Many people associate South Sudan's fortunes with oil resources. They are partly right because the country has immense oil potential with the latest statistics pointing to 3.5 billion barrels of oil, making it the singular contributor to the economy in the past.

What many do not know, however, is that many other factors will ensure sustainable development for South Sudan. For instance, South Sudan has other natural endowments besides oil. South Sudan has good investor-friendly policies, including capital mobility. The core of these pursuits for growth is the Revitalized Peace Agreement, which has held relatively well since 2018. As a result, the country is gearing towards general elections in December 2024.

While Sudan attained independence in 1956, South Sudan experienced a brutal conflict from 1955 till 1972 when a peace accord was signed in Addis Ababa, Ethiopia. Again, the second civil war resumed in 1983 and continued through 2005. That said, South Sudan attained autonomous status in 2005 following the signing of the Comprehensive Peace Agreement (CPA) in Kenya. Unfortunately, the country experienced internal conflict in December 2013, and a political settlement was reached in 2018 through the Revitalized Agreement on the Resolution of the Conflict in South Sudan.

Notwithstanding the above tumultuous history, South Sudan has been establishing institutions of governance and accountability, while consolidating peace and strengthening bilateral and multilateral relations. Just like other countries in the region, South Sudan is now deepening relations with international financial institutions, including the International Monetary Fund, World Bank, and African Development Bank, among others.

Rich Natural Endowments

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