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Machar Returns to Juba for Peace Celebrations | Politics overlaps with banking in South Sudan | South Sudan frees five political detainees-intelligence agency |

Politics overlaps with banking in South Sudan

South Sudan’s political elite has been accused of hijacking the banking system for personal gain and locking out local businesses and citizens. Out of the 26 banks operating in South Sudan, 14 are partially owned or controlled by politically exposed persons (PEPs) who exert undue political influence in the banking sector, says a new report by US corruption watchdog, The Sentry. The report, “Banking on War: Ending the Abuse of South Sudan’s Banking Sector by Political Elites,” which was…

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South Sudan Extends Oil Agreements For Three Blocks

South Sudan extended oil agreements for three blocks, the petroleum minister said Sept. 10, seeking to revamp activity in the sector which ground to a halt after years of civil conflict. The government said last week it expects to hit peak oil output of 350,000 barrels per day (bbl/d) by mid-2019 as production ramps up at oil fields that were offline due to the violence. South Sudan seceded from Sudan in 2011 when output peaked at 350,000 bbl/d but…

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South Sudan to Begin Oil Exports From Unity, Upper Nile

Oil Minister Ezekiel Lol Gatkuoth announced that the Tharjiath oilfields Unity State and Upper Nile, which were affected by the civil war, will be fully operational by the end of the year. The government hopes to produce about 40,000 barrels per day from the Unity wells to boost the current low production of 130,000 barrels per day, down from the 350,000 the country used to produce before the war broke out in 2013. Currently, only the Faloij oilfields in…

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South Sudan ‘remains trapped in cycle of debt’

South Sudan remains trapped in a worsening cycle of debt as it is losing large portions of revenues through compensation agreements and defense expenses, according to a report by the World Bank. South Sudan has been using its net oil revenue to repay debts from oil trader Trafigura and advances to the Sudan. The World Bank says this has left the country with little net oil revenues to fund the 2018/2019 budget. “Given these financing shortfalls, the government has…

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Kiir worried over bloated unity government

South Sudan’s President Salva Kiir has expressed concern that the upcoming transitional government will require a lot of money. South Sudan’s parties signed a peace agreement in Khartoum on Sunday in the latest attempt to end the country’s five-year civil war. As part of the deal, Kiir will remain president and his main rival Machar will be reinstated as the First Vice President, one of five vice presidents. The deal also provides for 35 ministries and 550 members of…

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South Sudanese say hope peace deal helps revive economy

  A peace deal in South Sudan has revived hope not just that the guns will stop firing but that economic stability can return. Since war broke out in 2013, tens of thousands of people have been killed, a third of the population has fled their homes and the economy, which depends on oil, has been ruined. On Sunday President Salva Kiir and his former vice president turned rebel leader Riek Machar signed a ceasefire and power-sharing agreement in…

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South Sudan terminates petroleum license talks with Total

South Sudan has called off talks with French oil major Total about developing two oil blocks, the petroleum ministry said on Wednesday, paving the way for other investors keen on exploring the vast area thought to be rich in hydrocarbons. Total, alongside two other oil companies, has been in talks with the country’s government about developing the area called B1 and B2 since 2013. “The Ministry of Petroleum regrets that negotiations with Total have concluded in no deal,” Petroleum…

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Sudan, South Sudan Deploy Joint Forces To Protect Oil Fields

South Sudan and Sudan have deployed a joint military force along their border to protect oil fields and pipelines from criminal activity, South Sudan’s Minister of Petroleum Ezekiel Lol Gatkuoth was quoted as saying on Thursday. South Sudan broke from Sudan in 2011 and took with it around 350,000 bpd in oil production. After South Sudan’s secession from Sudan, the two countries have been mutually dependent on oil revenues, because the south has 75 percent of the oil reserves, while the north has…

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Shs14.9 billion to improve Uganda, South Sudan trade

TradeMark East Africa, has availed $4m (Shs14.9b) for the upgrade of key infrastructure connecting Uganda to South Sudan through Nimule. The money, which is expected to establish a One Stop Border Post at Nimule, will also seek to upgrade the road infrastructure between the two countries in about six months, which will in turn improve trade. Currently, it takes traders an average of three days to clear goods through the Nimule border post. Mr John Kalisa, the TradeMark East…

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South Sudan: Infrastructure upgrades at Nimule One Stop Border Post set to ease clearance of humanitarian consignments

The Government of South Sudan in partnership with TradeMark East Africa have launched construction works of key infrastructure at the Nimule One Stop Border Post (OSBP) including parking yard, access roads, examination shed and drainage systems. The function was officiated by Hon. Dr. Moses Hassan Tiel, the South Sudan Minister of Trade, Industry and EAC Affairs (MoTI&EAC), Undersecretary Ministry of Transport Hon. Capt David Martin Hassan, Undersecretary MoTI&EAC Hon. Agak Achuil Lual, Executive Director South Sudan National Road Authority…

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