Home | News    Monday 18 February 2013

Bashir discusses investment difficulties with Zain Telecom directors

separation
increase
decrease
separation
separation

February 18, 2013 (KHARTOUM) – The Sudanese president Omer Hassan al-Bashir met on Wednesday with several members of Zain Telecom’s board of directors for discussions that focused on difficulties facing their investments in the country.

JPEG - 14.7 kb
Sudanese president Omer Hassan al-Bashir meeting with Zain Telecom directors February 13, 2013 (Al-Anba newspaper)

The Kuwait-based Al-Anba daily said that Zain was represented by Assad al-Banwan who serves as the Non-Executive Chairman of the Board of Mobile Telecommunications Co KSC (Zain), Deputy Chairman Abdul Aziz Al Nafisi along with Board members Bader Nasser Al-Kharafi and Jamal Al Kandary.

The newspaper said that Zain’s delegation briefed Bashir on the status of their investments in Sudan and ways to remove obstacles preventing its growth. They however, expressed their understanding of the economic situation facing Sudan and the ability of the government to overcome it.

Bashir on his end expressed appreciation for Kuwaiti investments in his country and pledged to overcome all impediments facing it.

In recent years Zain began experiencing an unfavorable business climate caused by the erosion in the value of the local currency against the dollar and move by the government to raise sales taxes on telecom companies to 30 percent from 20 percent and a profit tax to 30 percent from 15 percent.

Furthermore, Sudan’s central bank prohibits foreign companies from repatriating their profits abroad and in the case of Zain this has been ongoing for several years.

Sudan is in the midst of an economic crisis resulting from South Sudan’s independence in July 2011. The newborn nation contained 75% of the oil wealth that existed under the formerly-united country.

South Sudan’s oil production represented more than a third of Khartoum’s revenues and its largest source of hard currency, leaving the government struggling for alternatives since the South’s independence.

Last June, the government devalued the official foreign exchange rate as part of measures to compensate for the loss of South Sudanese oil.

It also raised taxes, allocated more funds for social spending and increased the pump prices of fuel by about 50 percent to reduce petroleum subsidies.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 18 February 2013 09:27, by william mawien

    The diffculties are
    no money in sudan
    sudan has no future
    so withdraw your company from sudan
    sudan is poor you will not benefit from sudan

    repondre message

  • 18 February 2013 18:10, by cbuongdit cholkua

    Stop crying always South’s oil, it wasn’t yours anyway. You should thank South Sudan for not asking you any compensation; because you have been using it for this long period of time. And that’s what happen when a man left his beloved family. No 1. Family begins facing the hunger strike, 2. kids start going door to door looking for food to eat. 3. wife also starts to file for divorce and finally

    repondre message

  • 18 February 2013 18:19, by cbuongdit cholkua

    start whoring around. Since the south gone and two ex- boyfriends are dead, there is no live worth living in north Sudan without the help of Sadam hussein and CLT Gadaffi. Hell hell hell hell hell

    repondre message

  • 18 February 2013 21:42, by James Maker Akok

    LOL, the beginning of cryings is started and the more are cryings coming!

    repondre message

    • 19 February 2013 14:41, by James Maker Akok

      I mean, and the more cryings are coming

      repondre message

    • 19 February 2013 14:45, by James Maker Akok

      LOL, the beginning of crying started and the more cryings are coming!

      repondre message

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


The looming crisis of constitutional legitimacy in South Sudan 2015-01-27 09:27:20 By Luka Biong Deng The way government gets legitimacy has been at the centre of political inquiry. As political legitimacy is seen as individuals’ voluntary consent to be governed by the (...)

Stocktaking the path of the 59th anniversary of Sudan’s independence 2015-01-25 08:33:41 By Mahmoud A. Suleiman January 24, 2014 - The primary purpose of this article, besides highlighting on the Sudanese Independence Day, is the following up the events that accompanied the years (...)

Critique of SPLM reunification agreement in Arusha 2015-01-23 06:33:49 By James Okuk January 23, 2014 - The Agreement on the Reunification of the SPLM that was signed in January 21, 2015 in Arusha, Tanzania, suggests three problematic tends despite the fact that it (...)


MORE








Latest Press Releases


Sudan’s Security Services raid and order closure of Mahmoud Mohamed Taha Cultural Centre 2015-01-24 03:41:41 African Centre for Justice and Peace Studies (23 January 2015) At 11am on 18 January, the National Intelligence and Security Services (NISS) of Omdurman, Khartoum state, raided the Mahmoud (...)

Women groups announce their support for Sudan Call 2015-01-17 08:34:07 Position Statement from the Women’s Political Forces and Civil Society organizations and Groups on the Sudan Call To the People of Sudan We, the undersigned women, are fully motivated by our (...)

Norway grants US $1.9 million for humanitarian needs in Darfur 2014-12-16 06:47:08 The United Nations World Food Programme (WFP) - KHARTOUM Norway helps provide nutritious food to malnourished families in Sudan 14 December 2014 KHARTOUM – The United Nations World Food Programme (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.