Is South Sudan's oil flowing? (image: Africanarguments.org) A while back, Jetlink grounded it's planes after the company ran out of funds. The problem was caused by inability of the company to access South Sudanese dollars paid to the firm in South Sudan, to US dollars. It therefore exhausted its cash reserves from other countries, while having money in South Sudan, but in a currency hard to convert to other currencies. The crunch is due to stopping of oil exports, South Sudan's main export, thus stopping the flow of dollars into the country. The country still continues importing goods and services (such as Jetlink's), but fewer and fewer people could access the foreign currency needed to continue importing these goods and services. (See: South Sudan dollar control grounds Jetlink flights http://www.the-star.co.ke/news/article-95995/south-sudan-dollar-control-grounds-jetlink-flights ) James Mwangi, Group CEO, Equity Bank in December explained how the bank wa...
Kenya, Africa: General life and a dash of ICT usually with a satirical and critical sprinkling.