SBI SOUTH SUDANSBI SOUTH SUDAN
South Sudan is Africa’s youngest state and got it’s independence from Sudan in 2011 after it was engaged in Africa’s longest civil war.
The young state is rich in oil reserves and before renewed friction in 2014, produced over 250 000 barrels of oil per day. However because renewed conflict it only produces 160 000 barrels of oil.
The war torn country is also rich in agricultural land and has one of the largest populations of pastoralists in the world. However, since 1999, when Sudan first started exporting oil, agricultural production in the country declined.
One of the core objectives of SBI in Sudan therefore is to revive the agricultural sector and to equip the people of South Sudan to be commercial farmers. It does this through its Agricultural college which it established in 2015. It also offer through one its divisions service in the oil industry and includes drilling, exploration and the refinery of Oil.
SB OIl is a division of SBI South Sudan which is subsidiary of Shepherd Bushiri Investments int’l.
Prior to independence, South Sudan produced 85% of Sudanese oil output. The oil revenues according to the Comprehensive Peace Agreement (CPA), were to be split equally for the duration of the agreement period. Since South Sudan relies on pipelines, refineries, and port facilities in Red Sea state in North Sudan, the agreement stated that the government in Khartoum (Sudan north) would receive 50% share of all oil revenues from South Sudan. Oil revenues constitute more than 98% of the government of South Sudan’s budget according to the southern government’s Ministry of Finance and Economic Planning and this has amounted to more than $8 billion in revenue since the signing of the peace agreement.
It is against this political backdrop and socio-economic environment that SBI invested financial resources to acquire mobile refineries to provide a range of services to the South Sudanese Oil Industry for them to become more independent in the war torn country.
SB Agricultural Produce is a division of SBI South Sudan which is subsidiary of Shepherd Bushiri Investments int’l.
The average annual growth rate of the agricultural sector between 2000 and 2008 was only 3.6 percent, which is considerably lower than the 10.8 percent growth rate of the previous decade. Only 4.5 percent of the available land was under cultivation when South Sudan became independent.
South Sudan relies on food imports from neighbouring countries, such as Uganda, Kenya and Sudan. These come at a high transportation cost which, coupled with inflation, has caused food prices to rise dramatically in South Sudan. The declining agricultural production and the reliance on expensive foreign food supplies have contributed to a severe food shortage in South Sudan.
It is because of this background that SBI decided to invest in South Sudan’s Agricultural Sector by acquiring farms as well as setting up an Agricultural college to trained southern Sudanese to be more involved and productive in its agricultural sector.
SB Minerals is a division of SBI South Sudan which is subsidiary of Shepherd Bushiri Investments int’l.