South Sudan’s Central Equatoria State bans the invincible black market
Oct 17, 2020(Nyamilepedia) — On Friday, the governor of Central Equatoria state, Emmanuel Adil Anthony Wani, banned the operations of illegal dealings in foreign currency operating without authorization from concerned authorities in Central Equatoria State.
The illegal dealings are blaming for soaring prices and depreciation of South Sudan local currency, SSP.
“I Emmanuel Adil Anthony Wani, Governor of equatorial state do hereby issue this Gubernatorial order for banning operations of illegal dealers in foreign currency in Central Equatoria State with effect from the day of issuing of this order,” read part of the order seen by Nyamilepedia.
According to the order, the illegal dealers comprise of dealers operating alongside roads or inside shops without an operation license.
The governor said that anybody who violates the order shall be punished according to Central Equatoria State council by-laws.
In the order, Governor Emmanuel Adil directed law enforcement agencies to implement the order with immediate effect.
“All law enforcement agencies concerned are directed to implement this order with immediate effect’” read the order.
South Sudan currency has been depreciating against the dollar at a high rate since the minister of information announced the government’s plans to change the currency.
The Information minister Michael Makuei has since taken back his words saying that what he meant was for people hoarding money to take it to the banks.
“This was of course announced last week and after that announcement, the market almost went into a rampage. In my statement here (last Friday) I directed and requested those who are hoarding money to take it to the banks beforehand,” Makuei said on Thursday.
The minister went on to blame the traders of contributing to the inflation by raising the prices of their goods.
“Those who are hoarding the money and those who are selling in their shops. Those who are selling in their shops, as soon as the dollar increases by one pound, add a pound to the price of their goods and at the end of the day it is the consumer who becomes a victim,” the minister said.
Central Equatoria state gave the order with the hopes to control the inflation of the pound.
The order was to take effect from the same day it was issued, that is on Friday, 16th October 2020.