The Central Bank of Sudan (CBOS) reportedly announced that for two years it will pay the salaries of up to 1,000 new graduates entering employment in the microfinance sector. CBOS will also pay for six months of “in-kind training in the field” and “technical feasibility studies on small-scale projects.” Applicants are expected to have a business-related degree and no employment history. The initiative aims to expand microfinance services and increase the use of microfinance and commercial banks [1].
As of 2010, the one microfinance institution that has submitted data to the US-based nonprofit Microfinance Information Exchange (MIX) is the Port Sudan Association for Small Enterprise Development (PASED), which has 3,969 active borrowers, total assets of USD 1.7 million, a gross loan portfolio of USD 900,100, a return on assets (ROA) of 1.48 percent and a return on equity (ROE) of 1.57 percent.
By Brendan Millan, Research Associate
About the Central Bank of Sudan (CBOS): CBOS was formed in 1960, four years after Sudan achieved independence. Located in Khartoum, its functions include regulating the issuance of currency, formulating and directing monetary and finance policies to serve various economic sectors and building a banking system that meets the development needs of the country.
About the Port Sudan Association for Small Enterprise Development (PASED): Established in 2001, PASED is headquartered in Port Sudan, Sudan. PASED offers loans and voluntary savings products. As of December 31, 2010, it reported to US-based nonprofit Microfinance Information Exchange (MIX) 3,969 active borrowers, a gross loan portfolio of USD 900,100, total assets of USD 1.7 million, return on assets (ROA) of 1.48 percent and return on equity (ROE) of 1.57 percent.
Sources and Resources:
[1] SudanVision: “Central Bank Pledges to Pay Two Years’ Salaries for Graduates Employed by Banks to Work at Branches in Microfinance” by Haffiya Elyas. http://news.sudanvisiondaily.com/details.html?rsnpid=206828
MicroCapital.org Article, February 20, 2012, “Microfinance Council Established in SudaneseStateof Khartoum”, https://www.microcapital.org/microcapital-brief-microfinance-council-established-in-sudanese-state-of-khartoum/
MicroCapital.org Article, November 15, 2011, “Government of North Darfur Allots $10m for Agriculture Microfinance in Sudan”, https://www.microcapital.org/microcapital-brief-government-of-north-darfur-allots-10m-for-agriculture-microfinance-in-sudan/
MicroCapital.org Article, October 3, 2011, “Insurance Industry in Sudanto Guarantee Loans for Microfinance Projects”, https://www.microcapital.org/microcapital-brief-insurance-industry-in-sudan-to-guarantee-loans-for-microfinance-projects/
MicroCapital Universe Profile: The Central Bank of Sudan (CBOS), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Central+Bank+of+Sudan+%28CBOS%29
MicroCapital Universe Profile: Sudan Association for Small Enterprise Development (PASED), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Port+Sudan+Association+for+Small+Enterprise+Development+%28PASED%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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