One such entrepreneur, Anthony Sebit Martin, had to shut down his mobile money transfer business due to the devaluation of the South Sudanese Pound. The fluctuating market prices, especially concerning the US dollar, made it challenging for him to sustain his business. With rent, taxes, and operational costs escalating, Sebit decided to close shop.
Similarly, Simon Martin, owner of Diamond Driving School, is also feeling the impact of the economic crisis. Rising fuel prices, staff payments, and rent have become major challenges for his business operations.
Despite the challenges, both entrepreneurs are determined to adapt and find new business opportunities to generate income. They encourage other young business owners to persevere and explore different avenues to navigate the economic turmoil in South Sudan.