{"id":54148,"date":"2024-03-06T10:04:31","date_gmt":"2024-03-06T10:04:31","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy"},"modified":"2024-03-06T10:09:51","modified_gmt":"2024-03-06T10:09:51","slug":"a-call-for-revitalizing-south-sudans-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy","title":{"rendered":"A call for revitalizing South Sudan\u2019s economy"},"content":{"rendered":"

DILL SHAGH <\/b><\/p>\n

Africa-Press – South-Sudan. <\/strong><\/span>In 2011, the birth of South Sudan brought forth a wave of optimism and pride among its people, as they embraced the opportunity to build a nation of their own. Economic players with regional significance flocked to the country, enticed by the promise of lucrative business and investment prospects. Some arrived without capital but swiftly raised funds in Juba, viewing South Sudan as an open basket of opportunities, essentially a capital-free zone.<\/p>\n

Initially, South Sudanese warmly welcomed these visitors, reciprocating the support received from the region during struggles against oppressive regimes in the North. Foreign banks were promptly established, and construction projects for roads and public infrastructure commenced. Intergovernmental and non-governmental development agencies continued their unwavering support. At the outset, the spirit of the liberation struggle united South Sudanese, transcending ethnic or demographic boundaries.<\/p>\n

However, with the passage of time, the initial euphoria gave way to challenges. Those who had fought passionately for freedom seemed to overlook the need for internal economic and financial freedom. The absence of a clear plan for human capital development became evident, as ordinary citizens, particularly women and youth, lacked skilled guidance and economic empowerment. Beautifully crafted laws, such as the \u201cInvestment Promotion Act, 2009,\u201d and the \u201cLabour Act 2017,\u201d outlined roles for foreign investors and specified employment conditions for foreign nationals, including percentages. Unfortunately, these laws remained largely unimplemented, either due to ignorance or intentional sabotage by authorities entrusted with overseeing their execution.<\/p>\n

To revive South Sudan\u2019s economy and realize the potential envisioned at its inception, a renewed focus on practical measures is imperative. Addressing human capital development, enforcing existing laws, and ensuring transparent implementation mechanisms are key steps toward reinvigorating the nation\u2019s economic landscape. Only through tangible actions, aligned with the practical needs of the population, can South Sudan truly achieve the economic revival its citizens yearn for.<\/p>\n

The return of South Sudanese from the diaspora and northern Sudan marked a complex reintegration, influenced by diverse cultural backgrounds and practices. While some returned with positive attitudes toward economic and nation-building efforts, others harboured reservations. The transition to a new state, where essential services such as employment opportunities, healthcare, clean drinking water, and education were lacking, proved challenging for nearly everyone.<\/p>\n

The absence of anticipated basic services shattered many hopes, leading to widespread trauma and helplessness. This chronic frustration and mental unconsciousness became a breeding ground for intruders and non-liberators who sought to undermine the spirit of the liberation struggle. The competition for limited resources and job opportunities in public, private, and NGO sectors strained social fabrics, disrupting peaceful coexistence. Nepotism surged, with those in positions of influence favouring foreigners over fellow citizens, forgetting the common goals and shared challenges faced on the road to freedom and equality.<\/p>\n

Those in decision-making positions, particularly in public and private sectors such as oil companies, financial institutions, and NGOs, chose to disempower their compatriots for meagre kickbacks from foreign nationals. South Sudanese consumers, meanwhile, hesitated to support local entrepreneurs in the market. Securing rental or leasing agreements for business locations became a near-impossible task, leaving many South Sudanese without strategic access and subjected to discriminatory rental prices by foreigners with leasing privileges.<\/p>\n

Commercial banks, under the oversight of the Central Bank of South Sudan (CBSS), failed to extend credit facilities to nationals, despite the possession of necessary collaterals. Instead, these opportunities were granted to foreign nationals, placing asset owners at a disadvantage. International non-governmental organizations (INGOs) exhibited reluctance to employ qualified nationals who had received education overseas or at reputable local universities. Instead, they favoured less competent individuals, potentially to ensure a lack of interference in decision-making processes critical to the country\u2019s progress.<\/p>\n

