Fertilizer deals and loan scams in Sudan linked to former Bashir regime insiders

Fertilizers, petroleum products, and other commodities are at the heart of a massive loan scheme that allegedly reaped fortunes for figures connected to deposed Sudanese dictator Omar al-Bashir, according to a new investigative report released today by The Sentry, an investigative and policy team co-founded by George Clooney and John Prendergast.
The Sentry’s report, “Loan Wolves: Debt Scams Threaten Sudan’s Democratic Transition and Fragile Economy,” reveals how Badr Overseas Group, an import-export company established by Bashir’s adopted son and his business partner, secured multiple contracts to trade in essential consumer commodities at inflated prices. The Badr deals were financed using lines of credit extended to the country by the Eastern and Southern African Trade and Development Bank (TDB), a multilateral, treaty-based development financial institution with assets of over $5.6 billion.
Suliman Baldo, Senior Advisor at The Sentry, said: “Under the regime of deposed President Bashir, multiple forms of institutional corruption were allowed to thrive, ultimately devastating Sudan’s economy. The regime granted monopolies to parasitic companies linked to powerful officials and security sector corporations, enabling them to import strategic commodities at inflated prices and with generous tax breaks and customs advantages. Unless there is major institutional reform, the capture of state business for private profit will likely continue, hampering economic reform efforts by the civilian-led government. Governments and banks around the world must press for transparency and accountability in the management of Sudan’s natural resources and revenues.”