Nairobi — The Bank of South Sudan Governor, James Alic Garang, has urged Kenyans to invest in the country.
Garang gave an example of the property market in cities like Juba, among others, which he added provided huge investment opportunities to investors with expected huge returns.
Over the past few years, South Sudan has faced political and security instability that has caused it to lose its economic balance. However, the country is now trying to resurrect its economic muscle through partnerships with regional and global players.
Garang also welcomed other members of the East African community for investment opportunities in the country.
He assured investors that the South Sudanese government has made it easier for them to invest in the East African nation.
In recent years, Kenya and South Sudan have made strides in mending their trade and economic knots.
In mid-march this year, South Sudan Revenue Authority Commissioner of Customs, Adout Ajang, guaranteed the Kenya Ports Authority (KPA) managing director, William Ruto, maximum security at the Kenya-Sudan border and on South Sudan roads for Kenyan drivers transporting cargo into the country.
Furthermore, in February, Roads and Transport Cabinet Secretary (CS) Kipchumba Murkomen held talks with his South Sudanese counterpart Simon Mijok to address a longstanding problem that has stalled the construction of the Nadapal-Juba Road, whose completion is set to enhance seamless direct trade, reduce transportation costs on exports and imports, and reduce travel time for traders, among others.
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Statistics show that South Sudan is Kenya's second-biggest importer from Kenya after Uganda at the Mombasa Port.
Nonetheless, Garang said that real estate investment is another field in which Kenya and South Sudan need to collaborate.
"Investing in South Sudan is very easy. All you have to do is just bring your resources, look for a few local partners, register a company, and boom, you are an incorporated institution. And then you invest in real estate," he stated.
Furthermore, he urged other African countries to also consider investment in other sectors such as gold production and banking, which have remained untouched since the conflict started.
"Some of the states are well known for having a gold reserve, although not many people have ventured into those previously because of the conflict that was preceding," he said.
"But now that the conflict has come to an end and the country is moving toward democratic elections in 2024, exploration, particularly in gold, could be one of those areas where investors are being called to engage."
