In the context of the Organization of the Islamic Conference summit in Dakar, in March 2008, billions of Arab petrodollars have poured into Senegal to help realize its ambition to become the “Gateway to Africa”. However, boosting the country’s infrastructure may not be sufficient, as long as major obstacles such as the country’s energy crisis, are not tackled simultaneously.

Situated on the western-most tip of Africa, Senegal is a predominantly Muslim country, although its Sufi-inspired conception of Islam can hardly be compared to what is practiced in most of mainstream Arabia. Still, the 11th summit of the Organization of the Islamic Conference (OIC) is set to take place on March 8-14 in the country’s capital Dakar.

Founded in 1969, the Organization of the Islamic Conference (OIC) represents 57 member states on four continents, which makes it the world’s second largest inter-governmental organization after the United Nations. Its role on the world stage is largely symbolic, yet for the hosting nation it is an ideal platform to put itself in the limelight and attract foreign investment. Senegal has done just that, and is likely to continue to do so as its president, Abdoulaye Wade, over the next three years will travel the world as temporary head of the OIC.

In sharp contrast to decades of semi-socialist rule, President Wade, nicknamed “the builder,” increasingly attempts to liberalize the economy. His dream is to make Senegal a trade and transport hub, as well as the natural gateway to Africa, primarily by boosting the country’s infrastructure. BOT-contracts and private-public partnerships (PPP) appear to be the tools of choice.

Aided by a number of Arab governments and financial institutions, Senegal’s National Agency for the Organization of the Islamic Conference (ANOCI) had a budget of some $750 million to be able to welcome the some 5,000 expected conference delegates in style. Thus, to improve circulation within the Greater Dakar area, ANOCI supervised the construction and rehabilitation of some 40 km of roads, while five luxury hotels and the King Fahd Conference Center have been either renovated, or built from scratch.

Tripling tourism figures

According to Karim Wade, ANOCI head and son of the president, the increase in hotel capacity “not only responds to the immediate needs of the Islamic Conference, but will help Senegal become one of the main tourist destinations in Africa.” In 2007, already some 500,000 tourists visited the country’s beaches, yet the government hopes to triple that figure by 2010.

However, despite all good intentions, in early 2008 it seemed hardly likely that roads and hotels will be completed before the start of the IOC summit. Consequently, with all but 2,500 hotel rooms available in Dakar, ANOCI decided to rent all available hotel rooms between the outlying town of Bakar and the tourist resort Saly, while two cruise ships were chartered to provide extra lodging off-shore.

In any case, Arab investors seem to have discovered the West African beltway, as investments related to the OIC summit are but the tip of the iceberg in terms of petrodollars traveling westward. On April 4, 2007, construction commenced of a new international airport at Diass, a city some 45 kilometer south of Dakar. Built by the Saudi BinLadin Group, the $500 million airport will have a capacity of 3 million travelers and a 3,500-meter long runway that is capable of handling the world’s largest airplanes, including the Airbus A380. Named after a political hero from the past, the Blaise Diagne International Airport (BDIA) is due to be completed by 2010.

According to Modou Khaya, BDIA managing director, there are several sound reasons for the massive investment. “The current international airport of Dakar is heavily congested, and suffers from a lack of comfort and parking space,” Khaya said. As a result of an annual increase of some 5% to 10% in passenger traffic, in 2007 Dakar airport welcomed some 1.8 million people, while it originally had been laid out for only 600,000.

Once located at the empty northern tip of the Dakar peninsula, the current Dakar International Airport today finds itself surrounded by the rapidly expanding suburbs of the Senegalese capital, causing not only problems in terms of access. According to Khaya, the existing airport could only be expanded by extending one of the runways into the sea, which proved far more costly than building a whole new airport.

“Relocating the airport south of the capital will help decongest the capital and offer better access to the tourist area of Mbour and the Diamnado special economic zone,” Khaya added. “It will also allow for the some 800 hectare of territory it currently occupies to be developed into the capital’s leading commercial district.”

The first technical studies for Dakar’s future business district have been completed, but so far it remains on the drawing board. The Diamnado Integrated Special Economic Zone (DISEZ) however, is to become reality, as the Senegalese government on December 15, 2007, signed a contract with Jafza International, a subsidiary of Dubai Holding. Situated some 20 km south of Dakar, DISEZ will occupy a total surface area of 10,000 hectares to offer an investor-friendly, low-tax zone to attract foreign investors.

