Sudanese authorities have begun to recover billions of dollars of real estate amassed illegally by deposed dictator Omar al-Bashir’s regime, but other assets will be difficult to seize, experts say. “Initial estimates indicate that the real estate and properties owned by the former regime … range (in value) from $3.5 to $4bn,” said Salah Manaa, a spokesperson for a committee fighting corruption and dismantling the old regime. The new anti-graft committee began work in December, and answers to a power-sharing government of civilians and generals established in August. Less than six months into its mandate, the committee is following a monumental paper trail on the former regime’s assets. The investigators have so far recovered hotels, farms, shopping centres, agricultural lands and other properties in Khartoum and other cities from the former leader’s relatives and aides. Manaa said international experts would be brought in to help assess the assets’ value — a task that has not yet moved beyond rough estimates — before transferring their ownership to the finance ministry.
SOURCE: BUSINESS DAY LIVE
More Stories
Las Vegas Resident’s Three-week Adventure through Egypt
Tunisia Needs “Deep Reforms” Such as Drastically Reducing its Vast Public Wage Bill
Credit Unions in Africa Switch to Fintech
Ghana’s Low Tax-to-GDP Ratio Makes it Hard to Finance its Developmental Agenda
Truck Delays at the Border Wreak Havoc for Uganda’s Fuel Users
Airlines Operating on the Continent Face Particular Challenges
The Inclusion of Rwanda as a Potential Relocation Destination for Migrants Raises Eyebrows
Sudanese Demand Return to Civilian Rule in Deadly Riots
Abuja Shows Off Impressive Rice Yield in Bid to Stop Rice Imports
Bain & Company Leaves South African Business Board
Economic Perks of Growing Cycling Culture in North Africa
The Bank of Uganda Lowers Limits on the Value of Cheque Payments to Promote e-payments