Browsing: Trading in South Sudan

Uganda is hoping to increase its trade ties with South Sudan following the completion and handover of the first phase of Nimule one-stop border post (OSBP) to the Juba government.

The Nimule one-stop border post (OSBP) is $5 million facility funded by the UK government through TradeMark East Africa (TMEA).

South Sudan customs officials will managed the Nimule one stop border post. While Elegu, the Ugandan side of the border has for a while now been operating as OSBP.

The Minister of Trade, Industry and Cooperatives, Ms Amelia Anne Kyambadde described the project as “a very important development” for not just South Sudan and Uganda but the entire EAC regional trade.

“With opening of the Nimule OSBP, I expect an exponential rise in trade. We expect to grow our trade with South Sudan by close of the year by even $500million. We would like to see our traders form orderly …

South Sudan traders and businesses are hoping for intermission in the foreign exchange market after the Bank of South Sudan said it would introduce dollars into the market to protect the local currency.

Since after the payment of several months of salaries in arrears in September, South Sudan pound has been weakening against the dollar.

“The pound has lost value in the past two months due to the impact of the recent payment of salaries,” said Central Bank Governor Dier Tong.

About $115.2 million which is about 31 per cent of the currency in circulation was put into the economy for the payments.

Also Read: AfDB funds South Sudan’s capital city power distribution system

In October, South Sudan’s government secured $400 million financings from the Africa Export-Import Bank to pay the salaries and finance infrastructure projects.

Elijah Wamalwa the managing director and CEO of Co-operative Bank of South Sudan said …