan the signing of a new mining law by President Salva Kiir Mayardit last month helps explain the queue for licences, as it will provide greater security of tenure.South Sudan's ministry of minerals said recently there were 90 companies with gold concessions. Of these, 13 were already in production and another seven would start this year.

The excitement over South Sudan's gold potential follows reports of big nuggets found by artisanals scratching the surface. Evidence of copper, uranium, diamonds and iron ore has also been found. But the last geological survey was done in the 1980s and many records were lost in the civil war.

SA mining entrepreneur Richard Linnell, chairman of New Kush Exploration & Mining (NKEM), says his company has been in South Sudan since 2006. It is exploring a known gold formation in Eastern Equatorial, in the southeast of the country. The presence of artisanals, as well as NKEM's aerial surveys, suggest the area is highly prospective.

Mark Parker, previously MD of JSE-listed African Eagle Resources, now leads a private company, Equator Gold, which has an earn-in agreement with a local company to explore the Lura concession, close to the capital, Juba.

Parker says Equator's area was previously held by a Canadian company, whose exploration manager suggested this was an excellent project. Parker's own research confirms this. Equator has been conducting preliminary studies in the past year and results so far encourage the next step, a drilling programme to begin before the end of this year.

South Sudan's infrastructure is minimal and the population still heavily armed after the civil war. Several African countries have experienced conflict between illegal and licensed gold miners but Linnell believes artisanals can be incorporated into formal mining as surface deposits become depleted.

Parker says South Sudan's independence is working well and the challenges are no greater than in some other countries. "Exploration companies have an appetite for difficult places," he adds. "South Sudan may have a basement area with gold potential of about 300000km², a third larger than Ghana."

Link (http://www.fm.co.za/fm/Features/2013/04/18/golden-prospects)

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South Sudan Approves First Mortgage Lender

By Mading Ngor - May 2, 2013

South Sudan’s Cabinet approved the establishment of a $200 million mortgage lender through a public-private partnership to help address a shortage of homes, Housing Minister Jemma Nunu Kumba said.

The proposed company, to be known as Housing Finance Bank, will be 49 percent owned by foreign investors, with 31 going to domestic financiers and the rest to the government, Kumba said in a phone interview on April 30 from the capital, Juba. About 90 percent of South Sudanese live in grass-thatched houses, according to the Ministry.

“We have done situation analysis and we found that housing is scarce and the few houses available are very unaffordable,” Kumba said. The lender must raise $30 million to receive central bank approval to start operations, she said.

South Sudan is forecast to be the world’s fastest-growing economy this year, with the International Monetary Fund forecasting gross domestic product will expand 32.1 percent after contracting 53 percent in 2012. The East African nation this month resumed oil production, ending a 15-month shutdown after a dispute with neighboring Sudan over transport and processing fees. It pumped 350,000 barrels of crude per day before output was halted.

An enabling law for the mortgage industry has yet to be drafted and passed by parliament and the establishment of the lender may take as long as a year, Kumba said.

“We’ll make sure it materializes in the shortest possible time,” she said.

The government envisages the lender offering housing loans at interest rates of 10 percent to 15 percent, Kumba said. Two foreign venture-capital companies have expressed interest in investing, she said, without identifying them.

Bloomberg (http://www.bloomberg.com/news/2013-05-01/south-sudan-approves-first-mortgage-lender-amid-housing-shortage.html)

Ex IMF boss opens bank in South Sudan

Africa Monday 13 May 2013 - 3:39 PM

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Former Managing Director of the International Monetary Fund (IMF) Dominique Strauss Kahn is pictured in South Sudan on May, 13 2013: AFP

JUBA, South Sudan - Former IMF chief Dominique Strauss-Kahn arrived in South Sudan on Monday to open a bank.

This was a rare public return to the financial world since a dramatic fall from grace after a sex scandal two years ago.

"I believe that a country like South Sudan deserves some special attention," he told reporters at the airport after his arrival, saying he would open a new bank, named as the National Credit Bank (NCB), as well as assess the investment opportunities in the impoverished country.

"It is a new country and still with a lot of economic and political problems....it wants to have the full opportunity for development and business," Strauss-Kahn said at the start of a two-day visit.

Little is known about the NCB bank, although officials said it is a Swiss-backed private venture launched in cooperation with South Sudanese partners.

Straus-Kahn was greeted at the airport by South Sudan's Minister of Commerce Garang Diing.

"This visit is very important to us... especially in relation to investment attraction to South Sudan," Diing said.

"He wants to see how South Sudan is prospering in terms of peace, stability, democracy and economic performance," Diing added.

More here (http://www.enca.com/africa-money/ex-imf-boss-opens-bank-south-sudan)