Category: Economy

Comprehensive political reform is the only way to address Sudan economic crisis

By Hafiz Mohamed
Sudan is facing multiple crises, mainly due to unclear political vision to tackle them, the current chronical economic problem is the manifestation of that. The Government of Sudan (GoS) decided to apply a package of measures to address the huge gap in its finances, most important components of the package is the increase of custom duties by over 200% and that will have an impact on the prices of most of goods by that they decided to liberalized the market by (…)


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South Sudan passes $584m 2018/19 fiscal year budget

June 17, 2018 (JUBA) – South Sudan cabinet on Thursday adopted a 82 billion South Sudan Pounds ($584 million) budget for the 2018-2019 fiscal year.
This year’s budgetary figure presented a 75% increase when compared to what was approved during the 2017-2018 fiscal year.
South Sudan’s information minister, Michael Makuei Lueth said the proposed budget is to be presented to MPs for approval next week.
It, however, remains unclear how the war-torn nation will finance its budget, given its (…)


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$4m earmarked to improve Uganda, South Sudan trade

June 3, 2018 (JUBA) – At least $4m has been set aside for the upgrade of key infrastructure connecting Uganda to South Sudan through Nimule border, TradeMark East Africa announced this week.
The money, an official told Uganda’s Daily Monitor, will help establish a one-stop border post at Nimule, help to upgrade the road infrastructure between the two countries in about six months, which will in turn improve trade.
The TradeMark East Africa South Sudan director, John Kalisa said the move (…)


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South Sudan’s Central Bank governor sacked

May 10, 2018 (JUBA) – The Governor of South Sudan’s Central Bank, Othom Rago Ajak has been fired and his deputy Tier Tong Ngor was on Thursday named as his immediate successor.
President Salva Kiir signed the decree removing Ajak, but no reason was given for his decision.
Since the outbreak of a civil war in South Sudan, inflation has been on the rise in an economy largely dependent on oil revenues.
The president appointed Ajak to be the Central Bank Governor in January last year. He (…)


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South Sudan president sacks finance minister

March 12, 2018 (JUBA) – South Sudan president, Salva Kiir sacked the country’s finance minister, Stephen Dhieu Dau on Monday evening.
Salvatore Garang Mabiordit Wol, a former technical advisor in the trade ministry, replaces Dau, the state-owned television (SSBC) announced.
It remains unclear why the South Sudanese leader sacked the opted to sack the finance minister, who was appointed minister in July 2016.
Analysts, however, attribute the president’s unexpected decision to the rising (…)


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Can fishing survive as a way of life along the River Nile?

Aziz Kidudu sits under the shade of a tree on a sunny afternoon weaving a basket. Using nylon and sisal fibres, the 39-year-old Ugandan is making dozens of baskets that he will use to catch fish in the River Nile. Yet, his way of life is under…

S. Sudan oil minister urged to retract “booming” economy remark

February 25, 2018 (JUBA) – A forum of South Sudanese civil society entities said they are frustrated by comments attributed to the country’s Petroleum minister, Ezekiel Lol Gatkouth in which he reportedly described the economy of Africa’s newest nation as “booming”.
Gatkouth made the remarks while appearing on the BBC’s Hard Talk program.
The group, in a statement, said the minister’s remarks were a total misrepresentation of facts on the ground and needed retraction.
“It is also a direct (…)


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Economic collapse in Sudan is rapidly accelerating

By Eric Reeves
The Central Bank of Sudan, which has only a very small amount of foreign exchanged currency (Forex), is reported today to have banned any non-governmental agent or business from using its own Forex for imports of any kind. One way or another, in other words, the National Islamic Front/National Congress Party regime is determined to arrogate to itself all Forex (also known as “hard currency,” currency not subject to the massive inflation rates presently ravaging Sudan).
This (…)


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Private sector key to S. Sudan economic growth: official

February 1, 2018 (JUBA) – The Joint Monitoring and Evaluation Commission (JMEC) Deputy Chairperson, Lt. General Augostino Njoroge has called on the business community in South Sudan to take on their critical role of being key drivers in the growth of the economy and in the quest for peace in the country.
He made the remarks at the closing of a two-day workshop on the Agreement on the Resolution of the Conflict in South Sudan (ARCSS) organized by JMEC and the Chamber of Commerce, Industry (…)


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U.S. dollar hits record high against Sudanese pound

January 29, 2018 (KHARTOUM) – The Sudanese pound on Monday has hit another historic low against the US dollar on the black market despite strict security measures put in place by the government since last November.
A trader in Khartoum told Sudan Tribune that the purchase price of the U.S. dollar reached 36,5 Sudanese pounds while the selling price settled at 37,00 compared to 34,5 and 35,00 on Sunday.
He added the dollar price continued to increase by one to two pounds daily since the (…)


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Africa Is Building Power Dams Big Time, And Risks Being Punished Heavily For It Down The Line

Ethiopia’s Grand Renaissance Dam will have an installed generating capacity of 6000MW. This is similar in size to the worlds largest nuclear power station, Japans Kashiwazaki-Kariwa plant.

The post Africa Is Building Power Dams Big Time, And Risks Being Punished Heavily For It Down The Line appeared first on Africapedia.

Africa Is Building Power Dams Big Time, And Risks Being Punished Heavily For It Down The Line

Ethiopia’s Grand Renaissance Dam will have an installed generating capacity of 6000MW. This is similar in size to the worlds largest nuclear power station, Japans Kashiwazaki-Kariwa plant.

The post Africa Is Building Power Dams Big Time, And Risks Being Punished Heavily For It Down The Line appeared first on Africapedia.

3.4 Million Kenyans Need Food Aid, 480,000 Children Hit By Acute Malnutrition: How Did It Get To This?

There have been wholesale staple food price increases of between eight and 32% above average in the urban markets of Nairobi, Mombasa, and Eldoret

The post 3.4 Million Kenyans Need Food Aid, 480,000 Children Hit By Acute Malnutrition: How Did It Get To This? appeared first on Africapedia.

They Have The Tech In Their Hands: The Farming Revolution In Africa Will Begin With Giving Youth A Voice

In northern Malawi 80% of women produce legumes, onions, maize and tobacco. In this same region, 20% of men come in at the end, to sell the produce and participate other income generating activities.

The post They Have The Tech In Their Hands: The Farming Revolution In Africa Will Begin With Giving Youth A Voice appeared first on Africapedia.

Sudan to link railway network to S. Sudan and Ethiopia

January 3, 2017 (KHARTOUM) – Sudan’s President Omar al-Bashir on Tuesday unveiled plans to build a railway system that links the country to landlocked Ethiopia and South Sudan.
“We will connect [Sudan’s] railway lines to Ethiopia,” al-Bashir said while inaugurating a new train line linking capital Khartoum to the city of Wad Madani, the capital of Sudan’s central El Gezira State.
“We also seek to link our railway to South Sudan so that it might serve as a transit hub with Kenya and Uganda, (…)


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South Sudan still owes Khartoum $1.3 billion in oil debt: official

December 5, 2017 (JUBA) – South Sudan still owes neighbouring Sudan, from which it seceded in July 2011, up to $1.3 billion as part of a 2012 deal both nations inked to end their disputes over oil matters.
The South Sudanese ex-deputy finance minister, Mou Ambrose Thiik told Reuters prior to his removal from the ministerial post on Friday last week that the figure was equivalent to eight years worth of oil revenues for South Sudan.
South Sudan got the lion’s share of the oil when it split (…)


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