Addressing these systemic issues is crucial for South Sudan\u2019s economic development. Inclusivity in decision-making, fair access to resources, and support for local businesses are essential for fostering a sustainable and equitable future for all citizens.<\/p>\n

The Central Bank of South Sudan (CBSS) finds itself continually injecting hard currencies into an economy dominated by foreigners, leaving our citizens at the mercy of market dealers. These dealers, unchecked by the CBSS, can manipulate the circulation of local currency, exacerbating the challenge. Countless checkpoints across the country, demanding cash and goods from traders, further drain resources without accountability, hindering economic growth.<\/p>\n

To rectify these issues, I offer several recommendations:<\/p>\n

1-Re-introduction of the Letter of Credit (LC): To mitigate excessive circulation of hard currencies, such as the US Dollar, Euro, and Sterling, South Sudan should discourage or limit cash transactions for imports. Utilizing correspondent banking and international transfer systems would reduce hard currency injections, supporting the appreciation of the local currency.<\/p>\n

2-Government as an Active Market Participant: Establish a government-owned corporation under the Ministry of Finance and Economic Planning (MoFEP) to actively participate in the market. This entity can import subsidized goods and services, available only in designated government facilities, fostering fair competition and potentially reducing prices.<\/p>\n

3-Promoting Production and Manufacturing: To strengthen the local currency and enhance competitiveness, the government should spearhead or facilitate national companies in producing and manufacturing goods and services for both domestic consumption and export.<\/p>\n

3-Harmonizing Revenue Collection: The National Revenue Authority (NRA) should exclusively handle revenue collection, allocating percentages to other institutions at various levels to ensure a standardized system.<\/p>\n

4-Accountable Financial and Natural Resources Management: Strengthening financial and natural resources management is crucial, requiring transparency and accountability to promote economic stability.<\/p>\n

5-Infrastructure Development: Prioritize the development of roads and highways, especially in economically significant areas, facilitating the efficient movement of goods and services.<\/p>\n

6-Boosting Agriculture, Fisheries, and Tourism Sectors: Maximize the potential of farming and fisheries on a large scale to boost GDP, and invest in developing the tourism sector to attract both national and foreign tourists.<\/p>\n

In conclusion, these recommendations aim to address the existing challenges, fostering sustainable economic growth and empowering South Sudanese citizens.<\/p>\n

 <\/p>\n

Source: Radio Tamazuj<\/b><\/p>\n

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

DILL SHAGH Africa-Press – South-Sudan. In 2011, the birth of South Sudan brought forth a wave of optimism and pride among its people, as they embraced the opportunity to build a nation of their own. Economic players with regional significance flocked to the country, enticed by the promise of lucrative business and investment prospects. Some […]<\/p>\n","protected":false},"author":84,"featured_media":54147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[234,265,233],"class_list":["post-54148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nA call for revitalizing South Sudan\u2019s economy - South Sudan<\/title>\n<meta name=\"description\" content=\"In 2011, the birth of South Sudan brought forth a wave of optimism and pride among its people, as they embraced the oppo ...\" \/>\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\/a-call-for-revitalizing-south-sudans-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A call for revitalizing South Sudan\u2019s economy\" \/>\n<meta property=\"og:description\" content=\"In 2011, the birth of South Sudan brought forth a wave of optimism and pride among its people, as they embraced the oppo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy\" \/>\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=\"2024-03-06T10:04:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-06T10:09:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/03\/sm_1709707141.494379.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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=\"5 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\/a-call-for-revitalizing-south-sudans-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"A call for revitalizing South Sudan\u2019s economy\",\"datePublished\":\"2024-03-06T10:04:31+00:00\",\"dateModified\":\"2024-03-06T10:09:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy\"},\"wordCount\":992,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/03\/sm_1709707141.494379.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/a-call-for-revitalizing-south-sudans-economy\",\"name\":\"A call for revitalizing South Sudan\u2019s economy - 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