South Sudan seeks investors in Johannesburg, SA

Afrexim Bank is providing a USD 500 million financing facility to fund power transmission, infrastructure and agricultural projects.

South Sudan is one of the key exhibitors at the Sandton Convention Centre in Johannesburg seeking to woo investors for its energy sector.

With this exhibition, African private sector participants have an opportunity to invest in Sudan’s peace.

This week the African Energy Chamber (AEC) will join South Sudan’s Foreign Affairs Minister Nhial Deng Nhial and his Finance counterpart Salvatore Garang Mabiordit for South Sudan’s global investment drive.

The South Sudanese Cabinet Ministers and business leaders will meet with the African Energy Chamber and other investors at the close of a 4-city global investment drive that previously took them to Washington, New York and Dubai.

Afrexim Bank power transmission financing

The South Sudanese delegation is notably made up of ministers from Agriculture, Mining and the South Sudan Investment Authority Secretary-General Dr Abraham Maliet Mamer, Nilepet Managing Director Dr Chol Thon Abel, and South Sudan Petroleum Commission Chairman Amb. Ceasar Marko.

The African Energy Chamber has hailed Afrexim Bank for providing a USD 500 million financing facility to fund power transmission, infrastructure and agricultural projects.

“We also commend President Cyril Ramaphosa and his Energy Minister the Jeff Radebe for committing USD 1 billion in oil and gas and infrastructure projects in South Sudan,” states a statement by the Chamber.

The AEC adds that these deals should be closed quickly as they will create opportunities for both the South African and South Sudanese people.

“We are hopeful that the arrival of the South Sudanese delegation to South Africa will result in even more investment deals being announced,” said Centurion Law Group CEO and AEC Executive Chairman NJ Ayuk.

He added, “Johannesburg is the financial capital of Africa and I am bullish that we will be able to raise more money to secure and promote lasting peace and investment in South Sudan.”

Urea, ammonia, fertilizer plants

The Chamber believes South Sudan’s leadership also has an obligation to creating an enabling environment of investors to put more money into the country.

To achieve these great benefits, South Sudan needs to safely open up new oil blocks to exploration especially to African investors.

“It is time to build refineries, pipelines, urea, ammonia, fertilizer plants, power plants, large agricultural fields and set up technology hubs.”

South Africa USD 1 billion investment in South Sudan oil

In November last year, South Africa’s Central Energy Fund and South Sudan’s Nile Petroleum Corporation signed an energy-binding contract that could potentially see South Africa invest over USD1 billion in South Sudan’s oil and gas industry.

South Sudan hosted a three-day South Sudan Oil & Power 2018 conference in Juba from November 20-22 attracting stakeholders from within and outside Africa.

The country is making drastic progress in the hope of awakening the struggling economy through peace agreements which assure potential businesses of security for their investments.

In January, South Sudan’s Ministry of Petroleum entered into a strategic partnership with the AEC for a technical assistance cooperation agreement to strengthen the country’s capacity to manage its hydrocarbons sector and wealth.

The country has a longer petroleum industry experience than the rest of East African countries and has over the past year demonstrated a commitment to peace.

This gives the country an opportunity to build long-lasting economic development and strengthen its engagement with the regional and international investment community.

African entrepreneurs in South Sudan

Recent discussions between AEC, South Sudan President Salva Kiir and his cabinet agreed that economic growth must be front and centre of the peace and recovery efforts of South Sudan.

AEC believes that securing investments is not the problem.

“Investors need an enabling environment and we are spending a lot of money to help South Sudan achieve that.  It is business that creates jobs and hope. Economic revival and business are the solution; not aid. Our leaders in government need to understand this. We cannot afford smallness in our drive for peace, Investment and stability when what South Sudan and most of Africa really need are big pragmatic common sense solutions,” added Ayuk.

The AEC says it will support South Sudan and its people while rejecting narrow agendas.

“We call upon all of African Energy Investors and corporate leaders to do the same. The Chamber will stand squarely with those who do.”

AEC is encouraging all partners and interested parties, especially African entrepreneurs, to attend the investment drive and seal business deals with South Sudanese public and private sector leaders who will be present at the Sandton Convention Centre in Johannesburg on April 24, 2019.

You can also read about South Sudan’s risk insurance hitting USD27.62 million and the country’s non-oil revenue hitting a new record.