The Governor of the Bank of South Sudan (BoSS), Hon. Johnny Ohisa Damian, has recently said that South Sudan is business-friendly and investment-ready during his remarks at the recent 8th edition of the ALM Africa Summit 2023. Which was held at The Dorchester Hotel, London, United Kingdom, on Tuesday, July 11th, 2023. With the theme New Opportunities for African Investments, Partnerships, and Collaborations.
The event brought together Policymakers, private sector leaders, and civil society leaders. Amongst others, from across Europe, the US, and Africa to discuss issues concerning the promotion of African trade and investments globally. Some of the speakers attending the event in London included Baroness Sandy Verma, member of the UK House of Lords. Lord Dollar Popat; UK Prime Minister Rishi Sunak. His Royal Majesty, Ogiame Atuwatse III; Olu of Warri Kingdom, Nigeria, who also invests in the gas and oil industries. As well as other political and policy leaders from across Africa, Europe, and the United States of America.
Governor of the Bank of South Sudan (BoSS), Hon. Johnny Ohisa Damian
In his remarks during the summit, BoSS governor Damian congratulated South Sudan on its 12th Independence Day on July 9th. “This is a wonderful experience, he said.” “As the youngest country, we had a successful investment conference in 2013, where we got over 40 billion dollars of commitment. Unfortunately, in December, war erupted in South Sudan, and all the investments disappeared.” Again in 2016, we went into conflict.
In 2018, the peace agreement was signed, and up to now the peace is holding and we are preparing for elections next year. This is a turning point for us.” He said the size of South Sudan is about 644,329 square kilometres, and 90% of the land is arable for agriculture. If we had engaged in agriculture, I am sure by now we would be feeding the whole of Africa, and we are going to do it.
South Sudan is Business-friendly and Investment-ready
“We are 12 million people, the country relies on oil exports, and we are the third largest sub-Saharan country in Africa after Nigeria and Angola in oil production, but still a lot of investments need to be done. Currently, we are producing about 150 to 170 thousand barrels per day. We have got about 3.5 billion reserved that needs to be tapped.”
Even with the changes that are happening in the world, countries are now moving out of fossil fuels. The governor noted, “We need to do that as quickly as possible to ensure that we catch up with the other countries. And we have huge potential because the Nile passes through our country. We don’t use it for agriculture. We need to put that to use, and this can only be done through foreign direct investment.” He added If South Sudan starts practising that now, “we will be able to put water to proper use.”
The Missing Piece
“South Sudan has potential hydroelectric and geothermal powers that need to be exploited. As a region, I think Ethiopia is working on the Renaissance Dam, Uganda is working on the Hydro Power also; is it not better for us to unite as the East Africa Region to start getting use of them?” In sports, the governor continued, “South Sudan has just qualified for the Basketball World Cup for the first time in history, and in our first trial, that is a biggest and great achievement not only for South Sudan but for the entire continent. We hope we win the world cup.”
Tourism and Sustainability
As I said earlier, there is an abundance of water resources, and fisheries are also available to be tapped. Coming to tourism, “I think what is known worldwide is about the migration of animals between Kenya, Tanzania, and Sarangani. But we have, I think, the biggest migration of white-eared cob, because it is only available in South Sudan and has been proven by the national geographic. And that is also an area we need to invest in.” There are agreements signed with Ethiopia and Uganda for South Sudan to start importing electricity from Ethiopia and Uganda.”
South Sudan is Business-friendly and Investment-ready
The BoSS governor underscored that South Sudan is very serious about implementing the peace agreement. And really wants to ensure that investment takes centre stage. He also noted that the elections next year will be free and fair. The President has expressed in his Independence Day speech that South Sudan urgently needs peace to open ways for foreign direct investment to come into the country. “I know there are a lot of challenges, but we must work hard as Africans; we start with our own. We need to see Ethiopia join the East African Community to make it a formidable negotiating block in the whole region.”
Within the region, “we are members of the East African Community, which has approximately 400 million people. With the joining of Congo, it has given us bargaining power to ensure that when we talk to investors outside, we talk as a region. Instead of talking as countries or individuals.”
He noted that this is just a brief update on South Sudan. Which is ready for investments, and “we hope next year we will be talking something different.”
Diplomats At The 8th Africa Summit London 2023
Hon. Johnny Ohisa Damain was at the colourful event alongside South Sudan’s Ambassador to the United Kingdom of Great Britain and Northern Ireland based in London, Agnes Adlino Orifa Oswaha. Other guests include Lord Dolar Popat, a Member of the UK House of Lords and the British Prime Minister’s Trade Envoy to Rwanda and Uganda. Baroness Sandy Verma, Member of the UK House of Lords. Hon. Renganaden Padayachy, Minister of Finance, Economic Planning, and Development, Mauritius. Rindra Rabarinirinarison, Minister for Economy and Finance, Madagascar. Hon. Seedy Sk Nije, Deputy Speaker, National Assembly Of The Gambia. and Hon. Fonati Koffa, Deputy Speaker, House of Reps, Liberia, among others.
Culled from an article by Larco Lomayat. This article was first published on the social media page (Facebook) of the Bank of South Sudan.
