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South Sudan signs MoU with Trade and Development Bank

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September 3, 2017 (KIGALI) – The Republic of South Sudan has signed a Memorandum of Understanding (MoU) with the Southern and Eastern African Trade and Development Bank in Seychelles.

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South Sudan minister Stephen Dhieu Dau (Getty photo)

South Sudan’s finance minister Stephen Dhieu Dau signed the MoU, witnessed by the President of Seychelles, Danny Faure, ex-Zambian president, Rupiah Banda and a number of finance ministers from the Common Market for Eastern and Southern Africa (COMESA).

The MoU was signed during the annual meeting for the vote of governors of the Trade Development Bank to be negotiated among the three parties for the Republic of South Sudan and Republic of Sudan to finance trade, particularly in the oil sector.

“The Trade and Development Bank is supporting the member states in the areas of providing the funding for the infrastructure, trade finance and social services projects”, said Dau in a statement.

The main objective of the bank is to support the member states in areas of economic and trade and integration in general, it added.

South Sudan will, in accordance to the MoU, enjoy benefits of being a member of the COMESA as well as Trade and Development Bank.

The war-torn nation joined the Southern and Eastern African Trade and Development Bank by signing the charter of the bank in December 2016 and was eventually endorsed by the Board of Directors in March 2017, becoming the 21st member of the Trade and Development Bank, formerly known as PTA Bank.

Founded in 1985 with its headquarters in Bujumbura, Burundi, the Eastern and Southern African Trade and Development Bank reportedly provides project and infrastructure finance, trade finance products as well as services in Eastern and Southern African countries.

(ST)

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  • 4 September 08:03, by Eastern

    This latest MoU just adds to the list of mortgages Kiir has secured on behalf of the clueless supporters towing his line...Money will be secured under the guise of infrastructure development when the same funds will end up in Russia or Belarus to purchase arms! Kiir has mortgaged South Sudan and South Sudanese...!

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    • 4 September 08:48, by South South

      Eastern,

      I am laughing at you. Are you very afraid from our army if they are well equipped?

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      • 4 September 08:59, by Eastern

        Did you just say army? Do you really know what constitute an army? Well, Ugandan shrewd soldiers turned businessmen and cashing in on the gullibility of Kiir and his handlers to direct all the country’s resources to the war effort with the false hope that victory is in sight. The armed opposition to Kiir and his tribal cabal is on the increase..

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        • 4 September 09:06, by South South

          Eastern,

          Your reaction here does not bother me. You are a rebel, you are against South Sudan and you want to destroy South Sudan. Anything you say does not sit well with me. Whether you like it or not, we have very strong army in our country which was listed last year among leading armies in Africa. Our business is to protect our country from enemies.

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          • 4 September 09:28, by Eastern

            South South,

            Whether or not my thoughts sit well with you is immaterial..I am opposed to Kiir’s tribal government that is mismanaging South Sudan. What his clueless followers try very hard to do in support of his misrule is our point of departure. The important thing here is, Kiir will not rule in peace and you are witness to that!

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            • 4 September 09:56, by South South

              Eastern,

              If there is peace in South Sudan, we will live in a beautiful country called South Sudan. If there is no peace and war is imposed on us, those wicked enemies will taste it from us, that why some of you are in DIASPORA, they are afraid of us.Country is moving on. MoU with regional banks, 240 students to China, our country is in a good shape. Someone will die outside the country.

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    • 4 September 11:35, by Kuch

      Eastern,
      Do you have any problem with Russia or Belarus? How about your so-called *IMF & World bank* that want to come & establish their banking cartels in our country & then they can come & siphon our riches back to their industrial parks in the US, the UK or Europe to be precise? And then blame the South Sudanese government is *corrupt & mismanaging their country’s economy* just>>>

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      • 4 September 11:42, by Kuch

        like they are currently doing in our country. The evils are the ones that have been encouraging *corruption & mismanagement of our country* while at the same times, the same evils are the same evils who have been trying to play games with our country & our people. Case in point, when the evils in the US, the UK, their UN, their NGOs, their evil juus & some of their dirts in between>>>

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        • 4 September 11:54, by Kuch

          accused the government South Sudan of stealing over $4 billion dollars, solely to enrich themselves. This has a lot of truth in it, but when Salva Kiir gave 75 letters to many of his former thieves to bring back the money they stole from the government of South Sudan & the South Sudanese people. Mr. Salva Kiir even asked his former thieves to deposit the money they shipped away from our country>>>

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  • 4 September 11:35, by Don-Don Malith Rual

    We need good roads n Eastern Africans railway link for Regionals trade link but investing money in bank will not help at all but big projects in term of infustrcutre will only be the way forward. FOR regional trade to excel we need the above mention services

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  • 4 September 13:07, by pabaak

    This is important to have African banks the development in Africa father than waiting for investors that are un willing to come or attached a lot of strings over their governments agreements. There were important message president Paul Kigame said during his inaugural address last month that African resources should not be outsourced therefore African banks should be embarked in development

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    • 4 September 13:12, by pabaak

      In order to see faster economic growth in Africa to catch up with other developing world

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    • 4 September 13:17, by pabaak

      Ops
      African development banks carried development in Africa rather waiting for investors unwilling to come ...

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  • 4 September 13:43, by pabaak

    Kuch and south Sudan
    I have seen you overwhelmed by responding to Esatern JubaOne this will distract you away from very important issues of the country me i don’t have time to response to them because two reasons first i see them as people don’t have constructive arguments where they can say something and others will have a say to get a solution there argument always start with Dinka and

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    • 4 September 13:55, by pabaak

      Finished with Dinka and so understand their motive do they think jiengs or will be moved out of South SUdan so they will be nappy or what?
      Secondly I don’t response to thier comments because I see them as people who are either have nothing to take away from us as south Sudanese nor have something to add to us in south Sudan

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