News / Africa

    South Sudan Introduces Programs to Attract Investors

    Salva Kiir, President of Southern Sudan  and other senior members of his administration (file photo0Salva Kiir, President of Southern Sudan and other senior members of his administration (file photo0
    x
    Salva Kiir, President of Southern Sudan  and other senior members of his administration (file photo0
    Salva Kiir, President of Southern Sudan and other senior members of his administration (file photo0
    Peter Clottey

    This is Part Six of a six-part series on African Investment
    Continue to Parts:     1 / 2 / 3 / 4 / 5

    South Sudan’s Minister of Commerce, Industry and Investment says Africa’s newest nation is implementing policies to overcome its economic challenges.

    Garang Diing Akuong said that includes measures to create an enabling environment for foreign investment.

     “As at now we are attracting investors, but it’s not enough to [satisfy] our ambitions. We hope to have more,” he said. “We are supposed to put a couple of things in place to enable South Sudanese to invest and also to attract others to invest in South Sudan.”

    Akuong expressed disappointment in conflict which he said destabilizes East Africa and discourages foreign direct investment.

     “We are doing our best to stabilize South Sudan’s [domestically] ….so that people will go about their business in the normal circumstances. The pre-condition for investment is peace and … stability,” he said.

    “We are also trying to build peaceful co-existence with our neighbor [the Republic of Sudan] that we left. Currently, we are having difficulty relating to Sudan due to our differences on oil and border demarcation. These are pending issues, and they are creating a lot of instability in the region.”

    Akuong called on the East African Community, the Intergovernmental Authority on Development (IGAD) and the African Union to help broker a peace deal between Juba and Khartoum.

    “We hope that [they] will come and aide the two of us so that we reach an amicable solution. Trade is very important element in this co-existence because trade binds more than the other policies in place,” he said.

    Akuong made his comments at a recent three-day meeting of the New York Forum Africa held in the Gabonese capital, Libreville. The group brings together international investors and African business leaders on the continent in an effort to foster partnerships.

    Akuong said since independence the government has launched initiatives to strengthen its diplomatic relations within the region.

    “We are doing a lot to reconcile with neighboring countries, especially the Sudan. Because instability within the country and with neighbors can negatively affect investment,” said Akuong.

    “We are also trying to organize the various sectors in the country so that we know what it takes for [each sector] to take off. For instance, we are looking into power generation. We have a huge power deficit. We have about 10-20 megawatts in the entire country, a country that has oil. This is unacceptable.”

    Akuong said the government wants to attract investment in the energy sector, which he said is a priority and pre-requisite for investors.  He said the government is also planning a massive infrastructural development program including road networks “for easy import and export.”

    He said the government is enacting laws to serve as an incentive for the private sector.

     “We are working to encourage private banking. As of now, we have about nine banks in South Sudan and more than half of them are private international banks from Uganda, Kenya and Ethiopia.”  He says it’s important because a healthy banking system is essential for financing development.

    Akuong expressed confidence that South Sudan’s government policies will transform the country into one of the economic “tigers” of Africa.
    Clottey interview with South Sudan Minister Garang Diing Akuong
    Clottey interview with South Sudan Minister Garang Diing Akuong i
    || 0:00:00
    ...    
     
    X

    You May Like

    Native Americans Ask: What About Our Water Supply?

    They say they have been facing a dangerous water contaminant for decades - uranium – but the problem has received far less attention than water contamination by lead in Flint, Michigan

    Pakistan's President Urges Nation Not to Celebrate Valentine's Day

    Mamnoon Hussain criticizes Valentine's Day, which falls on Sunday this year, as a Western import that threatens to undermine the Islamic values of Pakistan

    Mother of IS Supporter: Son Was Peaceful, 'Role Model'

    Somali-American Abdirizak Mohamed Warsame pleaded guilty Thursday to charges of conspiring to provide material support to Islamic State militants

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: Ater Ngeny Ater from: Juba, RSS
    June 28, 2012 8:28 AM
    Wake Up Call To Investors!
    The Gold Rush In The South Sudan??
    The California Gold Rush Start In 1848, The Dot Com Boom Started In 1996, In 2011 The Republic Of South Sudan Opportunities For Investments Is UNDERWAY - - - - - - - - All Investors Don't Miss Out On This One! [A billions of USA Dollars will be in the market by 2015] "ATER Ngeny Ater's Research in the Republic of South Sudan in 2011"

    by: muheyo from: western equatoria
    June 26, 2012 11:56 AM
    We need peace and prosperity to develop our new born nation not shacking blood of our herose who paid the rest of south sudansess during this long period of war.we donnot need to fight again.