With a focus on industry and logistics, DISEZ will host up to 1,000 companies and is hoped to create 130,000 direct and indirect jobs over the next two decades. It should be noted, however, that the project is to be built in four phases, the first of which will be completed by 2012. If, for whatever reason, the first or second phase does not produce the hoped for success, further construction will likely be halted.

DISEZ is not Dubai Holding’s only project in the region. Having already invested billions in Tunisia and Morocco, the Emirati giant seems to have discovered life beyond Gibraltar’s “Pillars of Hercules” and firmly set foot in West Africa. On October 8, 2007, another of its subsidiaries, global port operator DP World, signed a 25-year concession to develop and operate the container terminal at Dakar Port and construct, and develop a second terminal. DP World pledged to invest over $700 million between 2008 and 2011.

Constructing the “Port du Futur”

In a first phase of development, $163 million will be spent to modernize the infrastructure of the existing port. Construction is to start in 2008 and will be completed by 2010. The aim is to double the terminal’s capacity from some 375,000 containers in 2006 to around 550,000 by 2010. In a second phase, DP World intends to construct and manage a whole new container terminal known as the “Port du Futur”. With a price tag of some $476 million, this future port is expected to become operational in early 2011, and with a depth of 15.5 meters it will able to handle the latest generation of container carriers.

To many observers, it came quite as a surprise that newcomer DP World had managed to beat, among other rivals, CMA-CGM. The French operator had been present in Senegal for over 75 years and the country, a former French colony, still nurtures strong economic ties with France. The unexpected decision illustrates to what extent DP World, the world’s 4th largest port operator, has become a force to reckon with, as well as the fact that Senegal, in its drive to attract foreign investments, is arguably switching hats: from the French to the Muslim gateway of Africa.

However, in spite of the billions of dollars invested in a new airport, port, special economic zone, roads and hotels, it yet remains to be seen if investments will pay off. Of course, Senegal has its advantages. It is relatively safe and secure, and has enough to offer in terms of tourism. Regarding logistics, it is the most western point of Africa and in that sense could be seen as a natural gateway.

However, the world’s main trade routes are located in the northern hemisphere, between Asia, Europe and the US. Therefore, one wonders where the projected increase in trade for Dakar port is to come from. Brazil? Argentina? What’s more, with an average annual income of some $1,700, Senegal itself offers a limited market. And the same is true for the neighboring countries Mali and Burkina Faso.

Most importantly however, infrastructure consists of more than building ports, roads and hotels. For investors to flock to Senegal there will have to some sort of energy security. Yet the country has no major hydrocarbon reserves to speak of and consequently, in the wake of the international oil price hike it witnessed an energy crisis without precedent. In a way, Senegal is the archetypical example of the devastating consequences of the current oil prices for the developing world.

Between 2000 and 2006, the country’s fuel imports increased from some $400 million to $762 million, the equivalent of 40% of its export revenues. Secondly, the country’s only refinery and handful of power plants suffer from a desperate lack of investment. Due to the rise in oil prices, the national refinery was forced to close down for nine months in 2006, following an acute cash crisis. Help may be on the way, however, as Senegal has signed a memorandum of understanding with the Iranian Petroleum Company to invest in the country’s refining capacities

Meanwhile, while only 16% of the countryside has electricity, Dakar and other cities face regular power cuts, as the national electricity company, Senelec, too faces a major cash deficit “The main problem is that for decades no investments have been made,” said Ibrahim Thiam, chairman of the Electricity Sector Regulation Commission (ESRC). “As a result, Senelec faces a lack of capacity and an outdated infrastructure. In addition, the plants operate on expensive imported fuels.”

Senegal’s power plants operate on an energy efficiency rate of 30%, which means that 70% of every liter of fuel oil goes up in smoke. For years, the World Bank has called upon the Senegalese government to privatize the electricity sector, yet largely due to the outdated equipment, so far no (Islamic) investors have presented themselves.

And thus, at the start of the OIC in Dakar in March, Senegal finds itself between hope and fear. On the one hand, a glorious future lies ahead, symbolized by a state-of-the-art airport, port and free trade zone. On the other hand, the country sits on an energy bomb, which may one day blow away all dreams and ambitions. For let us not forget what a dissatisfied population can do. When President Wade, with an eye on the OIC, ordered that street sellers were no longer allowed in Dakar, the population answered with such a massive demonstration that he was forced to reverse his decision. Some things never change, they say.

