President Kiir discusses investment in South Sudan with Nigerian businessman
(JUBA) South Sudanese President Salva Kiir Thursday met with the Executive Director of Sahara Group Tope Shonubi who expressed willingness to invest in oil and infrastructure fields.
Founded in 1996 and is based in Lagos, Nigeria, the Sahara Group, a power, energy, gas, and infrastructure firm, focuses on acquiring, exploring, appraising, and developing commercial oil and gas assets in basins and emerging frontiers in Africa.
The company which manages petrol stations also works in electricity distribution. Further, the company provides conceptualization, execution management, project financing, and advisory services in the areas of infrastructure and innovation projects.
The meeting was attended by the Oil Minister Ezekiel Lol Gatkuoth and Electricity Minister Dhieu Mathok.
After the meeting, Mathok told reporters that "the group is working in the field of energy, oil and gas as well as infrastructure and will invest in the country".
For his part, Shonubi said that the investments of the Sahara Group will contribute to the development of industry in South Sudan in partnership with its government.
He further said his group will create jobs for the South Sudanese youth.
The country is currently producing 180,000 barrels per day (bpd) and aims to hit 350,000 bpd in the near future.
Speaking to Reuters on the sidelines of the Africa Oil and Power investor forum in London in May 2018, Gatkuoth cited Nigeria's Sahara Energy as one of three buyers for the country's crude with cash advances.
In a speech delivered at the Africa Oil and Power Conference in Juba in November 2018; Valery Guillebon, CEO of Sahara Energy International, one of the group companies said there is a critical need to develop "new crude oil and product pipelines into South Sudan"
He explained that this would "speed up the economic growth of the country by reducing the landing cost and pump price of petroleum products; reducing pressure on road infrastructure and mishaps due to trucking, and increase the overall quality of life by reducing emissions and pollution".
Source: Sudan Tribune