Bank of Khartoum Launches Sudan’s Inaugural Green Sukuk Worth SDG 4.75 Billion for Renewable Energy 

Sanabel, a subsidiary of Bank of Khartoum, has launched a SDG 4.75 billion (USD 11.3 million) green Sukuk on the 31st of May 2021, aimed at financing renewable energy for commercial use. The investment fund, which was launched in partnership with Nahda Company for Sustainable Development and the Arab-African Company, will be divided into Sukuk worth SDG 500 each.

Why it Matters?

According to media reports, the investment fund marks Sudan’s inaugural green Sukuk, and aims to finance the production of 55 megawatt hours per day of renewable energy for industries such as agriculture and mining. Over 60% of Sudan’s population lacks access to electricity, with insufficient production to cover current consumption according to United Nations est...