By Yiep Joseph
Traders in Terekeka County, Central Equatoria State have called on the government to provide immediate support to rescue local businesses from collapsing under the weight of rising inflation.
Currently, the exchange rate stands at USD 1 to SSP 4,500, but the instability of this rate is causing frequent fluctuations in market prices.
Many traders have expressed concerns that the depreciation of the South Sudanese Pound against the dollar is jeopardizing their livelihoods, leading to some businesses shutting down entirely.
In an interview, Margret Nicholas, deputy chairperson for the business association in Terekeka County, said local traders buy goods from foreign traders who calculate every price in dollars.
“When you go to the market to buy small items, they will say the dollar has increased and the prices have changed as well. I bought my products from Juba at high prices,” she said.
She added that while some local traders borrow money to start their businesses, it is sometimes hard to get a profit or even get the money invested, forcing them to close their businesses.
She called on the government to rescue the situation, adding that traders at the county level continue to face a lot of challenges.
“Improve SSP value against the dollar because our small businesses are closing down and our children will have nothing to eat or go to school,” she urged.
“Today you will buy at this price and tomorrow at another price. This problem of dollars, the government has to look into it, local businesses are dying,” she said.
While women remain eager to start small businesses, they are facing rising costs that are increasingly burdensome.
“Since the dollar appreciates against South Sudanese Pounds, even when one wants to buy charcoal to start a business, the owner will say the dollar is a problem,” she said.
The businesswoman urged the government to bring solutions to the ongoing economic crisis and SSP depreciation to give hope to the traders.
“If our people in the government are listening to us, let them work hard so that South Sudanese Pounds gain its value against the dollar because our small businesses are closing down and our children will have nothing to eat or go to school,” she said.
Simon Lado a local trader, called on the government to provide goods at subsidized prices to the local traders.
“As local traders, the government can supply us with goods at good and low prices so that when we sell we can get a small profit to be in business and help our families,” Lado said.
He reiterated that the economic crisis continues to persist, frustrating local traders.
“As local traders who are South Sudanese in Terekeka here, we are suffering. Most traders calculate the price of their goods in dollars, and when we sell them to our people in pounds, we get no profit,” he said.
He added that local businesses continue to encounter threats of closure due to the dollar prices.
“For us local traders, you can bring one bag, and when you sell it and it does not bring any profit, you can leave it, and hence most of us will continue to close our business until we all leave the business,” he said.
He expressed that the solution to the problem local traders are facing would come from the government
“We do not have power; the government can be able to bring us goods with reduced prices, and that would help us,” he said.
According to traders in Terekeka County, a cup of sugar is sold at SSP 4,500, rice at SSP 5,000 SSP, maize flour at 5,000 SSP, and a litter of cooking oil at SSP 5,000, while a bar of soap is at SSP 5,000.