MICROCAPITAL BRIEF: Microfinance Market in Sudan Reaches 700k Borrowers, $352m in Funding

The Sudan Vision, a Sudanese daily newspaper, recently reported that, as of the end of 2013, the outreach of the country’s microfinance sector had grown to approximately 700,000 borrowers, up from approximately 490,000 the year before and 244,000 in 2011. Furthermore, according to statements attributed to Professor Badreldin Abdul Rahim, the head of the microfinance unit at the Central Bank of Sudan, the microfinance sector has garnered funding totaling SDG 2 billion (USD 352 million). These funds reportedly have been channeled to beneficiaries through 33 unspecified banks and 22 unspecified microfinance institutions in the country.

By A’kos Szebeni, Research Associate

Additional Sources and Resources:

Sudan Vision Article, “SDG 2 Billion Allocated for Microfinance,” http://news.sudanvisiondaily.com/details.html?rsnpid=233421

MicroCapital, July 5, 2013, “Sudan’s Northern Darfur Ministry of Finance Seeking to Improve Women’s Access to Microfinance,” https://www.microcapital.org/microcapital-brief-sudans-northern-darfur-ministry-of-finance-seeking-to-improve-womens-access-to-microfinance/

MicroCapital, March 5, 2013, “UN’s International Fund for Agricultural Development Grants $925,000 to Agricultural Bank of Sudan Microfinance Initiative Focusing on Women,” https://www.microcapital.org/microcapital-brief-uns-international-fund-for-agricultural-development-grants-925000-to-agricultural-bank-of-sudan-microfinance-initiative-focusing-on-women/

MicroCapital, January 9, 2013, “African Charitable Society for Mother and Child Care of Sudan Obtains $100k for Microfinance from Islamic Solidarity Fund of Palestine,” https://www.microcapital.org/microcapital-brief-african-charitable-society-for-mother-and-child-care-of-sudan-obtains-100k-for-microfinance-from-islamic-solidarity-fund-of-palestine/

MicroCapital, May 17, 2012, “Sudanese Government to Form Microfinance Council for The State of Blue Nile,” https://www.microcapital.org/microcapital-brief-sudanese-government-to-form-microfinance-council-for-the-state-of-blue-nile/

MicroCapital, March 16, 2012, “Sudan’s Northern Darfur State Forms Higher Council of Microfinance,” https://www.microcapital.org/microcapital-brief-sudans-northern-darfur-state-forms-higher-council-of-microfinance/

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