Tycoon urges traders to persevere

By William Madouk

South Sudan Business Community Chairperson has called on traders to halt sit-down-strike rising foreign exchange rate, that weakens the South Sudanese pounds.  

A section of traders in Juba city had submitted protest letter to local business community, noting that they would be forced to close down their businesses due to volatility exchange rates.

The traders claim inflation woes have hit supplies badly, leading to the hike of commodities prices day after another, and if left unaddressed, business would meltdown.

However, chairperson Business Community, Ayii Duang Ayii, counseled the merchants not to close their shops, assuring that he would work hard to mediate the matter with the government, for resolution.

“We totally reject the closure of shops, because that is going to be a big crisis to the country. So, let shops remain open as we negotiate and find root causes and solution for it,” Ayii said.

He cautioned both nationals and foreigners traders as well as investors, against closing down their operations, as the country faces economic crisis with price hikes in the market.

“Common citizens are in loggerhead with traders over continuous changes,” he cited the challenges traders face.

The business community boss also decried control of the market by foreigners rather than nationals, saying, it’s the reason prices cannot control prices in the markets.

Mr. Ayii disclosed that butchers also wanted to increase price of meat, claiming a bull now sells at one million South Sudanese pounds. He said on querying, the butchers related meat price to dollar rate.

Butchers said due to insecurity along the roads, cattle raiding – they are forced to ferry cattle using tailers and as exchange rate goes up fuel prices rises forcing them to add it into already existing prices.


Comments are closed.