Unknown entities seize Sudan’s gold

Atef Ahmed, former head of the Goldsmiths, Traders and Exporters Division in Sudan, revealed the existence of several entities that purchase gold in large quantities and at prices higher than the global price. He expressed his astonishment at learning about this matter, and called on the regulatory authorities to investigate in order to protect the national economy, noting that gold prices in Sudan have decreased in line with global stock exchange prices.

Atef expressed grave concern in regards to the emergence of the aforementioned entities following the announcement of implementing the concept of a single window for gold exports, noting that these entities raise numerous questions about their true goals.

He also pointed out that the country is in a state of war, which requires the combined efforts of patriots for the benefit of the citizen suffering as a result of the ongoing conflict.

Atef revealed information regarding the decline in gold export operations from Sudan, attributing this to the obstacles facing gold traders in purchasing the proceeds. He criticized the Bank of Sudan’s recent decision that obligated oil companies the issuance of the import portfolio of goods for petroleum products, considering that the decision enhances certain companies’ ability to monopolize, and deprives the market of actual competition.

He warned that adopting a monopoly approach when it comes to export operations may lead to increased smuggling rates, stressing the necessity of facilitating procedures and minimizing any sense of bureaucracy, calling on the Bank of Sudan to purchase gold proceeds with ease and without restricting them to specific entities.