April 18, 2019 [Oil Review] – In his keynote address, Benedict Oramah, president of the African Export Import Bank (Afreximbank), announced that the bank has provided a US$500mn financing facility to the government of South Sudan.
“We want to help South Sudan make the investments it needs to develop,” he said.
The majority of the funds will go towards quick impact projects and fund advisory services in the power transmission, infrastructure and agricultural projects.
Oramah added that this new facility was separate from the US$200mn facility the bank has provided over the previous two years for agricultural, oil and infrastructure projects.
“We are seeing a country beginning to rise from the ashes and offering opportunities to its people. Afreximbank will support those who want to go to South Sudan,” he stated.
Melissa Cook, managing director of African Sunrise Partners, acting as moderator for the event amplified the call to invest in the future of South Sudan. “It is not the easiest place to go into, but worth it. My banking clients are seeing demand for credit on the rise. Companies have more confidence in their future and are starting to borrow more. They are seeing improvements on the ground,” she noted.
Prominent among the entities who attended were executives representing Orrick, DSC Dredge, Bechtel, APR Energy, Kearney Africa and Northern Resources.
Welcoming the audience of US executives, bankers and investors, South Sudan’s minister of foreign affairs and international co-operation, Nhial Deng Nhial, assured the audience that the country is at peace and is now open for business. The government and people of South Sudan were eager to restart the industries that were put on hold by conflict.
The minister concluded his address by explaining that the Investment Roadshow was an opportunity to ask any questions of the delegation.
“The government of South Sudan is a strong believer in the power of private enterprise to spur economic growth and deliver socio-economic development. This (Roadshow) is a golden opportunity to entice some of you to take a closer look at the investment opportunities available in South Sudan. To come take a look at what will be Africa’s newest success story,” he explained.
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