{"id":30431,"date":"2023-01-13T14:33:33","date_gmt":"2023-01-13T14:33:33","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy"},"modified":"2023-01-13T15:53:05","modified_gmt":"2023-01-13T15:53:05","slug":"economist-says-most-south-sudanese-not-creditworthy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy","title":{"rendered":"Economist says most South Sudanese not creditworthy"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>An economist has described most South Sudanese as \u201cunworthy\u201d to receive loans from commercial banks to start up businesses.<\/p>\n

Dr. Ahmed Morjan, who is also a lecturer of economics at the University of Juba, believes many people in the country lack awareness about the provision of loans as regulated by the Central Bank.<\/p>\n

Morjan said many South Sudanese do not have collateral security to secure a loan from a bank, citing they are not credit worthy.<\/p>\n

\u201cI have seen that most South Sudanese are not credit worthy, and banks work with people who are reliable upon to take loans and will repay that loans in time, in South Sudan it is not different here,\u201d he said.<\/p>\n

\u201cTo receive loans, you must be credit-worthy and you must have some collateral security. So most South Sudanese do not have appropriate collateral securities to provide in order to get those loans, coupled with the culture, we talk of the culture of the people.\u201d<\/p>\n

A creditworthy person or company is considered suitable to receive credit, especially because of being reliable in paying money back.<\/p>\n

According to the economist, foreign nationals benefit more from the commercial banks in the country than the nationals.<\/p>\n

\u201cIf you look at the general banking system, the provision of loans are not very much effective in the economy, and hence many people outside there, do not even know that the central bank here has got a fixed rate of interest that is operating in the country.\u201d<\/p>\n

\u201cBut with these foreign companies have the guarantees, they have the collateral securities that they can provide to the banks such that they get the loans, and they are quite aware of how banking system operates. Unfortunately in South Sudan most people are not aware of that.\u201d<\/p>\n

Dr. Ahmed Morjan\u2019s remarks come days after the Bank of South Sudan released a statement encouraging commercial banks to increase lending to the private sector to at least 40 percent of their total deposits.<\/p>\n

The bank also resolved to maintain its rate of interest at 12 percent per year, and the minimum reserve requirement ratio at 20 percent of commercial bank deposits both in local and foreign currency.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. An economist has described most South Sudanese as \u201cunworthy\u201d to receive loans from commercial banks to start up businesses. Dr. Ahmed Morjan, who is also a lecturer of economics at the University of Juba, believes many people in the country lack awareness about the provision of loans as regulated by the Central […]<\/p>\n","protected":false},"author":84,"featured_media":30430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-30431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nEconomist says most South Sudanese not creditworthy - South Sudan<\/title>\n<meta name=\"description\" content=\"An economist has described most South Sudanese as \u201cunworthy\u201d to receive loans from commercial banks to start up business ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economist says most South Sudanese not creditworthy\" \/>\n<meta property=\"og:description\" content=\"An economist has described most South Sudanese as \u201cunworthy\u201d to receive loans from commercial banks to start up business ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-13T14:33:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-13T15:53:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/01\/postQueueImg_1673607820.64.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Economist says most South Sudanese not creditworthy\",\"datePublished\":\"2023-01-13T14:33:33+00:00\",\"dateModified\":\"2023-01-13T15:53:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy\"},\"wordCount\":378,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/01\/postQueueImg_1673607820.64.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-says-most-south-sudanese-not-creditworthy\",\"name\":\"Economist says most South Sudanese not creditworthy - 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