Talaat Captan is not exactly the typical Hollywood producer. He started his career as a domestic and international distributor of motion pictures, moving into the rarified airs of movie production. His films have ranged from science fiction (Prototype) to psychological thrillers (Living in Peril) and action (Ground Control). Captan has also mastered the technical side of movie production as owner of companies such as Air Hollywood, Apex Stocks and Prime Pictures

E How did you get into the movie industry?

I left Lebanon for the United States 30 years ago. After graduating from business school, I worked in a company that specialized in production as well as distribution of movies. I then made the leap to the field of international movie production and licensing. The movie industry is an extremely challenging one. I did not want to work in the studio system where politics reign and preferred to achieve my objectives on my own, by launching my own production house. I also served as a director on the board of the American Film Association (AFMA) for four years, but I lost my seat on the board after 9/11, when things started to become very difficult for Arabs working in the American film industry.

E You also own Air Hollywood, how does this particular activity complement your other operations?

While producing the movie Ground Control with Kiefer Sutherland — which looks into the world of air traffic controllers — I identified the industry need for proper airplane mock-up studios, which prompted my decision to open Air Hollywood. The company features four aviation-themed stages, seven planes and a fully dedicated prop rental and fabrication house. Air Hollywood attracts major Hollywood studios as well as production companies working on films, television programs or commercials. Sets can be booked for $14,000 per day, with average rental periods varying between two to three days. However, some productions have used our sets for more than three months. Certain scenes of Lost have been shot in our studios.

All my companies are related to the entertainment industry. As an example Apex Stock is a stock footage company that provides users with scenes of airplane landing or take off, horses running wild, or Paris in the 1950s that can be used in movies. We also own the TWA 65mm library, which is a great asset in the movie industry. Apex has partnerships with big industry names, such as Getty images and National Geographic, among others.

E With two companies in the US, what brought you to the Middle East?

I am a co-founder of Prime Pictures, a company that specializes in theatrical and home entertainment distribution for a variety of studios such as Paramount, Dreamworks, and Hallmark among others. We also own a number of theatrical screens in the Middle East, with Cinema City in Beirut as part of our landmark projects. In addition, we are opening another mega theater complex in Jordan as well as one in Dubai, in the new Merdef area. We strive to achieve excellence in the theater industry, this can only be attained by providing audiences with the right theater atmosphere as well as a unique viewing experience. The Middle East is a market that is growing steadily. I would like to contribute to the regional industry by producing movies filmed in this part of the world. I have also two movie projects lined up for now, however I am still not at liberty to disclose any information.

E Are producers predominantly brought into a movie or do they seek projects?

It is a bit of both. In the United States, things are much easier because you can depend on the Writers Guild: authors either come up with a story or are asked to write a “treatment” for producers. If the treatment is approved by producers, it will be turned into a script. In the Arab region, the process is much more difficult, as the environment is less structured. Many Arab scriptwriters also find inspiration in other movies, without trying to rely on their talent.

E What management qualities are most important for movie producers?

A producer is the person who holds the whole movie together and handles more particularly its financial aspect. I am familiar with both sides of the movie business, namely production and distribution. A producer has to constantly keep in mind the marketable features of a movie and if, and how, it will appeal to audiences around the world. He needs to consider the movie’s performance in the main markets, foremost the Unites Sates, Germany, and Japan, so forth and be a few steps ahead of everyone. Approaches also vary among different movie genres. As an example, horror pictures might be easy to produce but will eliminate a certain category of audience, due to their nature. Comedy is the hardest type of movie to produce, because it very difficult to make Americans, Japanese and French laugh at the same joke. In terms of production, the US always represents 50% of a movie’s budget, as it usually generates a large proportion of a film’s revenues. As a rule, it is very difficult to produce a movie for less than $10 million, because it will be only viewed in a handful of theaters in the United States.

E How do you perceive the Arab cinema industry?

The Arab movie industry still lags behind other countries. One look at international movie festivals will reveal the relatively low participation of Arab productions. In comparison, Iranian movies are faring much better than Arab productions and are regularly featured in festivals around the world. I personally loved the Lebanese movie Caramel, which was full of talent. The region is in need of such movies. I have also noticed during my frequent trips around the world that Arabic movies are never shown on international TV channels. Arabic producers need to start working on international movies that can be released in English, which will add to their marketability.

