Kush Holdings CEO on driving investment into South Sudan's oil & energy sector
In South Sudan, Kush Bank has been selected as mandate for Ezra Group and Jedco in the raising of $75 million in capital for their integrated energy value chain project in the country. Ryan O'Grady, Group CEO, Kush Holdings spoke to CNBC Africa for more.
Wed, 14 Sep 2022 14:59:22 GMT
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AI Generated Summary
- Kush Bank selected to raise $75 million for energy value chain project in South Sudan
- Expansion of power plant to include solar power and mini refinery
- Focus on supporting SMEs and regulatory improvements to attract investors
South Sudan's energy sector is set to receive a significant boost as Kush Bank has been chosen as the mandate for Ezra Group and JetCo in raising $75 million in capital for their integrated energy value chain project in the country. Ryan O'Grady, the Group CEO of Kush Holdings, highlighted the importance of this investment in a recent interview with CNBC Africa. The capital will be used to expand an existing power plant in Indubuh, with plans to add 24 megawatts of solar power, an integrated logistics cluster, and a mini refinery. O'Grady emphasized the crucial role that energy security plays in eliminating energy poverty in South Sudan. With the initial plant already operational, the expansion is expected to be completed within the next six months. This marks a significant step forward for the country, which has faced numerous challenges in the past. O'Grady expressed optimism about the increasing investor confidence in South Sudan, citing recent stability and the reunification of forces as positive factors driving growth. While South Sudan has historically experienced disruptions, O'Grady noted that the current environment is conducive to investment and development. Kush Bank, which has been operating in South Sudan for over a decade, is now turning its focus to the energy sector. O'Grady highlighted the bank's commitment to supporting SMEs, particularly those led by women and youth. By providing access to credit and other financial services, Kush Bank aims to unlock the potential of local businesses and contribute to the energy value chain. O'Grady also stressed the importance of regulatory improvements to attract more investors and create a more inclusive environment for all stakeholders. He pointed to ongoing collaborations between government ministries and financial institutions as a positive sign of progress. Looking ahead, O'Grady expressed confidence that South Sudan's energy sector will continue to grow, with a clear track record of successful projects attracting international investors to the region. The future looks promising for South Sudan as it seeks to harness its natural resources and drive economic development through strategic investments in the energy sector.
