Sudan Political Turmoil Drives Fears Of Economic Collapse

Sales have tumbled at Hashem Abul Fadel's shopping centres in Sudan, where he and fellow business owners fear that months of political turmoil could bring on a full-scale economic collapse

Khartoum, (APP - UrduPoint / Pakistan Point News - 18th Jul, 2019 ) :Sales have tumbled at Hashem Abul Fadel's shopping centres in Sudan, where he and fellow business owners fear that months of political turmoil could bring on a full-scale economic collapse.

Sudan's ruling generals and protesters inked a deal on Wednesday aimed at installing a civilian administration and breaking months of political deadlock.

But the country's fragile economy has already been hard hit by months of mass protests which led to the military council's toppling of longtime president Omar al-Bashir in April.

Demonstrators have continued to demand a transition to civilian rule, keeping up their campaign despite a June 3 crackdown on a protest sit-in that left dozens dead.

Abul Fadel said the unrest had slashed his overall sales by 20-25 percent -- or as much as 40 percent for some items.

"The government has yet to announce its economic policies, and as an investor, I can't take any decisions in the current climate," he said.

The millionaire businessman depends heavily on imports to stock his five Khartoum malls, but he said many firms have stopped bringing in goods due to the uncertainty.

Fellow entrepreneur Mohammad Hussein Madwi, who owns a string of agricultural and manufacturing firms, echoed his concerns.

"Sales are down by at least 30 percent because of the lack of demand and the collapse of the Sudanese pound," Madwi said.