Sudan plans to privatise army-owned companies 'soon'

Talks with Middle East nations to fund its cash-strapped economy have begun, finance minister says

Sudan has been rocked by violent protests in response to the October 25 military takeover by army chief Gen Abdel Fattah Al Burhan. EPA

Sudan plans to privatise companies owned by the military, Finance Minister Gibril Ibrahim says.

Also, talks with Middle East nations to help finance its cash-strapped economy have begun, Mr Ibrahim said at the annual meetings of the Islamic Development Bank in Sharm El Sheikh, Egypt.

“All commercial companies will be put up for public subscription, except for companies that produce weapons,” Mr Ibrahim told Bloomberg. "And that will be soon."

The government is on track to shut many of the country’s 650 state-owned companies and privatise others, he said.

The privatisation move would keep to a series of proposed reforms suggested after a popular uprising ousted Omar Al Bashir in 2019.

Sudan has been rocked by violent protests that began across much of the country in response to the October 25 military takeover by army chief Gen Abdel Fattah Al Burhan.

On Friday, one protester died after being shot in the chest by security forces as thousands swarmed the streets of the capital Khartoum, taking the total death toll to 99.

The minister’s comments come as the military leaders prepare to hold direct talks with civilian politicians and activists next week for the first time since the takeover.

Sudan is seeking funding after decisions by the US, the EU and the World Bank to suspend billions of dollars in assistance.

“There are talks with Gulf countries such as Saudi Arabia, the UAE and Qatar,” Mr Ibrahim said. “We hope that these talks yield results. It is difficult to talk about specific amounts.”

The three countries recently pledged more than $20 billion in investments and deposits to support Egypt.