The Middle East war “poses a serious threat to Africa”, the African Union and the African Development Bank (AfDB) said in a report seen by AFP on Saturday.
The report warns that the conflict threatens to increase the cost of living and reduce development on the continent.
middle east is 15.8 percent AfricaThe report states that its imports and exports are 10.9 percent.
“The conflict, which has already dealt a blow to trade, could turn into a subsistence crisis across Africa due to high prices of fuel and food, rising shipping and insurance costs, exchange rate pressures and tight financial conditions,” it said.
It said that the growth rate of most African countries remains slower than before the Covid pandemic.
“If it (the conflict) lasts more than six months, it is projected to result in a loss of output growth of 0.2 percentage points to Africa's GDP for 2026,” it said.
“The longer the conflict lasts and the more serious the disruption to shipping routes and energy and fertilizer supplies, the greater the risk of a significant growth slowdown across the continent.”
Liquefied natural gas (LNG) deliveries reduced by bay It said fertilizer production would be impacted, limiting its availability during the critical planting period until May.
Spotlight on Africa: Africa faces security concerns as Iran conflict spreads
currencies affected
The report was compiled by the United Nations Development Program (UNDP) and the United Nations Economic Commission for Africa (UNECA).
According to recent data from the African Development Bank (AFDB), the currencies of 29 African countries have already weakened, increasing the cost of servicing foreign debts, making imports more expensive and depleting foreign exchange reserves.
Some countries may see some short-term benefits, e.g. Nigeria For its oil exports or Mozambique for its LNG.
Mozambican ports could benefit from rerouting ships around the Cape of Good Hope, South AfricaNamibia and Mauritius.
kenya is establishing itself as a logistics hub in East Africa, while Ethiopian Airlines, the leading carrier in Africa, is serving as an “emergency air bridge” between the continent. AsiaAnd EuropeThe report said.
But these gains are likely to be uneven and will not offset the consequences for inflation, budgets and food security in Africa, he warned.
On top of that, the current crisis could impact the cost of humanitarian aid and divert donor funds toward other priorities.
(AFP)