Khartoum: The Khartoum Stock Exchange resumed trading from the capital, Khartoum, on Tuesday, in the presence of State Minister at the Ministry of Finance Mohamed Nour Abdel-Daim, the Exchange's Director-General Dr. Ali Khalid Al-Fewail, representatives of the Capital Markets Regulatory Authority, shareholders, traders, and brokerage firms.
According to Sudan News Agency, Abdel-Daim addressed the launch ceremony, stating that the Exchange's return to operation from Khartoum marked the beginning of the recovery of state and financial institutions and reflected the ability of economic and productive sectors to recover and resume activity. He highlighted that trading resumed following extensive efforts by the Exchange's staff, relevant authorities, and stakeholders.
Abdel-Daim also mentioned that the Ministry of Finance was preparing to establish a Sudan Reconstruction Fund to enable donors and partners to channel their contributions directly toward reconstruction and rebuilding projects through a clear mechanism for directing financing and support to reconstruction purposes. Furthermore, the ministry is consulting with the Capital Markets Regulatory Authority to establish flexible financing mechanisms, financial instruments, and investment funds to help mobilize the resources required for the reconstruction phase.
The State Minister emphasized the importance of the Khartoum Stock Exchange beyond the buying and selling of shares, describing it as a national market that helps mobilize savings and channel them into domestic investment to support reconstruction, expand partnerships, increase capital, and finance infrastructure projects. He urged investors and listed companies to expedite the preparation and publication of updated financial statements to strengthen disclosure and transparency, helping determine the fair value of shares, and providing a clearer picture of companies' assets, liabilities, and recovery plans.
Abdel-Daim stated that the next phase would require coordinated efforts by all relevant institutions to strengthen the market's role in supporting the national economy. He noted that the Exchange could help provide financing for infrastructure, reconstruction, and efforts to address the effects of the war through a range of instruments, including equities, sukuk, and other Islamic financing structures suited to the needs of companies and projects. He described the resumption of trading as a historic day in the recovery of Sudan's national economic and financial institutions, expressing appreciation to the staff of the Khartoum Stock Exchange, the Capital Markets Regulatory Authority, brokerage firms, and all parties that contributed to the resumption of activity.
For his part, Director of the Capital Markets Regulatory Authority, Dr. Ahmed Onour, stated that the resumption of secondary-market trading was an essential step toward restoring activity in the primary market, including new issuances and public offerings. He mentioned that the coming period would see efforts to expand the base of listed companies and activate capital, commodities, and gold markets. Plans to establish and operationalize new exchanges, including markets for agricultural commodities and gold, were also disclosed, with a steering committee formed to advance the initiative.
Onour announced that Minister of Finance Dr. Gebreil Ibrahim had approved a 50 percent reduction in trading commissions, describing the decision as an incentive for brokerage firms and a measure to support efforts to revitalize trading.
Meanwhile, Representative of the Sudanese Banks Union, Dr. Montaser Ahmed Al-Aghib, said the resumption of trading marked an important step in Sudan's economic recovery and the return of financial activity to Khartoum State. He noted that the banking sector was entering an important phase that would include increasing banks' capital, subscriptions, and reforms to the banking sector in coordination with the Central Bank of Sudan. The Sudanese Banks Union includes 25 banks listed on the Khartoum Stock Exchange, and Al-Aghib added that the resumption of secondary-market trading through an electronic system represented an important development, making trading easier and more efficient for brokerage firms and listed companies. He commended the Exchange's management for its efforts to resume trading and for creating a conducive environment for renewed financial activity.
Source: Sudan News Agency