ACCRA/BLANTYRE (Reuters) – African governments have imposed sharp fuel price increases as the Iran war sends global oil prices surging and threatens to spark inflation across the continent. African countries import most of their petroleum products, leaving many highly vulnerable to supply disruptions. South Africa, one of the continent’s largest economies, on Tuesday reduced its fuel levy for...
The United Arab Emirates has in recent days canceled the residency visas of Iranians outside the country, leaving some stranded abroad, according to accounts and information received by Iran International from affected individuals. Iranian residents discovered their visas had been revoked before returning to the UAE, preventing their re-entry, several affected individuals told Iran International,...
LAGOS, Nigeria (AP) — Lagos taxi driver Adegbola Isaac went to the gas station twice last weekend. Each time, the price in the Nigerian city had climbed further and hit 1,350 naira ($0.99) per liter, a nearly 35% increase since the Iran war started. That’s wiped out most of his daily profit. “It is hitting hard,” Isaac...
Africa grapples with energy crisis as Iran war disrupts fuel supplies across multiple economies, forcing governments to implement emergency measures and explore alternative supply sources. The interconnected nature of international petroleum distribution networks means that regional conflicts can rapidly transform into worldwide supply chain crises, forcing nations to confront their energy security vulnerabilities. These dynamics...
Addis Abeba – The Ethiopian National Coffee Association has issued an urgent market alert to farmers, suppliers, and exporters, warning of mounting financial risks as global coffee prices decline and stockpiling persists across the sector. “With global coffee prices currently on a downward trend, holding onto large stocks poses a severe financial risk. Delaying sales could...
NAIROBI (Reuters) – The war in the Middle East has reduced Kenyan meat exports to the region to below 5% of the expected level during the peak Ramadan season as a sharp increase in air freight costs grounds shipments, industry officials told Reuters. The Middle East is Kenya’s main market for meat exports, with the...
By Ahmed Bashir In many markets across East and Central Africa, Somali traders dominate entire sectors—from fuel distribution and transportation to cement imports and wholesale food supply. Their shops are busy, their warehouses full, and their trucks constantly on the road. To an outside observer, it looks like a powerful model of entrepreneurial success, with...
Taxes, regulations could further destabilize Somalia By Atra Mohamed, Minnesota Reformer Since the start of Operation Metro Surge in December, the Trump administration has waged an economic battle on the Somali community, using the threat of detention — including of legal residents, citizens, as well as refugees who had their temporary protected status revoked —...
NAIROBI, Kenya — Surging oil prices triggered by the war with Iran are rippling across African economies, threatening higher fuel costs, rising inflation and renewed pressure on currencies across the continent. Africa imports most of the petroleum products it consumes, leaving many economies highly vulnerable to supply disruptions tied to tensions in the Middle East, a region central to...
DAKAR, Senegal (AP) — When Senegalese farmer Pape Fall first downloaded TikTok, it was to watch football and funny videos. In the last two years, however, he’s experimented with it to promote his produce and now sells most of it via the platform. A looped video on his TikTok profile shows a pile of cucumbers...