Sudan

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The Republic of Sudan is located in the northeastern part of the African continent geographically but it is considered part of the Middle East culturally and politically. It is the third largest country in Africa with an estimated population of 45,202,851 million (2021) and a GDP of 35.83 billion USD (2021), the mining industry of Sudan was mostly driven by extraction of fuel and minerals, with petroleum accounting for a substantial contribution to the country's economy, until the autonomous region of Southern Sudan became an independent country in July 2011. Sudan has a long history and a big heritage of Mining culture which goes back to three thousand years when Nubians extracted gold, base metals and smelted iron to make water wells. The country became independent in 1956 and has had numerous changes in government since then, and is one of the 20 countries producing 38% of the world’s Gold

Quick Facts

Gold

Primary Mineral

> 50 million MT

Estimated Reserves

Undisclosed

Tax Benefits

> 50

Active resource businesses

Sudan is rich in arable land, natural resources, a young workforce, and agricultural opportunities, however, the secession of the oil-rich South in 2011 initiated a declining economic trend. Sudan has been an important gold producer since the Pharaonic times, probably for over 3000 years.

Sudan is ranked 171 (out of 190) in the World Bank’s Ease of Doing Business ranking, which classifies economies according to their ability to provide a conducive business environment, what is required of one to start up a business is basically Applying for registration and reserving a business name. Then going down to TIN (Tax identification number) and VAT (Value added tax).

Sudan’s economy is projected to remain in recession in 2021, with a return to modest growth expected in 2022. Agriculture and mining will drive growth on the supply side, and private consumption and investment on the demand side. Sudan has three preferential trade agreements in force. The trade-weighted average tariff rate is 17.5 percent. Sudan is not a member of the World Trade Organization. Years of social conflict and civil war have undermined investor confidence. I.e most investors find it unsafe to establish investments in the country due to conflicts and crisis, and that affects the economy of the country.

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