"Participation Builds Unity"
"MADE IN AFRICA - FOR AFRICA"
"Participation Builds Unity"
"MADE IN AFRICA - FOR AFRICA"
PRESENTS
FINANCING SME'S IN SUDAN
AbdelGadir WARSAMA (Dr)
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05 June 2005 - Sudan
In Sudan like many other countries Small & Medium Enterprises (SME's) play a very important role in the national economy.
Certain banks and financial institutions are taking care of financing SMEs. However, there are many problems associated to such finance including non-availability of collateral, lack of business plans, lack of proper accounting and book keeping, no marketing avenues or plans, no skillful know-how or training ...etc.
The Sudanese Saving Bank, The Agricultural Bank of Sudan, The Animal Resources Bank, Al-Neilien Industrial Bank ... plus other financial institutions are mainly focusing in financing SMEs because it is part of their objectives to support them (SME's). Commercial Banks, almost in all places, are not trained or structured to deal with SMEs and to fill this vacuum these specialized banks were established. The government is actively involved and is committed in supporting the policies and following their implementation.
There are very successful stories wherein those banks/financial institutions supported poor people and poor communities and the results were great.
Finance has been given to support small shops, farms, factories, artisan works, home-made food, poultary, ladies dress and perfumes ...
They are given little loans under personal or family guarantees with grace period for payment and future support in case of successful projects/payments.
SMEs are still in need of more moral and financial support and we have recommended that the government should aggressively puruse its plans in streamlining and supporting all institutions working towards this goal.
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