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National Bank of Egypt opens in Juba

National Bank of Egypt opens in Juba

Chance Baniko Simon:

Vice President Dr. James Wani Igga opened the National Bank of Egypt NBE, subsidiary in Juba today 28th June 2022.

Dr. Igga said this was a great day in the history of the country. The facility will improve banking services in the country amongst other activities.

The opening comes in the wake of the visit of the President of the Republic Gen. Dr. Salva Kiir Mayardit to Egypt last year in October 2021 resulting into the signing of bilateral trade and investment agreements between the Republic of Egypt and South Sudan.

President Gen. Dr. Kiir said that Egypt consented to assist South Sudan in many fields including requesting that Sisi regularly sends delegations to South Sudan to check on the progress of the agreements.

On his part, President Sisi said, a number of agreements on irrigation, trade, and industry have been inked, and that a joint committee will meet regularly to monitor the progress of all the agreements.

Trade exchange will be improved and accessibility to Egyptian investments and goods into South Sudan will be facilitated as Egypt works to provide capacity building programs in different fields. In addition, scholarship opportunities for more South Sudanese students will be increased and facilitated to study at Egyptian universities.

The National Bank of Egypt was founded since 1898 during British colonial administration of Egypt.

Delegation at BOSS

Earlier in the day the Egyptian delegation paid a courtesy call to the governor of BOSS Hon. Moses Makur Deng to extend an invitation to the opening of the NBE in the country.

The delegation exchanged views with the governor in the areas of training and capacity building of commercial banks operating in the country.

The training opportunities will also benefit the Bank of South Sudan’s staff capacity in Cairo. The Governor appreciated the Egyptian cooperation in the banking sector but chipped in that lack of capital and of infrastructure impedes development countrywide.

The meeting also touched on other areas of mutual concerns particularly the current economy crisis the country is transiting through, and how Egypt can render assistance to beat the crisis.

Hon. Makur Deng said that plans are underway to build airport infrastructure at Tali to ease or facilitate air services in the country.

The Egyptian delegation underscored the importance of the markets in South Sudan and expressed interest to invest noting that South Sudan has the potential to become a huge market in the region.

Vice President Dr. James Wani Igga cutting ribbon during the opening of NBE flanked by Egyptian Officials and Governor of BOSS Hon. Moses Makur Deng at the back
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