Gulf tycoons offer to clear South Sudan’s debts if allowed into energy sector

JUBA – A group of businessmen from Gulf’s Kingdom of Bahrain have offered to clear South Sudan’s accumulative debts if they are allowed to operate in the country’s energy sector, according to a statement issued by the presidency.

According to the statement, the presidency said President Salva Kiir on Thursday held a meeting with a high-level delegation of Bahrain business tycoons and discussed economic cooperation which they said would help South Sudan’s economic recovery.

“President Salva Kiir Mayardit has today (Thursday, 16th June 2022), received and held a meeting with a delegation of Business Associates from the Kingdom of Bahrain led by Mr. Fawzi Al Aradi, the Managing Director for Capital Impact W.L.L and Mr. Dariusz Cichocki, Chief Executive Officer for Getka,” the presidency said in the statement.

South Sudan’s finance minister Agak Achuil said following the meeting with the visiting delegation focused “on the areas of economic cooperation and they are going to sign the Memorandum of Understanding between the Government of South Sudan (Ministry of Finance and Planning) and Capital Impact W.L.L with its Joint Venture Partner Getka Energy Services LLC to further strengthen the business relations between the two Countries.”

The presidency statement said “the delegation expressed interest to reduce Country’s outstanding debt by consolidating and paying down loans with energy resources, while strengthening energy stability and increasing community access to clean drinking water, with additional focus on planning initiatives to improve public health, sanitation, and other areas of mutual importance to the community and the Republic of South Sudan”