E What changes do Arab countries need to introduce to further develop their movie industry?

Censorship is an essential issue that needs to be addressed around the region. Scripts have to be submitted to governing bodies in order to obtain authorizations for filming. In other countries, movie scripts will only be submitted against a government’s financial contribution to the film. The industry is also plagued by low budgets, which amount very often to less than $1 million, which is ridiculously low. However, large budgets do not necessarily guarantee a film’s success, because it also depends on proper budget management. Governments need to encourage movie funding and try to attract trustworthy producers by either offering tax cuts, facilitating the work environment or offering more affordable accommodation.

E What countries in the Middle East do you believe have the most potential in terms of movie production?

Lebanon offers great opportunities but its movie industry is hindered by its unstable situation. Libya is one country in the region that has not been filmed for more than 30 years! It is time to feature its beautiful landscapes in movies around the world.

E What can be the role of Arab movie producers on the international level?

They can promote a positive image of the Middle East. In the United States people can’t differentiate between Arabs, whether they are Iraqi, Lebanese or Palestinians. Arabs are many cultures within one. Movies can help educate people and change their perceptions.

E Where do you see the movie industry in a few years?

Technology is growing at an incredible rate. In a few years, people will be able to view more than 500 movies by using a small box. I think advances in special effects will significantly affect the film industry and movie making will become less and less time consuming.

Away from the media blitz, the glam and the blinding spotlights inherent to Hollywood, Arab movie production has embarked on its own journey through the seventh art. Talent is everywhere, emerging in the far corners of the Arab world. Executive sheds new light on the region’s industry.

The movie and TV-series production industry in the Arab world is still not sufficiently developed as most features are still imported from the West, said Hani Tamba, director of After Shave (Beyrouth après rasage) and soon-to-be-released Melodrama Habibi. “Unfortunately, it seems that much of Arab energy and funds are poured into the production of video clips instead of films.”

Egypt remains the largest producer of movie and television series, with most other regional countries far behind. Up to 80% of Arab production originates on the Nile. But change is afoot. Recently, a number of Lebanese have gone into producing or co-producing feature films, even if others keep focusing on producing TV commercials and video clips because of their large price tags, with Lebanese productions ranking among the best, according to Tamba.

For the love of the industry

The movie industry exhibits a two-dimensional typology, according to Sabine Sidawi, Lebanese producer of Taxi Service, ZoZo and Yanousak. On one end of the spectrum there are the  large productions such as those shot in Hollywood, Bollywood and Egypt, and on the other end movies shot by independent producers. “Lebanon falls in the latter category which boasts very artistic movies, but lack adequate funding. Many directors, producers or technicians are not in the movie business in Lebanon for the money, but simply for their love of the industry,” she reckons.

The average cost of a movie is difficult to assess as prices vary from one project to the other. Tamba explained that most Lebanese films have relatively modest budgets with directors often producing their movies independently, while a lucky few are able to co-produce with foreign funds. “It is difficult to provide a precise figure, but some movies have been priced well under a $1 million.”

Mario G. Haddad, chairman of Les Fils de Georges Haddad & Co., owner of Empire Cinemas and president of Empire International, exclusive distributors of Colombia, 20th Century Fox and MGM in the Levant and the Gulf countries, estimates movie budgets in Egypt to fluctuate between $1-2 million, with some going up to $5-8 million. “Egypt is certainly a giant in terms of movie production and market size, when compared to other Arab countries,” he explained. Of course, the country’s sheer size is by itself a massive advantage, as movies appeal to a wide audience. In terms of viewing, Egypt and the Gulf countries, where movie theaters are one of the prime places of entertainment, are the biggest markets, with around 7 million entry tickets sold every year in the UAE alone.

For Sidawi, governments play a major role in promoting their national movie industry and liberalizing regulations, reducing red tape and lowering taxation on the film industry. As this will encourage a new breed of producer, as has been  the case in countries such as Tunisia and Morocco. “The king of Morocco is helping support the movie industry. He has recently established a new movie studio and post-production centers, as well as handing out around $300,000 to jumpstart any film project,” underlined the producer who believes such measures will lead to the creation of an independent Moroccan movie industry in a few years.

