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Home News Juba traders shut down businesses due to skyrocketing prices

Juba traders shut down businesses due to skyrocketing prices

Some traders in South Sudan’s capital Juba have shut down their businesses due to the current skyrocketing prices in the Market.

Some of the shops along the markets were closed since Wednesday after the local currency dramatically lost its value against the dollar Tuesday.

Speaking to our reporter on Thursday Ali Osman, a shop owner working in KonyoKonyo market said he prefers to have his business closed than to incur more loses during this tough times.

“I opened my shop in the morning but most of the customers coming to buy end up complaining because I have increased the prices of my products. Some customers threaten to fight me, hence I decided to close my shop,” he said.

Agnes Poni, sells vegetables in Suuk Libya she explained that after selling her greens on Tuesday, waking up the following day she was not able to buy new stocks for her busines since the prices have gone up.

She called on the government to rescue its citizens from this tough economic situation.

“If these situations continue like this people will die of hunger, imagine, I could not purchase new items for my business because the prices have increase,” Poni said. You go anywhere, they tell you the dollar has caused this sharp rise in prices this is a big problems,” She added

Elsewhere in Rumbek, eight petrol stations and some shops dealing in food items have closed down due to lack of fuel and goods coming to the State.

Dove Petroleum Manager attributed the shutdown of petrol stations to high dollar exchange rate and poor road condition between Juba and Rumbek.

“We closed down due to external factors such as security, flooding and the fluctuation of dollar. We the business community dealing with oil face difficulties to bring oil to the state because the government body regulating the oil prices in the state are forcing us to sell at a certain price. That is why we stopped bringing oil to the state to avoid losses,” he explained.

John Marial Akech, one of the fuel dealers, said he is importing fuel from Yirol and Mvolo, which brings to him a lot of charges from the boda-boda riders.

He blamed the government for not renovating feeder roads to ease access of goods to the town.

“The problem is not us but the failure of the government not to repair roads, many fuel trucks get stuck on the way making it hard for fuel to reach Rumbek leading to closure of petrol stations,” Mariel explained.

Jansuk Alex Dumba, one of the sellers in Rumbek Market, said customers cannot afford the high prices of goods in the market due to lack of money.

According to the government, the office of the President is in a final process of acquiring a loan that will be injected in the economy to stabilize the currency rates.

In addition, the Council of Ministers meeting also agreed to divert and inject the oil money into the market to help in the stabilization process.
Last week an announcement by the spokesperson of government Michael Makuei Lueth triggered a sudden increment in the rate of foreign currency in the country.
However, President Kiir assured citizens on Wednesday after the cabinet meeting that the government did not agree yet to change the country’s currency but instead it was a suggestion, proposed and that needed to be studied by the economists.

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