Abdelmoneim Hassan
The decision by fuel import companies to officially deposit gold collateral with the Central Bank, in accordance with the required value through the Gold Refinery Company Ltd., represents, in my view, a genuine victory for the Sudanese economy. It signifies that the stipulated conditions have been fulfilled, banking channels have been opened, and the parallel market has lost one of its most powerful instruments.
This, however, is not the end of the journey but rather an encouraging indication of a promising beginning. Now that gold has become an official reserve held in the state’s vaults, the outlines of the next strategic step are beginning to emerge with increasing clarity.
If this bold monetary policy succeeds, I believe the way will be open for Sudan to think strategically and ambitiously about issuing a Sudanese digital currency backed 100 per cent by gold, alongside projects such as the production of a gold-backed national currency—one supported by tangible reserves, insulated from speculative pressures, and capable of restoring confidence in the Sudanese pound.
From today onwards, gold should no longer be regarded merely as a commodity smuggled across borders. Instead, it has the potential to become the foundation of our economy, the guarantee behind our currency, and the starting point for genuine financial independence.
I believe Sudan has entered a fierce confrontation with those who profit from economic crises and with those who facilitate their activities. This battle cannot be separated from attempts to besiege and destabilise El Obeid, making it imperative that confronting these threats becomes a collective responsibility shared by all state institutions rather than an exercise in assigning blame to any single institution. At the same time, the process of institutional reform must continue without interruption.
Sudan’s system of governance must demonstrate greater cohesion and resilience in the face of the greed of the brokers of crisis, whose actions, in the author’s view, cannot be divorced from the schemes of those hostile to Sudan, implemented through local proxies and external networks serving broader international interests.
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