Similar measures have also been undertaken by the king of Jordan. According to Sawsan Darwazi, managing partner of Jordanian production house Pioneer, the country’s movie industry is still at a nascent stage. Significant improvements have been achieved with the creation of the Royal Film Commission, which sponsors the film industry. As she pointed out, “Recently, two universities started to offer communication art and media courses, which, in a few years, will undoubtedly help promote a new breed of producers, directors and technicians.”

Finding the financial backing

However, the Jordanian producer admits that the movie industry is yet to fully blossom, as most productions are either comprised of drama series or made-for-TV films. “The only recent big Jordanian production is Captain Abou Raed, which was financed by private individuals who pooled their funds.”

Different techniques also play into movie production. Sidawi underlines that movies are usually shot using 35 or 60mm films, or using video footage which is later transferred on film. The different stages in film production — script writing, development, preparation for the movie by selecting actors and music, shooting the film — can only take place after producers have secured financial backing for their movie. In Lebanon shooting may take up to 6 to 8 weeks, whereas this phase is extended to a few months in the US as big production houses can better handle added costs. Post-production — editing, mixing and integrating special effects to the film — requires and additional four to six months, followed by the actual movie distribution.  At this particular stage the lack of funding often compels producers to trade exclusive rights to their movie against TV ads. But as Sidawi points out, “Such agreements grant TV stations exclusive rights to movies, which are not necessarily shown. This practice ties the hands of producers who will have to wait for the exclusive contract to come to end in order to show their movie.”

In such a difficult work environment, combined Arab-foreign productions are not just popular, but rather inevitable, as Arab funding is scarce, explains Tamba. In Jordan, many movies are co-produced with either European or Gulf countries, especially TV films or series. Sidawi estimates that the lack of funds and the need to co-produce with a foreign country may steer movie production away from its original path and into a direction that is not naturally its own. “For instance, European producers will integrate their own perception of a country into a movie, one that is not necessarily favored by their Arab co-producer.  This affects the type of movie we end up producing,” she said. Hani Tamba looks at collaborations with a more positive eye, believing that European co-producers often add a fresh perspective to a project as well as a different know-how. “Co-production is a matter of finding the right alchemy between two countries,” he declared. In Egypt, as Haddad pointed out, the issue of co-production is less tricky as most producers operate independently and do not need to rely on foreign countries to finance their movies.

Empire International’s president emphasized that one main challenge faced by movie producers in the region is crossing the cultural boundaries between countries, saying “As an example, Lebanese movie producers are confronted with two main problems: language or dialect in which the movie will be filmed and its scope. The Lebanese movie Ghnoujet Baya generated around 200,000 admissions locally but very little outside of Lebanon, as it reflects our local specific culture.” On the other hand, movies such as Nadine Labaki’s Caramel have fared very well in Europe, where in France alone it generated around 500,000 to 700,000 admissions. But despite its international success it did not stir much interest in the UAE.

Haddad believes that over the next few years, movie production will face new challenges with the rapid evolution of technology allowing for movie downloads from the internet and facilitating pirating, which indirectly led to the Hollywood writers strike over compensation for content distributed online. The lack of proper viewing has also affected the sector although many changes have been introduced in recent years with the emergence of massive Cineplex in various Arab countries. In the end, the cinema owner knows that both go together. “Movie viewing and production are intertwined: the first acts as a powerful locomotive for the second and contributes in developing a real movie culture.”

The change happened slowly, over a period of months. Day by day, the stock of green-back American dollars in Sudan’s central bank has decreased. And day by day, the bank’s stock of multi-colored Euros increased. By the opening weeks of 2008, the Bank of Sudan had deliberately and determinedly set a course for a dollar-free economy by switching almost all of its foreign currency reserves into euros and a basket of other currencies. It was the latest and most dramatic manifestation of a growing economic separation between Africa’s largest country and the world’s largest superpower — a split caused by more than ten years of economic sanctions imposed by the US onto Sudan over reports of humanitarian atrocities, first during the country’s north-south civil war, and later during the Darfur conflict.

Euros fill the gap

At first glance, the American exit might look like an economic disaster – particularly since a number of European companies have also shown signs of limiting their involvement in Sudan, citing the risk of getting caught up in American sanctions.

