The Central Bank of Sudan’s decision to abolish its gold export monopoly has been widely welcomed by exporters and economic experts, who see it as vital to increasing state revenues and curbing smuggling. The Gold Exporters Division said the monopoly had failed disastrously, allowing powerful companies to capture most profits while depriving the treasury of billions. The division highlighted that while gold exports totaled $6 billion in value over nine months, government revenue amounted to just $1 billion, exposing massive leakages in the system.
Exporters called on the Central Bank to supervise the export process transparently and treat all exporters equally. They demanded that no individual or company be given preferential rights and that gold exports should not be tied to import schemes that distort pricing and open doors to corruption. Analysts predicted that the decision would result in a surge in exports and a rebound in production levels, noting that the monopoly policy had drastically reduced the amount of gold reaching official markets.
Former Central Bank Consultant Anwar Mohamed Hamed Elias said the new policy would open opportunities for local investors, increase foreign exchange inflows, and relieve pressure on the Sudanese pound. He added that a freer market would encourage gold-backed currency stability, improve liquidity, and attract foreign investment. Similarly, Gold Division leader Atef Abdel Qader said the reform would restore confidence in the market and significantly boost exports in the coming months.
Economic analyst Mohamed Al-Nayer described the policy shift as a temporary but necessary response to Sudan’s economic challenges. He urged the government to establish a formal gold exchange in Khartoum to regulate trade and strengthen oversight. Al-Nayer emphasized that cooperation between the Central Bank, Ministry of Finance, and exporters is essential for the reform’s success and for building a sustainable system that turns gold into a reliable engine of national recovery.
