NEW CURRENCY ONLY FROM NOW ON
The one month transition period of using both new and old outgoing currency notes in South Sudan came to an end during the week. After exchanging nearly 750 million US Dollars worth of old currency notes against the new notes introduced upon independence from the oppressive regime in Khartoum, the swap has been announced to be a success and the parallel use of old and new been discontinued.
Meanwhile has the newly appointed cabinet also been sworn in for ministers in the first post independence government in Juba formally taking office, continuing the work to build a new country.
Information has also been sourced from Juba that the government has made a principal decision to seek an oil outlet via Kenya through a pipeline to the coast, to be able to ship crude oil without being subject to constant blackmail by the former slave masters in Khartoum.
When becoming independent 75 percent of the oil deposits in the formerly united Sudan went South with the new country, and this may increase still more should Abyei opt to join the South instead of remaining with the North. That referendum though has been delayed several times and the regime in Khartoum only a few weeks ago sent in troops to occupy and arguably cleanse Abyei of those thought to vote for independence, when eventually the votes are cast.
A source in Kampalas oil sector however expressed some cautious confidence that the South Sudan may also wish to participate in the setting up of oil refining facilities to jointly process crude into the more lucrative white fuels which would command a much higher price on the world market and some of which could then be sent back to the South Sudan from a nearby facility at much lower cost. Watch this space.