Kenyan banks rekindle hopes of making profits in South Sudan

SalvaKiirJuba

South Sudan President Salva Kiir waves as he greets schoolchildren at Juba International Airport in Juba on September 13, 2018. FILE PHOTO | NMG

Kenyan top retail banks with operations in South Sudan are optimistic about an economic turnaround after years of mixed performance weighed down by political unrest, hyperinflation, currency devaluation and shortage of foreign currency.

Analysts at EFG Hermes say that South Sudan operations for KCB, Equity, Co-operative and Stanbic Bank have started to stabilise after several years of making losses.