But as every student of economics knows, international trade abhors a vacuum. When one major trading partner leaves the stage, another is bound to be waiting to take its place. In the currency markets, the gap left by the dollar was filled by the euro. In the commercial, financial and investment sectors, say analysts in Sudan, the gap left by American and increasingly European investors and companies is being more than made up for by companies based in China and, increasingly, the Middle East. “Investors are coming in from both China and the Middle East,” said one Khartoum analyst speaking on condition of anonymity. “Part of it is to do with the new flood of oil and part to do with the relative security that followed the end of the civil war in 2005.” But at least part of it is that they are coming in to take up the slack left by the West.” The trend is clear to see in the financial indicators published by the Bank of Sudan. In 2005, $299.2 million worth of Sudanese exports headed out to Saudi Arabia, Yemen, Libya, the United Arab Emirates, Jordan, Syria, Iraq and other states labeled as “Arab countries” by the bank’s statisticians. Just a year later, the figure had jumped to $444.2 million. And in the first three quarters of 2007 — the most up-to-date statistics available — $305.2 million worth of Sudanese exports had already headed out of the country’s ports and airports towards the Middle East.

Exports are only one small indicator. At the same time as a number of Western companies announced they were leaving sanction-hit Sudan  — including Rolls Royce, Hilton Hotels, Germany’s Siemens, Switzerland’s ABB and Canada’s CHC Helicopter — a host of Middle Eastern names have been arriving or boosting their existing involvement. Sudan was one of Africa’s top four recipients of Foreign Direct Investment in 2006, according to the UN’s World Investment Report of 2007. The country pulled in more than $3 billion, mainly through its telecoms and petroleum industries and the privatization of state-run companies, hardly any of it from the West. Again, large chunks of that foreign direct investment came directly from the Middle East.

The GCC steps in

The increased Middle Eastern involvement is obvious practically everywhere you look in Khartoum, the country’s economic powerhouse. The most obvious arrivals – thanks largely to their overwhelming marketing budgets – are the mobile telecoms giants of Kuwait-based Zain, which bought the then state-owned operator Mobitel, and Canar, an arm of the UAE’s Etisalat. But beyond the phone system, barely a week goes by without an announcement of another investment and another arrival. In February, the Kuwait Fund for Arab Economic Development said it was going to loan Sudan $59 million for a major dam and hydropower project on the River Nile — its second major investment in the scheme. Sudan’s delighted Minister of State for Transport, Roads and Bridges, Dr. Mabrouk Mubarak Saleem, said the cash injection was only the beginning when it came to Kuwaiti investment in Sudan.

A Kuwait Fund envoy is about to fly in to inspect a range of other potential road and transport projects. This is after the Sudanese minister for Transport and Roads made a visit to Kuwait in which he received audiences from, among others, the emir and ministers from Foreign Affairs, Finance and Electricity. US sanctions enforcers have noticed a strange pattern emerging after they started adding named state-owned companies to their list of black-listed Sudanese enterprises. “Immediately after the sanctions were announced, the Sudanese government took steps to sell off government assets that we had identified,” said Adam J. Szubin, head of the US Treasury’s Office of Foreign Assets Control (OFAC). Sudan was clearly trying to get targeted companies out of state control and as far away as possible from sanctions, Szubin added. And the people to whom Sudan tended to sell those state-owned assets came predominantly from the Middle East. In December, media reports suggested that the Dubai Islamic Bank unit, of the Bank of Khartoum, planned to buy smaller Sudanese rival Emirates and Sudan Bank. A month later, Sudan’s national bank told the Sudan Tribune that it might have to sell its 10% stake in the new merged company to make sure the new corporation was not targeted by the US.

In January 2007, Bahrain’s Al-Salam Bank said it had succeeded in snapping up a controlling stake in Sudan state-owned El-Nilein Industrial Development Bank, one of almost 100 companies specifically blacklisted by the U.S. Months before that Dubai-based Emaar Properties and Amlak Finance had also claimed they were after El Nilen shares. Whether or not OFAC was right in saying the sanctions had pushed Sudan into selling the stake, the sanctions certainly hadn’t made the sale any less attractive, said Shawgi Azmi, then director of the Sudanese National Company for Securities, a unit of government-owned Bank of Khartoum. “This deal proves that Gulf investments in Sudan are still pouring in despite the political situation and the pressure from the international community on the country,” he told reporters.