Mayang Tut who brainstormed with his friend Simon Chaw to start a boda-boda business that gave birth to what they currently have as NileBoda Company.

The Chief Executive Officer of the Nile Boda Company says the sanctions imposed on South Sudan are frustrating young people’s efforts to venture into lucrative businesses with the outside world.

South Sudan’s oil industry is currently under United States sanctions that were declared during the civil war.

According to Progressive Magazine, the sanctions, which were meant to “choke off war funds” have prevented the country from using its natural resources (3.5 billion barrels of proven oil reserves) to reduce its extreme energy poverty.

Mayang Tut, an innovative motorcycle owner in Juba says the country’s tax and investment policies have discouraged foreign investors from coming to South Sudan.

Speaking during the forum on young entrepreneurs on Thursday, Mayang said the sanctions imposed on South Sudan have limited money coming into South Sudan, and they are often denied grants from abroad.

“If you apply for a grant that cost maybe one million dollar or five hundred thousand dollars they can verify your information and then they will contact your national financial institution,” said Mayang.

“Now, they will ask how the national banks operated if this is the right way they can invest, then they will review policies charges taxation and everything and if it doesn’t work for them they will definitely back off.”

The entrepreneur also said “there is a limited amount of money that can come to south Sudan because of the sanctions.”

On Thursday, young entrepreneurs and intellectuals gathered for the “Come let’s Read Initiate” held at the University of Juba to share the experiences of young people in the business sector.

In September 2022, the head of African Energy Chamber urged the United States to remove its oil industry sanctions.

The Crisis Group has stated that sanctions on South Sudan must be specific in their targets and time-frames, and have clear off-ramps.

NJ Ayuk, Executive Director of the group said the sanctions are hindering foreign investments in South Sudan’s oil and gas sector including the production of natural gas.