The coup in Sudan last week has led to hostility, a deadly crackdown on protesters and an internet blackout, which are proving costly to the country's young entrepreneurs and emerging business community.
The political turmoil forced the closure of not just online stores, but also the suspension of contracts with western investors and multinationals, while international aid is threatened again.
Mostafa Mohamed Soliman, 29, is passionate about e-commerce. In September last year, he launched an online marketplace for men’s clothing, offering affordable prices.
His business employs a dashboard administrator as well as an operation and stock managers. He also deals with a network of delivery drivers in Khartoum. The start-up used to average between $300 and $500 a day in sales before the coup. Now he feels the economic pinch.
“We have become offline because they are blocking the internet. Traffic is zero and we receive no orders,” Mr Soliman told The National. "We used to have 500 visitors a day."
Khartoum after the downfall of Omar Al Bashir, the lifting of US sanctions and getting pledges of signficant economic support and multilateral loans has become a very promising and attractive market for many business-oriented Sudanese.
The market in Khartoum is hungry for any kind of business. Even if you open a bakery or a café, you will make handsome profits. Unlike other markets in the region
Mostafa Mohamed Soliman,
Sudanese entrepreneur
“The market in Khartoum is hungry for any kind of business. Even if you open a bakery or a café, you will make handsome profits,” said Mr Soliman, who studied business administration in the Westminster International College in Malaysia and returned to Khartoum in 2015.
"Unlike other markets in the region. Cairo, for example, is saturated and it’s very competitive out there, not just because of the competition, but also the hegemony of big companies. Now our gains and dreams are at stake because of politics."
The latest takeover in a country that has suffered one coup after another since its independence in 1956 could derail the hard-won economic gains and reforms to bring back Sudan into the global financial system after decades as a pariah state under Al Bashir.
The World Bank has paused its economic aid and stopped processing any new operations in the country.
The current political stalemate did not come without warning. Last month, there was a failed coup attempt blamed by the army on people loyal to Al Bashir, the former dictator who ruled Sudan for nearly three decades and was removed by a coup in April 2019 after mass protests.
Just weeks later, the army dissolved the Cabinet of Prime Minister Abdalla Hamdok and detained several ministers. Mr Hamdok has been placed under house arrest, though he was allowed to meet Sudanese mediators close to the military and the civilian politicians in an effort to convince him to lead a new government.
The situation has become a full-blown crisis and looks trapped in a vicious circle. Mr Hamdok insists on a playback of the days before the coup, reinstating a constitutional declaration and setting the stage to free elections and involving his colleagues in a split civilian alliance that led the protests against Al Bashir two years ago.
The army does not want any involvement by civilian politicians who were at the forefront during the transitional period. The protesters on the streets, in turn, vow to remove Mr Hamdok, again, if he agrees to deal with the military and revive his brainchild of a power-sharing model.
Multinationals scared away
One of the consequences of the political labyrinth is that foreign investors become nervous.
Husameldin Elnasri, managing director of a business consultancy, tweeted in Arabic earlier in the week that he lost four contracts with multinational companies as a result of the political crisis.
The Sudanese Twitterati’s response revealed many examples of people with similar experiences.
“I have been working on a project on capacity building for Sudanese university professors. I managed to convince Mastercard and University of Toronto to invest more than $3 million. Everything ended at a glance because of the stupidity of the army. I won’t forgive anyone who believes coups are a good thing,” was one of the replies.
The military head, Gen Abdel Fattah Al Burhan, paid tribute to the civilian leader he removed from power, saying he agreed with Mr Hamdok's initiatives on numerous occasions but, ultimately, the prime minister was unable to work freely as long as he was being held back politically.
The general's main criticism was reserved for the Forces of Freedom of Change, a group of allied politicians, civilians and rebel groups that called for the removal of Al Bashir.
Gen Al Burhan has insisted the military takeover was not a coup. Instead, he said, he wanted to "rectify the course of the Sudanese transition".
Protest leaders are not convinced and insist that the general wants to maintain the army’s traditional control over Sudan.
Referring to the economic and political lessons of the past three decades under Al Bashir, Jonas Horner, the Deputy Director for the Horn of Africa and senior analyst for Sudan at International Crisis Group, could sense the frustration of the aspiring entrepreneurs of Khartoum.
“Sudan's economy is probably the most important component of this transition. If Sudan does not get on top of its economic problems, probably very little else matters and a lot of the political wrangling will itself be subsumed by the weight of economic collapse,” Mr Horner told The National.
Until he was removed by the military on October 25, Mr Hamdok ran the country's transition as a former World Bank economist, laser-focused on repairing the ties to international bodies that can help bail out the country, pushing through reforms he hoped would solve the country's financial woes.
But the impact these reforms have on the 44 million people, already squeezed by years of neglect, a deep financial crisis and the Covid-19 pandemic, was painful. Fuel subsidies have been fully lifted and food prices have increased significantly. Inflation soared and ordinary people struggle to get by.
But now, the political instability is the biggest obstacle to a prosperous economy for everyone.
The takeover has sparked a chorus of international condemnation and punitive aid cuts, with world powers demanding a swift return to civilian rule.
Mr Horner says that the military and civilian politicians speak loudly to hear each other, but they don’t listen. They need to speak softly to save the country.
“Sudan has a range of real economic opportunities. It sits on the Nile,” he said.
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MATCH INFO
Al Jazira 3 (O Abdulrahman 43', Kenno 82', Mabkhout 90 4')
Al Ain 1 (Laba 39')
Red cards: Bandar Al Ahbabi (Al Ain)
Emirates Cricket Board Women’s T10
ECB Hawks v ECB Falcons
Monday, April 6, 7.30pm, Sharjah Cricket Stadium
The match will be broadcast live on the My Sports Eye Facebook page
Hawks
Coach: Chaitrali Kalgutkar
Squad: Chaya Mughal (captain), Archara Supriya, Chamani Senevirathne, Chathurika Anand, Geethika Jyothis, Indhuja Nandakumar, Kashish Loungani, Khushi Sharma, Khushi Tanwar, Rinitha Rajith, Siddhi Pagarani, Siya Gokhale, Subha Srinivasan, Suraksha Kotte, Theertha Satish
Falcons
Coach: Najeeb Amar
Squad: Kavisha Kumari (captain), Almaseera Jahangir, Annika Shivpuri, Archisha Mukherjee, Judit Cleetus, Ishani Senavirathne, Lavanya Keny, Mahika Gaur, Malavika Unnithan, Rishitha Rajith, Rithika Rajith, Samaira Dharnidharka, Shashini Kaluarachchi, Udeni Kuruppuarachchi, Vaishnave Mahesh
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
The biog
Favourite pet: cats. She has two: Eva and Bito
Favourite city: Cape Town, South Africa
Hobby: Running. "I like to think I’m artsy but I’m not".
Favourite move: Romantic comedies, specifically Return to me. "I cry every time".
Favourite spot in Abu Dhabi: Saadiyat beach
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Company%20Profile
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Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
What is an FTO Designation?
FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes.
It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.
Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.
Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.
Source: US Department of State
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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The view from The National
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
UAE currency: the story behind the money in your pockets
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
RESULTS
6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m
Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)
7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m
Winner: Walton Street, William Buick, Charlie Appleby.
7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m
Winner Switzerland, Tadhg O’Shea, Satish Seemar
8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m
Winner Lord Giltters, Adrie de Vries, David O’Meara
8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m
Winner Military Law, Antonio Fresu, Musabah Al Muhairi.
9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m
Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor
10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m
Winner Equilateral, Frankie Dettori, Charles Hills.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
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WITHIN%20SAND
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
