Expert: Sudan Reconstruction Road Map

Sudan Events – Nahid Oshi

Economist Dr. Haitham Mohammed Fathi has predicted that there are great opportunities for the banking sector after the end of the war to improve the process of financial services management
In statement to (Sudan Events), the expert has stressed that when the war stops and the reconstruction and rehabilitation phase of the capital begins, there will be an increasing interests in financial services by customers. He added that development in Sudan could be without large and diversified investments whose limits reach the equivalent of 40% of the volume of gross domestic investment in order to achieve growth rates of up to 6%, as well as achieving a major development shift in which the structure of the national economy, bridging the gap between it and the slowdown in reform and development, the decline in growth rates, the decline in individual income, and the worsening problem of unemployment.
Fathi pointed out that encouraging investment requires activating the banking and financial systems in order to grant medium and long-term loans, whether for the purpose of establishing production or service projects, in addition to localizing joint-stock companies and offering their shares for public subscription, in order to transfer national savings and make them an effective investment mass.
He said, in order to move the wheel of the Sudanese economy after the war and during the process of reconstructing the Sudanese state and its economy, it is the responsibility of the banks to support and finance the owners of small and medium enterprises, particularly as these projects contribute to the provision of necessary commodities and services and save the state against importing with hard currency. These projects, according to international statistics, accommodate more than 70% of the labor force, and by this means, unemployment and poverty are addressed
He was of the view that financing projects does not fall on banks alone, but rather, government bodies or social institutions must provide financing to organize lending operations and ensure their success for which they were established.