Collapsing Eceonomy

Contracted company to seizes S. Sudan assets in Kenya over unpaid money

Nairobi – A company based in Khartoum has been given a green light by a court in Kenya to seizes assets belonging to South Sudan goverment, including banks accounts, goods passing through kenya including oil and other goverment assets to recover an unpaid money amounting to $ 41.9 million.

“Active Partners Group (APG) has obtained a court order allowing it to seize South Sudan’s assets to realise the amount awarded in January last year by an arbitration panel sitting in Nairobi” reported The East African website

The money was lost by the company after interring into an agreement to provide electricity in South Sudan but the later fail to go forward with the project implementation after the company (APG) started preparing to for the work which, according to them, cost them $ 41.9 million

The whole project was to cost US $ 179 million, but the project never move on to its implementation stage.

The East African reported that the company promise to attach the South Sudan oil flowing through Sudan pipeline until such a time that the amount is paid fully by the South Sudanese goverment or recovered through such processes.

“If the government of South Sudan does not resume payment within one week, our associates in South Sudan shall move to attach any oil they have in the pipeline cutting through Khartoum. We are in the process of tracing bank accounts the government of South Sudan has here in Kenya,” the company’s lawyer told The East African in Nairobi

The goverment of South Sudan is yet to publicly respond to the latest moves taken by the company which will directly have negative impact on the Country’s economy – US $ 41.9 million is too much for our broken to knees goverment.