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South Sudan Trading
Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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I need to understand how this works because, we deal with South Sudan, and at one point after selling products/goods, their banks don't seem to have Dollars to send to Kenyan suppliers. What really goes on? Where is the money? You cant win, unless you first begin....
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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Think Zimbabwe. If you could receive their (b)millions as payment, you'd have no problem. If you can't then there is no money. Basically their money is worthless. You'd be better off bartering.
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Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? You cant win, unless you first begin....
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Rank: Member Joined: 10/27/2010 Posts: 266 Location: Nairobi
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Unless you have serious connections, it's easier buying alcohol in a Saudi store than getting USD from those banks. Even Jetlink tried in vain.
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Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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Caramba wrote:Unless you have serious connections, it's easier buying alcohol in a Saudi store than getting USD from those banks. Even Jetlink tried in vain. You cant win, unless you first begin....
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Meduza wrote:No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? Interesting market...ever tried CFC? They have a branch there.
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Rank: Member Joined: 1/13/2009 Posts: 36
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I work in South Sudan and I post this while in South Sudan. About 98% of their economy is generated from oil. With their shaky situation in regard to oil exports, dollars are not getting into the country so banks and the government limit dollars from getting out of their country, even banks cant get all the dollars they want. There are also not many businesses that can make you spend a lot of dollars. I use mine for airtime only, beer is a problem where I am and basic needs are provided. So I dont have avenues of spending my dollars until I come back to Kenya
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Rank: Member Joined: 1/13/2009 Posts: 36
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oh and their currency is worthless outside their borders
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Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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Drew wrote:I work in South Sudan and I post this while in South Sudan. About 98% of their economy is generated from oil. With their shaky situation in regard to oil exports, dollars are not getting into the country so banks and the government limit dollars from getting out of their country, even banks cant get all the dollars they want. There are also not many businesses that can make you spend a lot of dollars. I use mine for airtime only, beer is a problem where I am and basic needs are provided. So I dont have avenues of spending my dollars until I come back to Kenya Thanks...I guess at the moment the government has stopped major dollar transactions even in the banks...infact for the last 1-2 weeks or so. sad situation, but the good part is you make money good bucks from them hata kama inakaa. You cant win, unless you first begin....
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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meduza
where do you sell your SSP? at a bank ama at the famous black market?
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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Meduza wrote:No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? consider this the selling rate at a bank is 3.16, at black market its at 4.00, which market would you consider to be more liquid?
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Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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kizee1 wrote:Meduza wrote:No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? consider this the selling rate at a bank is 3.16, at black market its at 4.00, which market would you consider to be more liquid? I guess black market...so someone is holding on to the dollar i guess hence the shortage. You cant win, unless you first begin....
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Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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But I have realised trading with these risk zones gives a bigger margin unlike the comfort zones/areas. Congo has the same problem, but those who trade with them, make good and higher margins. There will be delays in the banks coz their systems are not fully connected via the internet, or one region is at war but at the end of the day its business. You cant win, unless you first begin....
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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@Meduza, if you don't mind, what do you sell and what kind of returns are we talking about? "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Hello Joined: 6/14/2013 Posts: 2
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Meduza wrote:kizee1 wrote:Meduza wrote:No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? consider this the selling rate at a bank is 3.16, at black market its at 4.00, which market would you consider to be more liquid? I guess black market...so someone is holding on to the dollar i guess hence the shortage. 400 was two weeks ago. Last week and this week banks havent received allocations.Right now as we speak the green its @ 420
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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mkulima young wrote:Meduza wrote:kizee1 wrote:Meduza wrote:No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? consider this the selling rate at a bank is 3.16, at black market its at 4.00, which market would you consider to be more liquid? I guess black market...so someone is holding on to the dollar i guess hence the shortage. 400 was two weeks ago. Last week and this week banks havent received allocations.Right now as we speak the green its @ 420 yes @mkulima, and will get worse as al bashir has started sabre rattling
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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Meduza wrote:But I have realised trading with these risk zones gives a bigger margin unlike the comfort zones/areas. Congo has the same problem, but those who trade with them, make good and higher margins. There will be delays in the banks coz their systems are not fully connected via the internet, or one region is at war but at the end of the day its business. try burundi as well, small economy but huge margins, very little FCY so anything imported is super expensive
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Rank: Hello Joined: 6/14/2013 Posts: 2
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kizee1 wrote:mkulima young wrote:Meduza wrote:kizee1 wrote:Meduza wrote:No we trade with them in US Dollar, with the entry of Equity and KCB in that market, we have been receiving payments in Dollars and if you also with there is the BPound too, but now the banks dont seem to have enough dollar to pay up, so am wondering what usually happen? why do the dollars disappear? Does someone hide aka black market? consider this the selling rate at a bank is 3.16, at black market its at 4.00, which market would you consider to be more liquid? I guess black market...so someone is holding on to the dollar i guess hence the shortage. 400 was two weeks ago. Last week and this week banks havent received allocations.Right now as we speak the green its @ 420 yes @mkulima, and will get worse as al bashir has started sabre rattling Some rebels have captured a town near Khartoum. They have given Bashir 100 days to step down or else... (the rebels never stated what they would do)
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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I play South Sudan via CFC. I think they should enter Burundi too....given the banks strong global markets team & international links ( SA & China) forex shouldnt been an issue....
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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the deal wrote:I play South Sudan via CFC. I think they should enter Burundi too.... Stanbic Ug is also looking at Burundi! I really wonder who Standard Bank will choose for the job? Mark 12:29 Deuteronomy 4:16
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