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South Sudan Pound
Rank: Member Joined: 9/27/2006 Posts: 503
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Fellow Wazuans,
South Sudan's new currency begins circulation this week. Now, for all you currency/forex gurus amongst you, would it be 'wise'to purchase that currency now?
I mean, South Sudan apparently has the 3rd largest oil fields in Africa, so my reasoning is that as oil prices go up, the currency will strengthen.
Sound reasoning? The idea would be to buy now and sit on them maybe for a couple of years.
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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What is the exchange rate currently of KES and South Sudan Pound?
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Rank: Member Joined: 9/27/2006 Posts: 503
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Right now its based on the existing Sudanese currency - i.e. the new South Sudan pound is the same as the Sudanese pound. But don't know the exact rate right now
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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Because we are the superpower they have been associating with, i propose they start with 1pound=1KES then they figure out ahead. African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Member Joined: 12/16/2006 Posts: 14
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1 Sudanese Pound is equivalent to Ksh 30 ie 1sdg=ksh 30 Their currency may stil b strong . Look at the oil revenue as @ Dec 2010; stood at $11.1 million @ 500,000b/d with a projection of 715,000b/d by 2013. Consider also that 70% of oil wells r in South. Sudan has expansive arable land the Equatorial n with lots of resources if well exploited. So far Sudan is exporting hot cake Equatorial Teak to India and China. E&OE Bgan
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Sober wrote:Because we are the superpower they have been associating with, i propose they start with 1pound=1KES then they figure out ahead.
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Rank: Member Joined: 9/27/2006 Posts: 503
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So 30 bob? Okay, so if the new currency rises by say 3 shillings in a year (which is modest), we can get a 10% return?
Seems good to me.
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Rank: Member Joined: 9/21/2007 Posts: 326
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The challenge with the new south pound is that it currently is pegged at 1:1 with the north pound. The north is hoever hell bent on destroying the south economy and has also introduced a new north pound and rendered worthless any former pound outside the north territory. This leaves the south with a usd 700m of worthless currency. The situation is further complicated because the north is claiming usd22 for every southern barrel of oil going through the north pipes; this leaves the south with only 20% of the oil revenue. The new south pound to the dollar is a very specualtive game. Speak your truth quietly and clearly; and listen to others, even the dull and the ignorant; they too have their story.
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Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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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. TULIA.........UFUNZWE!
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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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. This is old news banaa Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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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.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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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. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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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.
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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MugundaMan wrote: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. Going there in the same messed suite is going for another round of messier mess. A fully owned susidiary would make better sense. These dudes run with your chums and u did nothing, going there again they will come in indroves for a second round of manna. ,Behold, a sower went forth to sow;....
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