The South Sudan Ministry of Investment Monday introduced new investment certificates to local and international companies citing malpractices and forgery in the old certificates.
The issuance of the new certificates started on Tuesday according to the ministry.
The investment authority says it is giving a one-month ultimatum to all investors in the country to acquire new investment certificates. Companies holding six-month valid investment certificates would be issued new ones without charges but those with three months to expiry will have to part with some cash.
The ministry also warned investors holding expired investment certificates of serious charges of non-compliance.
Speaking to journalists during a press conference in Juba on Monday, South Sudan’s Minister of Investment Dr. Dhieu Mathok said, “As you remember, in August last year we held a press conference and we announced that there were some challenges which affected the issuance of the investment certificates and that there were malpractices and forgeries which targeted the investment.”
He adds, “We have also noticed that the forgery has not stopped and it is continuing although the game was discovered since last year. We detected some of the fake certificates that were recently issued to the investors. First of all, we will be looking at the registration to boost the self-confidence for the investors in South Sudan.”
Minister Mathok says his ministry has also set rules and regulations that all investment companies coming to South Sudan must meet before they begin any operations.