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    Juba’s $12bn Dubai deal with phony Sheikh: Report

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    By on Sudan
    Juba’s bn Dubai deal with phony Sheikh: Report
    Juba’s bn Dubai deal with phony Sheikh: Report

    A pumpjack drilling crude oil. (Credit: ded pixto/Shutterstock)

    A leaked document in April 2024 revealed a $12.9 billion loan deal between South Sudan and a United Arab Emirates firm, exchanging crude oil payments for the next 20 years. Former Finance Minister Dr Bak Barnaba Chol reportedly signed the agreement with the Dubai-based lender. Despite government denial, the deal raised concerns due to the lender’s questionable background and lack of due diligence. South Sudan’s economy, already struggling, faces further challenges with potential defaults on existing loans. This development underscores the need for stronger financial oversight and transparency in international agreements.

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    Eye Radio, formerly known as Sudan Radio Service is a radio station founded in 2003 as a project for Education Development Center (EDC) in partnership with USAID in Juba, South Sudan. Operating as Eye Radio, it launched on air in 2010 as a 24hr station. Eye Radio covers local South Sudan news, updates on the Sudan conflict, regional and international stories making headlines.

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