South Sudan's English Daily Newspaper
"We Dare where others fear"
By Simon Deng
The government has introduced the Electronic Cargo Tracking Note (ECTN) in a bid to remedy challenges of underestimation, undervaluation, and diversion of cargo and round-tripping.
Bak Barnaba Chol, the minister of finance and economic planning issued ministerial order on Monday in Juba, operationalizing with immediate effect the electronic cargo tracking note that will be implemented by the South Sudan Revenue Authority together with the contracted company INVESCO Uganda limited and other partners such as PANDA and Crawford Capital.
“By this order the electronic cargo tracking note will be mandatory for all goods destined to South Sudan and all goods leaving South Sudan with immediate effect,” it said.
Chol said that the implementation of the electronic cargo tracking note will maximize revenue collection as the youngest nation struggles to stabilize its weak economy.
The South Sudan Pound (SSP) has continuously been losing value against the U.S. dollar since 2023.
The SSP is currently trading with the dollar at 1800 SSP from 1200 in January 2024.
South Sudan heavily depends on oil revenue to finance 95 per cent of it’s annual fiscal budget.
The country joins it’s neighbors in the regional trade bloc, East African Community (EAC) such as Tanzania, Uganda and Kenya in implementing the electronic cargo tracking system.
