Mountain Bank launches in Juba

By Boboya Simon Wudu

JUBA
August 12, 2010 (Juba Post)

A new bank identified as Mountain Trade and Development Bank-MTDB has been launched in the South’s capital of Juba on Monday. Located at the heart of Juba Town, MTDB was officially opened by the Minister of Finance of the Government of Southern Sudan, H.E Deng Athorbe.

The bank is to boost economic development by facilitating local and international investments, said Neroun Philip Ajo, Chairman of the Board of Trustees during the launch. He said the bank was established to spur the economic development of the people of the Nuba Mountains. However, he said, the bank will also serve all the people of the south because it has a mission to reduce poverty in the region.

He said the people of southern Sudan and the Nubians have been marginalized in all aspects of life by the two decade civil war. There is a lot that need to be done on the economic sphere in order to eradicate poverty, he said.

Southern Sudan, he said, is short of financial institutions to adequately meet the needs of indigenous and international investors, adding that MTDB will go along way in filling this gap.

Southern Sudan, a new nation with a five year old government, has witnessed rapid development since the signing of Comprehensive Peace Agreement (CPA). Several retail and wholesale businesses covering various sectors have been established since then, but back up financial institutions remain few. According to Neroun, this has limited the economic prosperity of the region.

Abdul-Aziz Adam is the Deputy Governor of Southern Kordofan and was one of the chief guests at the bank launch. He said the economic growth in the south is the major focus of the Sudan People’s Liberation Movement. He said that the SPLM mission is primarily concerned with the issues of wealth, power, cultural values and the sovereignty of the region.

In a related development, H.E David Deng Athorbe said that the government of southern Sudan has extended to the people of Nuba Mountains all opportunities that it has granted to the people of the south. He said the people of the Nuba Mountains contributed a lot to the peace that prevails in the current Sudan.

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