    By the Numbers

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Two-thirds of World Faces Water Shortagei
    X
    February 12, 2016 7:31 PM
    Four billion people — or two out of every three on the planet — do not have enough water to meet their basic needs. That is far greater than previously thought, according to a new study that presents a more accurate picture of the problem. As VOA's Rosanne Skirble reports, the findings will help policymakers and the public craft solutions to address the threat.
    Video

    Video Two-thirds of World Faces Water Shortage

    Four billion people — or two out of every three on the planet — do not have enough water to meet their basic needs. That is far greater than previously thought, according to a new study that presents a more accurate picture of the problem. As VOA's Rosanne Skirble reports, the findings will help policymakers and the public craft solutions to address the threat.
    Video

    Video Gateway to Mecca: Historical Old Jeddah

    Local leader Sami Nawar's family has been in the Old City of Jeddah for hundreds of years and takes us on a tour of this ancient route to Mecca, also believed to be the final resting place of Adam's wife, Eve.
    Video

    Video New Technology Aims to Bring Election Transparency to Uganda

    A team of recent graduates from Uganda’s Makerere University has created a mobile application designed to help monitor elections and expose possible rigging. The developers say the app, called E-Poll, will make Uganda's democratic process fairer. From Kampala, VOA's Serginho Roosblad reports.
    Video

    Video As Refugees Perish, Greek Graveyards Fill

    Aid workers on the Greek island of Lesbos say they are struggling to bury the increasing number of bodies of refugees that have been recovered or washed up ashore in recent months.  The graveyards are all full, they say, yet as tens of thousands of people clamor to get out of Syria, it is clear refugees will still be coming in record numbers. For VOA, Hamada Elrasam reports from Lesbos, Greece.
    Video

    Video Russia Bristles at NATO Expansion in E. Europe

    Russian Foreign Minister Sergei Lavrov is meeting Friday with the head of NATO after the Western military alliance and the United States announced plans for the biggest military build-up in Europe since the Cold War. Russia has called NATO's moves a threat to stability in Europe. But NATO says the troop rotations and equipment are aimed at reassuring allies concerned about Russia as VOA's Daniel Schearf reports from Moscow.
    Video

    Video To Fight Zika, Scientists Target Mosquitoes

    Mosquitoes strike again. The Zika virus outbreak is just the latest headline-grabbing epidemic carried by these biting pests, but researchers are fighting back with new ways to control them. VOA's Steve Baragona takes a look.
    Video

    Video Mosul Refugees Talk About Life Under IS

    A top U.S. intelligence official told Congress this week that a planned Iraqi-led operation to re-take the city of Mosul from Islamic State militants is unlikely to take place this year. IS took over the city in June 2014, and for the past year and a half, Mosul residents have been held captive under its rule. VOA's Zana Omar talked to some families who managed to escape. Bronwyn Benito narrates his report.
    Video

    Video Scientists Make Progress Toward Better Diabetes Treatment, Cure

    Scientists at two of the top U.S. universities say they have made significant advances in their quest to find a more efficient treatment for diabetes and eventually a cure. According to the International Diabetes Federation, the disease affects more than 370 million people worldwide. VOA’s George Putic reports.
    Video

    Video NATO to Target Migrant Smugglers

    NATO has announced plans to send warships to the Aegean Sea to target migrant smugglers in the alliance's most direct intervention so far since a wave of people began trying to reach European shores.
    Video

    Video Russia's Catholics, Orthodox Hopeful on Historic Pope-Patriarch Meeting

    Russia's Catholic minority has welcomed an historic first meeting Friday in Cuba between the Pope and the Patriarch of Russia's dominant Orthodox Church. The Orthodox Church split with Rome in 1054 and analysts say politics, both church and state, have been driving the relationship in the centuries since. VOA's Daniel Schearf reports from Moscow.
    Video

    Video Used Books Get a New Life on the Streets of Lagos

    Used booksellers are importing books from abroad and selling them on the streets of Africa's largest city. What‘s popular with readers may surprise you. Chris Stein reports from Lagos.
    Video

    Video After NH Primaries All Eyes on South Carolina

    After Tuesday's primary in New Hampshire, US presidential candidates swiftly turned to the next election coming up in South Carolina. The so-called “first-in-the-South” poll may help further narrow down the field of candidates. Zlatica Hoke reports.
    Video

    Video Smartphone Helps Grow Vegetables

    One day, you may be using your smartphone to grow your vegetables. A Taipei-based company has developed a farm cube — a small, enclosed ecosystem designed to grow plants indoors. The environment inside is automatically adjusted by the cube, but it can also be controlled through an app. VOA's Deborah Block has more on the gardening system.
    Video

    Video Exhibit Turns da Vinci’s Drawings Into Real Objects

    In addition to being a successful artist, Renaissance genius Leonardo da Vinci designed many practical machines, some of which are still in use today, although in different forms. But a number of his projects were never realized — until today. VOA’s George Putic reports.