Banks pull out of South Sudan
14 July 2016 - 09:59
Africa's biggest insurers and banks, including Old Mutual and Standard Bank, are temporarily closing their operations and evacuating staff in South Sudan after violence between rival political factions left at least 272 people dead.The US deployed troops in the trouble-torn capital to secure its embassy and help evacuate non-essential personnel.Clashes erupted in the capital Juba on Thursday last week between President Salva Kiir and vice-president Riek Machar's forces and continued sporadically until Monday. The fighting disrupted operations at Standard's CfC Stanbic Bank and action had to be taken to protect employees, the Johannesburg-based lender said on Tuesday. ..
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