Gathige wrote:MugundaMan wrote:simonkabz wrote:harrydre wrote:http://www.businessdailyafrica.com/Corporate-News/Kenyan-banks-lose-Sh12-7bn-in-South-Sudan/-/539550/3108538/-/11h5w24z/-/index.html
iko shida!
I have a relative whose KSh 10m equivalent in SSP deposits in Juba were reduced to less than 50k equivalent and still going down.
Ouch! I knew not just SSP but South Sudan in general was doomed when the wall street sharks like Philip Heilberg below zoomed in minutes after independence to bribe Kiir and co into leasing 100's of thousands of oilfield acres "for agricultural purposes." The die had been cast and from that point onwards both camps (kiir & Machar) would have their US faction proxies calling the shots and funding both sides of the war. Ask yourself why a warlord like Machar is being given VIP treatment even in SA where he was supposedly on "house arrest" It's absurd. I would not advise anyone to put even a penny in that country until sustainable peace returns.
@Mugundaman, Returns in war torn countries are only second to narcotics. Those who were daring to invest in SS esp in housing, commodities and construction supplies made milllions. Even those who had pounds but invested them there still made huge returns.
Yes indeed Gathige. In the beginning before the proxy wars began in earnest there were definitely fortunes to be had, especially by the corporates like KCB because they had little to no competition. Then the shidas began and the pound collapsed like a stone and hyperinflation kicked in. KCB alone took a whopping
3.4 Billion hit. That is enough to make one flee from that place never to return again. But with this new peace deal lets see if stability returns. In fact you might be right, might be a good time to start hunting for a mugunda or two around Juba, if foreigners are allowed to own land hapo.