Stanbic bank donates to S. Sudan famine

March 31, 2017 (JUBA) – Stanbic bank branch in South Sudan has donated an unannounced amount of money to the famine- hit the country, the humanitarian gesture was announced after the bank chief executive met President Salva Kiir in Juba on Friday.

The “token” is a signal of what would be a good working relation between Stanbic bank and the East African country, said the Minister of Finance, Stephen Dhieu Dau, who announced the donation.

“We will support Stanbic bank and provide a good working environment to service our citizens,” said Dhieu, who attended the meeting at the south Sudanese presidency.

Minister Dhieu did not say how much the bank donated, however, South Sudan Broadcasting Corporation (SSBC) TV quoted South Sudanese Pound 500, 000, an equivalent to USD 3,500 at the current exchange rate.

Philip Odera, the Chief Executive Officer of the Kenyan Stanbic Bank, said his visit to Juba and subsequent meeting with the President is a show of solidarity with South Sudanese.

The United Nations and the government declared famine in two counties in February, facing at least 100,000 people in Leer and Mayendit in Unity State.

South Sudanese Pound lost up to 80% of its value against the United States dollars since a floating exchange rate was declared in December 2015.

Oil production, which is the main source of hard currency, has dropped to only 130,000 bpd and some government employees have not being paid since January 2017.

(ST)