The government of Sudan has announced the temporary ban of 19 products including food products. The measure came into effect last Thursday and it aims to protect the local currency and reduce the county’s budget deficit.
It is implemented as the Sudanese pound keeps falling to the dollar since the lifting of US economic sanctions. This will lead to a boost of Sudan’s imports and affect availability of foreign currencies in the country. Indeed, though the Central bank has kept exchange rate at 6.7 Sudanese pounds for a dollar, the scarcity of the currency in the formal circuit forces importers to turn towards the black market.
On this market, the rate was 27 Sudanese pounds for a dollar, the apex bank revealed last month. The institution had at the time announced emergency measures to reverse the trend, but performances recorded so far are mitigated as, according to Reuters, the exchange rate is currently at 25 pounds for a dollar on the black market.
Aaron Akinocho
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
This week in African health news: Global measles cases have dropped nearly 80 percent since 2000, but major challenges remain across the continent....
Impact funds in Africa manage $70-80B; half operate solely on the continent 124 of 250 identified funds invest exclusively in Africa, FERDI...
Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges reforms in governance, talent, finance and R&D to...
The government launched FUGAS, a new digital administrative and payroll system, as a strategic reform tool. The initiative forms part of a broader...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...