The newly-formed government of Africa’s newest state, South Sudan, has pledged its support to add mass to the private sector in the united kingdom. It has ambitions to advertise growth and economic development through public-private partnerships and dialogue with existing business leaders in the united states.
This ambition was created clear at the workshop that’s organized with the South Sudan Business Forum (SSBF) in partnership while using International Finance Corporation (IFC) with the World Bank Group in September 2011. Elizabeth Majok, the Undersecretary within the Ministry of Commerce said “The President himself is focused on nurturing the individual sector; the non-public sector should now play its role and spur economic growth in the united states”. Their plans include passing four Bills that “when enacted, plays a major role in streamlining the business enterprise environment in South Sudan” she concluded.
There a variety of, some are weighty. The legacy of 22 many years of internal strife has had its toll. South Sudan features a real hurdle to conquer in skills development, they urgently need educated and trained workers had to run the newest government. Estimates with the literacy rate show only 27 percent, one on the world’s lowest which means it will be a good road.
A new complication is the fact that Juba, the current centre of government and industry, is just too small and the us government intends to produce a new city and relocate the main town to Ramciel, 250 km northwest of Juba. This is causing some consternation in operation circles, especially with Kenyan businesses that are set up on Juba.
In its birth of independence the continent is still experiencing security issues as well as with rampant inflation.
Trade with Kenya along with other neighbouring states
Lack of rail infrastructure is hampering many growth initiatives along with problems accessing routes from the Khartoum. This landlocked country provides the disadvantage of no having access to a port while it clears almost all of its imports through Mombasa in Kenya. 80% of South Sudan’s trade is to use East Africa countries, the key country is Uganda (also landlocked) closely as well as Kenya.
However, talks are continuing together with the oil majors in order to connect to the main fuel pipeline from Eldoret to Mombasa which will improve export possibilities to Kenya, Uganda, Congo, Rwanda, Burundi, Tanzania and Ethiopia.
The banking sector in South Sudan is pretty lively, the us govenment is taking circumstances in one along with the Family Bank of Kenya are responsible for a play for an additional pair. The four main banks are potential acquisitions with the more established finance houses inside East Africa region who is able to see $$ signs.
It is predicted that South Sudan will sign up for membership in the East Africa Community (EAC) around next year.