Elisabeth Janaina
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“Zambia Revenue Authority is a real model for South Sudan”, MP
JUBA, 20 May 2013 - A three-member delegation that represented South
Sudan in the recently concluded Network of Reformers Conference in
Lusaka Zambia, has urged the government to emulate the Zambian Revenue
Authority system for its “efficiency and transparency” in order to
support private sector development in the country.
Hon. Bul Andrew Cosmas, MP and member of the Committee of Commerce,
Energy and Mining at the National Legislative Assembly said a
landlocked country like South Sudan needs an efficient and transparent
revenue collection mechanism that cuts away costs associated with time
wastage at clearance points.
Since its inception in 2011, Hon. Bul said the well computerized and
networked Zambia Revenue Authority (ZRA) system has worked for Zambia
which he said according to ZRA officials has resulted in increased
revenue collections over the years.
“South Sudan is challenged that we must learn from the example of
Zambia Revenue Authority”, Hon. Bul commented. To avoid congestion and
time wastage at entry points for instance, Hon. Bul said importers can
fill pre-clearance forms which allow them to proceed with the goods
into the country as clearance process is going on. He explained that
upon arrival, they [importers] can then clear their goods at any
revenue office in the country’s capital.
Hon. Bul Andrew Cosmas( R) and Malok Program Coordinator of South
Sudan Business Forum talking to the IFC team in Juba.
[Photo: Matata Safi]
An initiative of the International Finance Corporation’s Investment
Climate Department, the Network of Reformers seeks to bring together
experts from the East and Southern African countries with
participation of international experts to share success stories as
well as challenges in a way that can address the pitfalls of the
private sector development in the region.
Speaking to a team from the IFC office Juba at the National Assembly
on May 13, the group urged IFC to organize more of such conferences to
expose South Sudanese technocrats from different field to benefit the
young country.
The delegation included Hon. Bul, Hon. Biong Pieng - Deputy Registrar,
Business Registry, and Mr. Malok Malok, Program Coordinator, South
Sudan Business Forum. Next year’s conference will be held in Kigali
Rwanda with the delegation asking that South Sudan bids for Juba to
host the 2015 conference.
Reported by Matata Safi
DRC bank unveils plans to invest in South South
JUBA, 20 May 2013 - Rawbank, a leading financial institution in the
Democratic Republic of Congo (DRC) has unveiled plans to extend its
financial services to the new market in the Republic of South Sudan.
Mr. Mustafa Rawji, the bank’s Director and head of marketing described
the investment opportunities in South Sudan as being enormous. He said
joining South Sudan’s banking market is high on their agenda as they
step up efforts to regionalize the bank. According to Mr. Rawji, Congo
Brazzaville, Uganda and South Africa are countries that the bank hopes
to cover.
“What made as a leading post-conflict bank in the DRC is, we were able
to adopt our financial products to the needs of the realities of the
local market”, explained Mr. Rawji after an exploratory visit to South
Sudan’s capital Juba.
Since it opened its first doors in 2002, Rawbank, has reportedly grown
to become the biggest bank in DRC in terms of total assets and total
deposits. The bank currently comprises of 40 branches all over DRC,
with about 50 Automatic Teller Machines (ATMs).
Mr Rawji said as a post-conflict country, South Sudan’s challenges are
not different from what DRC experienced ten years ago. “We have
developed a favorable opinion on investing here considering the
realities on the ground. Though the final decision will have to be
reached by the Bank’s board of Directors”, he said.
He said the bank has tailored products such as “Ladies First” which he
said was able to produce the greatest number of women entrepreneurs in
the DRC.
The delegation led by the Bank’s CEO Thierry Taeymans who described
the visit as “successful ” held meetings among government
representatives with the standing Committee on Economic and Financial
Affairs, the Presidential Adviser on Economic Affairs as well as the
Deputy Governor of South Sudan Central Bank.
They also held meetings with the World Bank as well as the
International Finical Corporation (IFC), a member of World Bank that
offers investment, advisory, and asset management services to
encourage private sector development in developing countries.
Mr. Rawji commended the level of cooperation his group received from
the IFC in coordinating and introducing them to the “right people with
the right information”. “If it was not because of the World Bank and
IFC, these three days would have not been so successful”, said Rwaji.
Reported by Matata Safi