African Energy Chamber, oil industry investors welcome South Sudan investment drive in South Africa
Johannesburg, South Africa, 22 April 2019: South African and African private-sector participants have a significant opportunity to invest in South Sudan and realise large commercial gains. With this view in mind, the African Energy Chamber is set to join Hon. Nhial Deng Nhial, South Sudan’s Minister of Foreign Affairs and International Cooperation and Hon. Salvatore Garang Mabiordit, South Sudan’s Minister of Finance and Planning, among others, for a meeting on April 24 at the Sandton Convention Centre in Johannesburg. The two cabinet ministers prior travelled to Washington DC, New York City and Dubai on a global investment drive, as part of a high-level delegation.Others in the South Sudan delegation include Hon. Onyoti Adigo Nyikwec, Minister of Agriculture and Food Security; Hon. Gabriel Thokuj Deng, Minister of Mining; Dr Abraham Maliet Mamer, Secretary-General, South Sudan Investment Authority; Dr Chol Thon Abel, Managing Director, Nilepet and Ceasar Marko, Chairman, South Sudan Petroleum Commission.The Chamber commended Afrexim Bank for providing a USD 500 million financing facility to fund power transmission, infrastructure and agricultural projects. It also commended South Africa President, Cyril Ramaphosa and Hon Jeff Radebe, South Africa Energy Minister for committing USD 1 billion in oil & gas and infrastructure projects in South Sudan.
The bankable deals should be closed quickly, as it would create opportunities for both the South African and South Sudanese people, the Chamber said.The Chamber said it believes South Sudan’s leadership also has an obligation to creating an enabling environment for investors to put more money into the country. To achieve the benefits, South Sudan needs to safely open up new oil blocks to exploration, especially to African investors, the Chamber said. It’s time to build and set up refineries; pipelines and urea, ammonia and fertiliser plants; power plants; large agricultural fields and technology hubs, the Chamber said.The Chamber said it believes that securing investments is not the problem. Investors need an enabling environment, it said, and we are spending a lot of money to help South Sudan achieve that. It is business that creates jobs and hope. Economic revival and business are the solution, not aid. Our leaders in government need to understand this. We cannot afford smallness in our drive for peace, investment and stability when what South Sudan and most of Africa really need are big pragmatic commonsense solutions.