South Sudan is seeking a $250 million loan from Afreximbank to finance its response plan against the coronavirus pandemic. The information was reported on August 24 by Lily Albino Akol (pictured), the Deputy Minister of agriculture and food security.
The new resources will, according to her, help close the deficit in the country’s revenues. Part of the money will also fund the peacekeeping strategy and the implementation of job-generating infrastructure projects.
“We will look at the implementation of the peace agreement, the fight against Covid-19, and food security in terms of availability of necessary commodities in the market as well as agricultural production,” the minister said.
Despite its huge oil reserves, South Sudan has been experiencing a dire economic and social crisis, aggravated by the conflict. Observers accuse the government of making use of its revenues to finance the civil war that has been tearing the country since 2013.
According to Minister Akol, the finalization of the loan agreement with Afreximbank is subject to the adoption of certain measures by the government.
Moutiou Adjibi Nourou
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
MTN Mobile Money Zambia partnered with Indo Zambia Bank to enable payments via bank POS terminals....
UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Panic buying over fuel shortages drives long queues and temporary stockouts at Kinshasa gas stations. Authorities affirm stable fuel supply and...
Orange Côte d’Ivoire launched “Ma Box Internet” to enable self-management of fiber services via mobile. The app allows users to monitor connections,...
PIDG invests €4.3 million in Afreenergy Solar to expand commercial and industrial solar solutions in Senegal. The project targets 30 MW of...
by Sophie Kafuti, General Manager for Visa in the DRC For years, efforts to modernize payments in the Democratic Republic of the Congo have focused...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...