Kenyan lender Co-operative Bank in partnership with the
Government of South Sudan (GOSS) has launched a bank in the continent’s
youngest nation to benefit from government plans to boost local food
production.
Co-operative Bank will take up a 51 percent stake in the
bank, with the remaining going to the GOSS, officials said on Tuesday.
Officials said the bank would help farmers sell products as
South Sudan, with the help of the United Nations, expands agricultural
production to overcome food shortages.
“It is only through the bank that we will be able to support
the farmers. When the government does not have money, the bank will have the
resources to support the farmers,” the agriculture minister Betty Achan Ogwaro
told Reuters.
Co-operative Bank of South Sudan that is licensed by the Bank
of South Sudan will be based at the capital, Juba.
Source: Reuters
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