Ayii Duang Ayii, businessman, former chairperson of the Business Community - credit | Michael Daniel/Eye Radio | March 15, 2022

A businessman has clarified the payment of a $200 million loan allegedly for livestock and agricultural exports and imports, will now be done through six commercial banks, not the central banks as stated earlier.

Early this week, the chairperson of the Business Community, Ayii Duang Ayii says he and Amin Akasha, and Maker Gai, struck a deal with the Ministry of Finance to mortgage their assets to the Central Bank for a $200 million loan.

The agreement would allow the businessmen to use their fixed assets to receive loans in dollars or its equivalent in pounds.

According to Ayii, the valued assets worth $1.5 billion will be mortgaged out for a grace period of five years.

He said the assets on mortgage include; hotels, privately-constructed hospitals and clinics, commercial buildings, residential houses, among others.

The business tycoons say they would use the loan to support livestock and agricultural exports and imports in the country.

However, the chairperson of the Business Community, Ayii Duang Ayii explained that they will now be paid through six Commercial Banks, not the Central Bank as he stated early.

According to him the Ministry of Finance and the Central Bank are only acting as Guarantors.

“We requested the Ministry of Finance and the Central Bank to be the guarantors if we failed and we squander the money, they will be the ones to take these houses and pay back the money of those who funded us,”

“This money is not the money of the Central Bank or the Ministry of Finance, this money we are using against our fixed assets belongs to Commercial Banks, and these five Banks are; Ivory Bank, Nile Commercial Bank, South Sudan Commercial Bank, Alpha Bank, Africa National Bank.”