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Oil-rich South Sudan seeks investment in fragile new peace

JUBA, South Sudan — South Sudan is making its first big foreign investment pitch since declaring an end to civil war, but the oil-rich nation faces hesitation from some companies that want to make sure the fragile new peace deal holds.

The country is eager to make up for $4 billion in lost revenue caused by the five-year conflict.

South Sudan’s oil minister says more than 400 international and local companies are attending this week’s Africa Oil & Power Conference in the capital, Juba. That’s up from the 300 that attended the initial conference last year.

Minister Ezekiel Lol Gatkuoth says people are responding to the potential of South Sudan, whose economy is almost entirely dependent on oil exports.

But one analyst says Western companies are taking a more “wait and see” approach.

The Associated Press