Revealing the Exit of 70% of Export Companies from the Market

The former Secretary-General of the Chamber of Commerce, Abubakar Al-Siddiq, revealed that 70% of export companies have ceased their operations, noting that all exports currently occur through “hawala” (a traditional money transfer system). He emphasized that “hawala” exports are a liability for state revenues because they do not pay taxes or customs duties.

Al-Siddiq held the Governor of the Central Bank of Sudan responsible for this situation due to the banning of national export companies that faced challenges in retrieving export proceeds because of the war circumstances. He disclosed that the governor had refused to meet with the owners of these companies to reach settlements that would allow them to resume their activities, which has directly impacted exports, imports, and market activity in general, as well as customs, zakat, and tax revenues. He noted that the Central Bank had granted these companies a two-month grace period to regularize their situation, a period in which only a very few succeeded, while others requested an extension of up to six months.

In his interview with Al-Ahdath, he linked the resolution of the current trade situation to the implementation of the recent decisions by the Minister of Trade and Supply, warning against delaying the necessary reforms and pointing out that most export company owners have been affected. He criticized the conflicting decisions, mentioning that the Minister of Trade issued a decision which was later reversed, requiring documents to be certified from Sudanese consulates abroad, with preliminary invoices approved by them. He pointed out that this matter had been discussed with the Ministry of Trade and an agreement was reached in a positive direction, but the bank continued to block discussions. He also noted that the absence of a commercial chamber in Port Sudan, the administrative capital, had led to each entity making independent decisions, further complicating the situation, especially regarding the obstacles in transporting goods from Al-Foula and Al-Nuhud.

He warned that this situation has led the global market to seek alternative sources for Sudanese exports, raising concerns about the collapse of the sector.