Juba, January 4, 2017 (SSNA) — The government of South Sudan has received a financial offer from a mysterious European financier after reports on the ground suggest that many requests by the young nation to secure financial assistance from foreign donors have been turned down, documents leaked to the South Sudan News Agency (SSNA) have revealed.
Suiss Finance Luxembourg AG, the mysterious company in question arranged the US$105 billion lifeline deal for South Sudan’s government budget and project support. Documents show the agreement was made through Suiss Finance Luxembourg AG’s Ugandan finance representative who goes by the name Moses M. Engadu, documents have shown.
In the 1st week of December, Suiss Finance Luxembourg AG’s director, Rene A Cortez, wrote a letter to Kiir explaining the offer and said the money could be increase if Juba executed the deal, adding that the money will be transferred from an entity to a trust account of Suiss Finance Luxembourg AG and Cortez’s company would then released the fund to the Central Bank of South Sudan.
“Suiss Finance Luxembourg AG offers the Republic of South Sudan initially €10 billion, which can be increased up to €100 billion. After duly executing the agreements and supporting instruments (signed by your minister of finance and endorsed by the Central Bank Governor), and with your co-operation, the 10 billion euros can be created and transferred into a Suiss Finance Luxembourg AG trust account to be held in the Central Bank of South Sudan between 30 and 90 days,” Cortez wrote.
Mr Cortez proposes that uses the financial package to finance projects through joint ventures in oil, infrastructure, energy, transportation, and demands safekeeping receipts, foreign exchange, and natural resources trading as part of the agreement.
A confidential government source who demanded anonymity because of the sensitivity of the case told the SSNA that President unconditionally accepted the offer and vowed to fulfill the requirements stipulated in the pact. The source added Juba is pleased with Uganda.
“This financial assistance is possible because of the tireless work Uganda has been doing on behave of the Republic of South Sudan. We thank President Museveni and his government for standing with us these difficult financial times,” the source told the South Sudan News Agency in Juba Wednesday.
The Source also disclosed to the SSNA that Kampala and Juba started looking for private financial help since October when it was clear the United States was pursuing an arms embargo against South Sudan and targeted sanctions.
South Sudan faces economic collapse after financial donors withdrew their support due to the ongoing civil war.
24 Comments. Leave new
You can’t donate a country under heavy political turmoil such lucrative amount since there is no financial accountable is carried, most of which is used for buying weapons for killing our innocent civilians and money used for development is being diverted to individual pockets. Please donors, be careful while donating such country full of corruption and suffering from financial mismanagement.
Hey Dude (Dragi alberto levi)
Read the sentence before you rush on criticizing the opportunity South Sudan can have.
” Mr Cortez proposes that uses the financial package to finance projects through joint ventures in oil, infrastructure, energy, transportation, and demands safekeeping receipts, foreign exchange, and natural resources trading as part of the agreement.”
Now, have you understood? It is simply a money to be invested on different sectors thru joint veniture with the donor. Therefore as long as the donor is an equity shareholder, no money will be wasted and that it will be invested into money generating and infrastructure projects. This is not for covering government budgets etc. So it is not FREE MONEY AS YOUR EAR IS ALWAYS USED TO. WE NEED TO THINK OUT OF THE BOX WE SOUTH SUDANESE.
Any money that flows to the purse of illegitimate government is money going to be used for war efforts against our innocent people. Who benefits from the infrastructure under a despot. Neither do we get anything from petroleum sale. The exploitation and sale of petroleum by Kiir government is a curse to South Sudan because the money got from that sale is used to purchase war materials. The money does not go to hospitals, schools and people. So need for money to fund war against the innocent people of South Sudan.
this is misleading sir
You are totally 100% right on this brother Dragi. The president who plays game and killing south Sudanese is Yore Museveni who fools the world donors to help so that he and the dull president of south sudan, Salva kiir mayardiit will buys guns and amunitions to destroy Nuer society for their hate to Dr. Machar. This issue needs to be addressed by all African leaders to look into destruction these two idiots leaders do to young country. It’s pathetic what these two are doing to young country. Indoctrination of brainwashing the world donors need to be prove wrong, because all the moneys they beg are the one they gave to Jieng councils of Elders to kill tribes in South sudan. Over all, I am here by concluding that let all the donors keep their money. I am here telling that your moneys are the one killing us in South sudan. Suspense your so that dinka tribe of salva kiir will come on table for negotiation they have no money to buy amunitions to kill south Sudanese citizens.
Sorry you are misinterpreting the case and at the same time you are using your arrogant mind to talk of something you just assume to be fact bt in actual sense you got no evidence to convince us all so don’t just assume it like that
Dream on, this I a pipe dream without any real facts. The entity in Luxemburg does not exist. Another Kiir propaganda ploy that everyone is laughing about. Perhaps he can dupe someone to provide more Landcruiser V8’s rattling the fake 100 billion dollar document in front of their eyes. Anyone else understands and laughs at Kiir.
How
what is that $105b for? financing what kind of budget? military hardware may be, at the moment I don’t think a big chunk of the current government budget is anything other than military hardware. Let me hope the huge money wont caused disunity in the military & I pray that the money could be used to demilitarize the country and also woe SPLA-IO to abandon rebellion & join government in peace building and development in the young nation.
We hope things to be better
I wish the government to open eyes on these huge amount of money not to be stolen by gangs, looters and corruptees.
Money and Oil can be a curse in our country. What investment will the ordinary people gain from before the money disappears. We have seen this Movie before, only to repeat itself again.
Please donor iam very happy with such big amount of money to given to south sudan ,i hope it will improve economic problem.but we need proper accountability to reduce level of coruption.Thank you for supporting our country
it will change economic situation in south sudan
$105 billions to destroy South Susan? To auction the entire nation resource? To destroy the future generations? While the country has no peace? Who demon idea is this? Jaang is it? Shortsighted Dinka, huh? Well, what else demonic left for them to do ruins the country? I also blame IO leadership for allowing a dead Jaang government to still kicking. Authorized nationwide battle for 2 weeks to get rid of devil and it angels for God sake! For the country sake!
Pray for the best.
I trust without any economic project proposal and plan the Fund not going anywhere. It’s be lends to develop people and country economics
Comment *it was just last week but one when 280m dollars got lost in the office of the preso.where re we going to keep this huge amount?maybe state house again,what happen to the same cats,mice,bats and wind that we dont deny? late us be wise and think twice.
This is a total destruction if such a huge amounts of money goes to the tribal and corrupted key figures and tyranny regime in Juba, a than there will be no single person from others tribesmen or woman standing on the road side in Juba, believe me.
For Equatorians.
Comment *if people are denying donation to their country, what are they looking for really?. anyway traumatization is on. so I can’t blame them. what we need is peace and accountability for that money.
Many South Sudanese are pathetic, become emotional whenever they read nonsense.
How about taking time, not rattling stupidity while validating infos from other sources?
No surprise many will die total losers.
such corrupt leaders will steal it
I had learned English at Language Boot Camp, Japan(Yokohama). then I was dispatched to south Sudan as military interpreter/Translator for a while. I had been there for while… Honestly, I can’t think this will work out properly. I have seen and worked with numerous south Sudan’s governmental officials. None of them have been able to even show up on time for a business meeting or socials. You should know this… At Hundreds of time, Our peace agreements and contracts for infrastructure with the govermental office were suddenly terminated or postponed indefinitely. Yes, their government is full of corruption now….. The matter is neither money nor resource. Locals are against Locals (Denka to Noel). This is the primary cause how they have been taking advantaged by the United State and other greedy nations……..
do not mislead your man