MIDDLE EAST CONFLICT COULD HURT AFRICAN ECONOMIES –Prez Mahama
President warns rising oil prices and shipping disruptions may trigger economic shocks across the continent
President John Dramani Mahama has cautioned that escalating hostilities involving the United States, Israel and Iran could have serious economic repercussions for African countries.
Speaking during a bilateral meeting with Tanzanian President Samia Suluhu Hassan at the State House in Arusha on March 2, 2026, President Mahama described the Middle East as the “epicentre of global oil supplies” and warned that African economies must prepare for potential shocks arising from the conflict.
He expressed concern over the intensifying exchanges between the U.S., Israel and Iran, as well as reported counter-attacks affecting parts of the Gulf region.
According to President Mahama, rising crude oil prices triggered by the tensions would directly affect African nations, many of which depend heavily on imported petroleum products.
“When instability occurs in a region that is central to global oil production and supply, the ripple effects are felt far beyond that region,” he indicated, stressing that Africa is particularly vulnerable to external energy shocks.
The current escalation follows months of heightened tensions between Israel and Iran, largely centred on Iran’s nuclear programme and its alleged support for armed groups in the region.
The United States, a longstanding ally of Israel, has supported Israeli security operations and strengthened its military presence in the Gulf, citing concerns over regional stability and threats to international shipping routes.
Iran has accused both Israel and the United States of aggression and has responded with missile and drone operations targeting strategic interests in the region.
The situation has raised fears of a broader regional conflict, particularly around the Strait of Hormuz a vital shipping corridor through which a significant portion of the world’s oil supply passes.
Global crude oil prices have already shown upward movement amid the uncertainty. Analysts warn that any prolonged disruption to oil production or shipping routes could further strain energy-importing countries, including many in Africa, potentially leading to higher fuel costs, inflationary pressures and slower economic growth.
President Mahama’s remarks underscore growing concerns among African leaders about the continent’s exposure to global geopolitical tensions and the urgent need to strengthen economic resilience.
Source:NKONKONSA.com
