Doubts aplenty as South Sudan strikes ‘$12bn loan’ deal with Dubai-based sheikh

Issue 505 - 01 May 2024 - By Eleanor Gillespie | 4 minute read

A number of reports point to the cash-strapped government of South Sudan agreeing to borrow up to $12.8bn from a Dubai-based company owned by a junior member of Abu Dhabi’s ruling family, with the debt to be repaid in discounted oil shipments over 20 years. But with plenty of calls on South Sudan’s dwindling oil income, and ever more junior sheikhs turning up with African mega-deals, questions are mounting about what could be, in an ideal world, a transformational deal.

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