Ugandan financial institutions urged to invest in S.Sudan

By ABCafrica reporter

Ugandan traders in South Sudan have called upon Ugandan Financial institutions to invest in South Sudan. The traders operating Famms Commercial Market in Gumbo, Rajaf, said keeping money in their houses is a magnet to robbers. Mr Iddi Mutebi, the chairman of Famms Commercial Market, said their members usually send money to Uganda through transporters, who sometimes disappear with it.
“We have more than 5,000 traders in the market, but we have no bank to keep the money. We have even been  allocated a plot; for Ugandan based banks to establish presence in the market” Mr Mutebi said.
Famms Commercial Market is the biggest market in Juba, the capital of South Sudan, and it is occupied mostly by Ugandan traders. Last Saturday, the traders celebrated the market’s third anniversary. 
Mr Elias Mugagga, the head of traders in the same market, said in just one month, he has received three cases; where traders gave money to bus operators to transport it to Kampala, Uganda, but disappeared before they could hand over the cash.

Ugandan traders use public buses to transport cash from Uganda to South Sudan and back. 
 Eng Jalal Abdullah Doka, the secretary general of the Chamber of Commerce in Jubek State, said he may not help the Ugandan traders to access forex exchange, but he will deliver their grievances to his superior for solutions.

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