Finance

Barclays exceeds profit expectations in Q1.

Published

4 hours ago

April 30, 2025

Barclays exceeds profit expectations in Q1.

Barclays Bank Reports Strong Performance Boosted by Investment Bank

British bank Barclays reported a strong performance in the first quarter of the year, with pre-tax profit exceeding analyst expectations at £2.7 billion. Group revenues also surpassed projections, reaching £7.7 billion.

Investment Bank Unit Sees 16% Increase in Income

The income from Barclays’ investment bank unit increased by 16%, contributing to the overall profitability of the bank. The return on tangible equity reached 14% in the first quarter, a significant improvement from the previous quarter.

U.S. Exposure and Market Volatility

Barclays’ significant presence in the U.S. market, especially after acquiring Lehman Brothers, has raised concerns about navigating the market storm caused by global trade tariffs. CEO C.S. Venkatakrishnan acknowledged the potential for high market volatility going forward.

Challenges and Opportunities in the U.S. Consumer Bank Business

Barclays’ U.S. consumer bank business has shown growth, with a 9.1% return on tangible equity in 2024. Despite initial setbacks due to trade war concerns, Barclays shares have rebounded and remain up 10% year-to-date.

Impact of Brexit on Economic Relations

Britain’s impending exit from the European Union could present economic opportunities, especially in trade relations with the U.S. London is seeking to leverage its historical ties with the U.S. to secure favorable trade agreements.

Industry Shifts and Competitor Strategies

Barclays’ competitors, such as HSBC and Banco Santander, are undergoing strategic shifts in their investment operations. HSBC plans to wind down certain businesses, while Santander is restructuring its staff and branch network.

Future Outlook and Uncertainties

Barclays remains cautiously optimistic about the future, acknowledging the potential for economic uncertainties and market fluctuations. The bank is focused on managing risks and supporting clients through volatile times.

Finance

South Sudan Business Taxation Crisis: How Multiple Levies and Barriers Are Shutting Down Trade

Published

17 hours ago

April 29, 2025

Peter James

South Sudan Business Taxation Crisis: How Multiple Levies and Barriers Are Shutting Down Trade

South Sudan Business Taxation Crisis: Multiple Taxes & Barriers Threaten Economy

By Peter James | South Sudan Online | Juba, South Sudan
Published: May 1, 2025

Introduction

South Sudan’s private-sector lifeline is under severe strain. Reports to the Ministry of Trade and Industry reveal that many enterprises are closing because of multiple taxation, non-tariff barriers, roadblocks, harassment and unauthorized levies. Unless sweeping reforms are enacted, the nation risks an economic shut-down.

Key Business Threats

At the First National Trade Forum 2025 in Juba, Trade Minister Atong Kuol Manyang Juuk identified four principal threats now jeopardising commerce:

Multiple Taxation – overlapping fees demanded by national, state and local authorities.
Non-Tariff Barriers – unregulated checkpoints, permits and paperwork that delay goods in transit.
Roadblocks & Harassment – informal levies collected by security personnel along major highways.
Unauthorized Levies – charges imposed without any lawful mandate.

“Businesses are closing because compliance costs are unbearable,” the minister warned. “If we fail to act, the ripple effect will cripple households, widen unemployment and erode public confidence.”

Chamber of Commerce Issues Red Alert

The National Chamber of Commerce echoes the ministry’s concerns, calling the tax regime “flawed and burdensome.” Deputy Chairperson John Lual condemned a “silent trade war” in which uncoordinated taxes from multiple institutions force traders—both domestic and foreign—to scale back or quit entirely.

Impact on Prices and Investment

Disorganised taxation directly fuels inflation. With every level of administration seeking its own levy, transaction costs can double or triple, eroding profit margins while pushing retail prices ever higher. Cash-strapped consumers, already reeling from currency volatility, shoulder the burden.

Meanwhile, investors are retreating. The uncertainty of shifting fees, fines and unofficial tolls discourages long-term capital, further dimming prospects for job creation.

Empowering SMEs, Women and Youth

Minister Atong emphasised that any reform must prioritise small and medium-sized enterprises (SMEs), especially those led by women and youth—groups that account for a significant share of South Sudan’s informal workforce.
Proposed measures include:

Consolidating licensing and tax registration under one authority.
Digitising all official payments to reduce face-to-face harassment.
Establishing a one-stop investor service centre in Juba to streamline approvals.

Lessons from the Region

Neighbouring countries have shown that simplifying taxes and dismantling non-tariff barriers can reignite growth, boost government revenue through improved compliance and restore investor confidence. South Sudan can replicate those gains—if political will matches policy intent.

Conclusion: Reform for Survival

South Sudan stands at an economic crossroads. Eliminating multiple taxation, cutting non-tariff barriers and banning unauthorized levies are no longer optional. They are prerequisites for stabilising prices, protecting livelihoods and attracting the investment essential for long-term prosperity.
The choice is stark: decisive reform—or an avoidable slide into deeper economic distress.

South Sudan Online will continue monitoring all developments on trade, taxation and private-sector reform.

Finance

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Published

1 day ago

April 29, 2025

Peter James

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Finance

South Sudan revenue agency advises traders to anticipate import costs.

Published

2 days ago

April 28, 2025

Peter James

South Sudan revenue agency advises traders to anticipate import costs.

Importers Urged to Properly Calculate Expenses to Avoid Unnecessary Losses

The Deputy Commissioner General of South Sudan Revenue Authority (SSRA) is urging importers to properly calculate all expenses, including the cost of transporting goods from Kenya to South Sudan to avoid unnecessary financial losses.

Goods Worth Millions at Risk of Auction

Media reports have stated that goods destined for South Sudan worth millions of Kenya shillings would be auctioned, including United Nations’ shipments. According to the Kenyan media, critical construction materials, electrical components, food items, and other consumer goods essential for businesses in South Sudan are among the goods at risk.

Auctioning Exercise Targeting Importers

The notice issued on March 17 under Section 42 of the East African Community Customs Management Act 2004, states that the goods would be deemed abandoned and sold through a public auction set for May 5–9, 2025. Deputy Commissioner of South Sudan Revenue Authority, Mr. Taban clarified that the goods belong to business entities, not the government.

Reasons for Auctioning

The scheduled auctioning exercise is targeting importers who were unable to clear their goods within the individually owned land. Mr. Taban explained that excessive storage fees at the Inland Container Depot in Nairobi can quickly surpass the value of the goods being held.

Proper Budgeting Essential

The SSRA Deputy Commissioner is urging importers to appropriately budget for their goods and services destined to South Sudan to prevent losses at the port. It is crucial to calculate all costs, including transportation to the final destination, to avoid incurring excessive fees.

Impact of E-taxation

With the introduction of E-taxation, it has become increasingly difficult for some importers to smuggle goods into South Sudan, as they now risk having their goods auctioned in Kenya. This highlights the importance of proper planning and budgeting for importers to avoid financial setbacks.