South Sudan plans to form own agricultural bank
By Julius N. Uma
March 10, 2011 (JUBA) — The government of Southern Sudan is determined to set up its own agricultural bank as a mechanism to boost food security among its population, Anne Itto Leonardo, the regional Agriculture and Forestry Minister said Thursday.
The semi-autonomous region is due to gain independence in July this year after southerners overwhelmingly voted for separation on the January self-determination referendum.
The bill that gives a guarantee for the establishment of the agricultural bank, the minister revealed, is currently being discussed in Southern Sudan Legislative Assembly (SSLA).
“We need to mobilize resources to run these agricultural banks. Operating a bank, as you all know requires lots of money. As a government, we remain committed towards serving our people. The moment this bill is passed and we have the resources at hand, then we can establish these banks,” she said.
With over 90 percent of the southern population actively involved in small scale farming mainly in rural areas, the minister said government will strive to provide the technical assistance needed to guide farmers involved in agricultural activities.
Meanwhile plans are also underway to boost capacities of farmers through provision of tractors payable in installments. The initiative is being undertaken by the ministry in collaboration with the agricultural bank of Sudan.
Under this arrangement, a farmer with collateral security pays SDG (Sudanese Pounds) 3,000 and acquires a tractor, with a SDG 10,000 paid annually on installment basis. A tractor costs between SDG 70,000-80,000 depending on the type.
“We expect this initiative to boost our farmers given that food security remains government’s top priority in the post-referendum period,” Rual Makwi Thiang, the regional manager of the agricultural bank told Sudan Tribune.
Formed in 1959, the Agricultural Bank of Sudan which has a strong outreach currently operates in southern Sudan states of Upper Nile, Warrap and Central Equatoria. It mainly provides support to farmers in form of loans, seeds and other technical services.
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Historical Boy!
South Sudan plans to form own agricultural bank
Yes, agricultural bank is very necessary to support farmers in South Sudan.
Challenger
South Sudan plans to form own agricultural bank
That is a good move by the dupty ms.ann itto to form an agricultural bank inorder to boost the agriculture of the South Sudan,i see the goverment is spending alot of money to buy food from the nieb country, that money can be helpful to increase our production.
Anti-corruption.
okucu pa lotinokwan
South Sudan plans to form own agricultural bank
Good planning for Agriculture Bank for south government soon to be out in July.
But my worry is,the management of this Bank should not be like the one of NCB ie Nile Commercial Bank which collapse in away where by Top Government Official Loan all the Money in the Bank without paying it back,Some will claim to be farmer within the government official while leaving the real farmer in Rural Area,for the shake of money,Dr Ann Ito be very careful on this issue.
OKUCU PA LOTINOKWAN
Mike Mike
South Sudan plans to form own agricultural bank
Dr. Anne itto, Please be a well grown up woman and don’t make yourself to be like other people whom i will not mentioned their names and they are well known of lies telling in the South Sudan government. Instead to planed some thing just abruptly like today and you rush immediately to the media and start announcing it out to the public, meanwhile it was not been discussed fully in the level of government. That one is not fair and the government should not be run in such a way. Where will you get money to keep in that bank which you were saying and there are no places in the South where agricultural expliotation is taking place at?. Now six years of intrim period have gone without any thing done in the South while you were playing with the resoucres of the nation by building the houses of your own. The entire population of South Sudan were now tracking your daily activities both in the houses and in Offices and at this moment i hope we were not allow to say any thing because the current government is not for the public. But when the public government which people were granted to express their needs then we will express what have all this time to the people.
Clement Mabe
South Sudan plans to form own agricultural bank
Creating an Agricultural Bank in South-Sudan is a good idea as a future agenda. This idea is premature in the sense that we are a new country with so many problems. The capital expenditure on starting new banks is not worth the return. The complexities involved in establishing a viable Banking system are so high and which is still a major problem in South Sudan, our Commercial Banks are yet to be able to create capacity whether through properly trained personnel, Banking technologies, infrastructural requirements and so on. So brothers, before we dig ourselves in a hole, we should make sure that we have the basics FIRMLY established. After all, what difference will an Agricultural Bank make at the moment; it will be servicing loans to farmers. Why don’t we have farmers have these loans serviced in commercial banks? We could even create special counters specifically meant for farmers within the existing banks. We as South-Sudanese must realize that we must spend our Money (South-Sudan Resources) where the return is greatest.