Complications Facing Gold Exports

Former head of the Sudanese Association of Goldsmiths, Traders, and Exporters, Atef Ahmed, revealed complications with the proceeds from gold exports to Egypt, particularly in terms of banking transfers, as dollars are not transferred to exporters due to the unstable value of the Egyptian pound, which is not recognized by the Central Bank of Sudan.

Atef disclosed that exporters are struggling due to the lack of currency exchange for export proceeds in banks. He stated, “The Central Bank must instruct banks to purchase these proceeds,” adding, “Once the proceeds are converted in advance, exports can be shipped anywhere, whether to Turkey or Egypt.”

He also pointed out local complications, such as bureaucratic delays in obtaining export certificates, and said, “We demand the implementation of a unified window, but it has not been executed yet, and each entity continues to operate independently, obstructing the export process and wasting clients’ time.” Atef emphasized the need to expedite the implementation of the unified window, considering it a necessity to facilitate the export process, enhance exports, and consequently strengthen the state’s treasury with foreign currency.

Atef noted that gold prices in Sudan have declined, with the raw gram priced between 182,000 to 185,000 Sudanese pounds.