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South Sudan Sees $2 Billion in Oil Investments as Just the Start

SOUTH SUDAN (Capital Markets in Africa) – Recent pledges of $2 billion in investment for South Sudan’s oil may be just the start, with the war-torn nation expecting further agreements in early 2019, its petroleum minister said. Ezekiel Lul Gatkuoth’s prediction comes as the African nation’s warring sides prepare to form a power-sharing government in the latest bid to end five years of conflict. The country, home to sub-Saharan Africa’s third-largest crude reserves, is banking…

War Tamed, South Sudan Faces New Hurdle: Luring Vital Investment

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LAGOS (Capital Markets in Africa) – South Sudanese authorities, eager for investment after a five-year civil war, vowed to meet international companies’ needs for foreign exchange, shortages of which forced Anheuser-Busch Inbev SA’s unit to close. The Investment Authority’s pledge comes as the oil-producing East African nation enacts a peace deal and pursues international financing to overcome an economic crisis that saw inflation exceed 200 percent. Units of both MTN Group Ltd. and Kuwait’s largest mobile-phone provider are among the…

South Sudan Rebel Attacks Kill 34 People Since Beginning of Year

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South Sudan (Capital Markets in Africa) – Attacks by rebel groups in South Sudan killed 34 people in the first three days of this year even as warring parties agreed in December to cease hostilities, according to a military official. Three attacks in the south of the country by rebels loyal to former Vice President Riek Machar and the army’s ex-deputy chief of staff, Thomas Cirillo Swaka, left six assailants dead Wednesday while an ambush on traveling…

African Lender Mulls U.S. Bond Sale to Fund Trade Financing

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DAR ES SALAAM (Capital Markets in Africa) – Trade & Development Bank, a trade financier with operations in 21 African countries, will hold an investor roadshow in the U.S. next year to prepare for a possible Eurobond sale, Chief Executive Officer Admassu Tadesse said. TDB completed a promotional campaign in Gulf states last month, where it’s in the process of finalizing $200 million of funding, Tadesse said in an interview Thursday at his office in the…

South Sudan Targets Doubling Oil Output in 2018, First Refining

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SOUTH SUDAN (Capital Markets in Africa) – South Sudan targets more than doubling oil production to 280,000 barrels per day next year as it restarts output that was suspended at some fields because of an almost four-year civil war. The government is seeking to restore production to about 150,000 barrels per day by the end of 2017, from 130,000 barrels, Petroleum Minister Ezekiel Lul Gatkuoth told an energy industry conference in the capital, Juba, on Wednesday….

Gunships Strike South Sudanese Rebels as Week-Long Battle Rages

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SOUTH SUDAN (Capital Markets in Africa) – South Sudan’s army used helicopter gunships to fend off rebels in a north-eastern state as fighting entered a second week, underscoring the challenge facing regional mediators trying to resuscitate a peace deal to end the almost four-year civil war. Rebels are attacking army garrisons in Waat town, Bieh state, prompting the government to use “all in its power” to fight them, Defence Minister Kuol Manyang Juuk said Tuesday by phone…

Risky Roads a Boon for Airlines in War-Ravaged South Sudan

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SOUTH SUDAN (Capital Markets in Africa) – Ayaak Deng’s first-ever flight let her skip over a hundred miles of bloodily contested South Sudan and visit family she hadn’t seen in a year. It’s the kind of trip that’s revitalizing small airlines that initially struggled because of the almost four-year civil war. The airport in the capital, Juba, has recorded about 1,000 domestic passengers a day this month, more than five times the average in the first half…

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