African supply chains under strain from Middle East conflict: Ramaphosa
South Africa’s President Cyril Ramaphosa said the escalating conflict in the Middle East was already straining the African continent’s supply chains and driving up energy prices.
Mr Ramaphosa made the comments on Wednesday at an African energy conference in Cape Town, which is taking place amid extreme volatility in global energy markets.
Oil and gas prices have surged following Israeli and U.S. strikes on Iran and retaliation by Tehran that forced shutdowns of oil and gas facilities across the region and disrupted shipping in the crucial Strait of Hormuz.
“Africa is already experiencing the impact of the escalating conflict in the Middle East, with strains on supply chains and higher energy prices,’’ Mr Ramaphosa told the Africa Energy Indaba conference.
“As we have seen with Russia-Ukraine and during the COVID-19 pandemic, shifting geopolitical sands underscore the vulnerabilities of import-dependent economies across Africa,” Mr Ramaphosa added.
(Reuters/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Hot news Home top
I won’t betray Nigerians’ trust; my reforms will deliver better future: Tinubu
Mr Tinubu insisted that the ongoing reforms would eventually deliver lasting national prosperity.
Economy
Stock market transacts 1.66 billion shares, gains N962 billion
The uptrend was driven by broad-based buying interest across banking, consumer goods, industrial, insurance and telecommunications stocks.
Kano
Kano govt inaugurates 2025/2026 annual school census
The commissioner presented sample census questionnaires and other data collection materials to key education agencies.
Sport
Mbappé effigy burning in Paraguay fuels fans’ racism accusations
The decision to burn an effigy of Mbappe did not sit well with many on social media, and they are claiming racism as the motive behind it.
States
Soldier killed as ISWAP terrorists attack Borno military base
The army described the July 7 attack on the base as a coordinated assault that was successfully repelled by troops.
Diaspora
Nigeria suspends O15 third-party visa services for U.S.-based applicants
The service, which did not disclose reasons for the suspension, clarified that its e-visa system remained active for prospective travellers.
