U.S. firm to invest in agriculture in South Sudan
January 2, 2009 (WASHINGTON) — A privately held U.S. investment firm entered into an agricultural investment with a company controlled by the son of a South Sudanese general.
Jarch Management Group, Ltd, which is registered in the Virgin Islands, is managed by commodities traders and former State Department and Central Intelligence Agency officials, among others.
The investment group announced that it has purchased a 70% interest, by way of sub-participation, in a company incorporated in Juba, the capital of the autonomous region of Southern Sudan. This company, Leac for Agriculture and Investment Company Limited, is controlled by Gabriel Matip, the eldest son of General Paulino Matip Nhial, deputy commander-in-chief of the Sudan People’s Liberation Army (SPLA).
In addition, Jarch has leased a large tract of farmland in Mayom county of Unity State.
“Jarch has leased approximately 400,000 hectares gross of prime farmland from General Paulino Matip. In addition, Jarch will acquire more farm land within Southern Sudan,” said a statement issued by the investment group.
The statement also noted that Mayom county, where the farmland was leased, contains some mineral resources, for which contracts will be executed by the Government of Southern Sudan in early 2009.
A number of commanders of the SPLA are members of Jarch’s advisory board. These figures are drawn particularly from influential members of the former insurgency in Nuerland, including Paulino Matip and Peter Gadet. Notably, Vice-President Riek Machar and Major General Gulwak Deng were also invited to join the advisory board.
Through Gabriel Matip’s company, Jarch Capital will have the right to grow products including cereals, oil seeds, vegetables, fruits, and flowers and can process these raw commodities for both local and export use, given the approval of the southern government’s Ministry of Legal Affairs and Constitutional Development.
While U.S. companies are banned from doing business in Sudan, which the U.S. considers a state sponsor of terrorism, agriculture in Southern Sudan is exempted from sanctions provided that the Khartoum-based national government does not have any stake in the business and provided that no imports or exports pass through non-exempt areas.
“Jarch will only deal in Southern Sudan and will not involve any entity from the Government of Sudan,” said the company statement.
The privately-held firm operates in Africa to extract natural resources. The company is chaired by Philippe Heilberg, who during the 1990s worked in the commodities division of American International Group, a giant American financial company that nearly collapsed in 2008.
“Jarch continues to see tremendous opportunities in South Sudan as it continues to emerge to realize its full potential,” noted the investment group, which will look for a partner to help it maximize the value of this opportunity.
(ST)
cansellor
U.S. firm to invest in agriculture in South Sudan
CHeers!
thanks to the US company determineed to invest in SOUTH SUDAN particularly in UNITY STATE. I hope that Agricultural project will help to consolidate SPLM political stability in UNITY STATE. because our brothers NUER in UNITY STATE are the most vunerable community among others South Sudan’s communities in terms of hunger crisis. lack of food always triggered a severe disloyalty to their brothers DINKAS that always led to defection and waged a war back to their home soil.Like what we have seen now,they are trying to assasinate themselves and always accuse Dinkas of being corrupt and so many fales acussation that are not truth.
Gatwech
U.S. firm to invest in agriculture in South Sudan
Bravo Gabriel Matip,
I congratulate the American company for its bold decision to develop agricultural industry in Unity state that will spread to other parts of South Sudan. Americans have been the true friends of South Sudanese and I also congratulate the son of Lt. General Paulino Matip Nhial for winning the hearts of the company managers to turn South Sudan into a basket of fruits. Oil and agriculture are the back bone of our economy. South Sudan Oyeee…………
Lucia Kur
U.S. firm to invest in agriculture in South Sudan
I congratulate you Mr. Gabriel for initiative to invest in agriculture.
It is good to do investment and to utilize the natural resources in Southern Sudan. But it is not good to let others have the lion share of our resources and interest of these resources, how can the investment group from America have 70% of the interest while the land is ours?, we are suppose to have the 70% and the American investment group to have 30%.
Giving chance to foreign investors with high interest share is one of the reasons that keeps us African/Southern Sudanese poor forever I’m telling you this kind of offers to foreign firms will definitely lead us to be controlled by others and continue be people with weak wills and powers, lets be careful not to let foreigners have our chances for investment like what had happened in Zimbabwe where more thane 80% of fertile land was being invested by the whites while the native Zimbabweans are sinking in poverty, and the revenues of those investments was for the benefit of Britain alone not for the native Zimbabweans. Are we trying to create a state of economical colonization and after that we go again to the bush for freedom? Why can’t we do the agricultural investment by ourselves and have the 100% or 70% interest by ourselves? Do you mean we Southern Sudanese don’t have that money to invest in that free of charge lands in Southern Sudan? Please let us stop undermining ourselves instead let us have faith in our educated people of Southern Sudan who are experts in agriculture and business whom you can relay on for this kind of investment.
In conclusion, let us have our 100% cake instead of bagging 30% from forigners for no reason.
Thanks
Justin Chicago opiny
U.S. firm to invest in agriculture in South Sudan
It is very unfortunate that many of the SPLA commanders and
politians are involved in business matters and investment with foreign investors. When you are in government with position of authority you are not suppose do any business
in whatever way in doing business while in government because you will be serving two masters
at the same time, your business and that of the government.
I think the SSLA must come out with a bill baring politicians and others in the government with position of authority. Once you are out of government then you can do whatver business you want. When you are in government and doing business this is in itself another form of corruption
and leasing land to foreign investors by individuals is also
corruption. Being in government does not mean that you own the land that belongs to the community. we must be careful
how we use our power when in government.