Khartoum — Sudan’s government and its businesses have begun introducing financial reforms and lobbying for new investment to revive the economy after Washington lifted 20-year-old trade sanctions earlier in October. Sudan has suffered from the sanctions and the south’s secession in 2011, when it lost three-quarters of its oil output, its main foreign currency source. Now, Khartoum businessmen say they are closing deals with US companies, and President Omar al-Bashir began a trip to Qatar, Kuwait and Saudi Arabia this week, seeking new markets for Sudanese exports and Arab investment in Sudan. "We expect the sanctions decision to increase Sudan’s agricultural and animal exports by 25% by the end of the coming year," said Wagdy Merghany, the head of the Sudanese Exporters Union. "The lifting of the sanctions opens up new markets for Sudanese exports." The central bank has started pushing Sudan’s banks to circulate dollars, to alleviate a foreign currency shortage. Banks can now use do...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.