The World Bank has cautioned that political instability and violence together with disruptions in global trade, especially in the Middle East, might intensify food insecurity challenges in Nigeria and other countries in the Sub-Saharan Africa region. The disclosure was made known in the Global Economic Prospect report, where the World Bank offered insights into its economic outlook for 2024. According to the report, “An escalation of the conflict in the Middle East could exacerbate the situation in Nigeria and other Sub-Saharan African countries in terms of food insecurity. A conflict-induced sustained oil price spike would not only raise food prices by increasing production and transportation costs but could also disrupt supply chains, leading to less affordable food and an uptick in malnutrition rates in the region. Read more: https://lnkd.in/eupVgdNY
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In light of the recent World Bank report on food inflation in Africa, highlighted by Business Insider Africa, addressing this critical issue is paramount for the continent's economic stability. Afrique Monitor International is at the forefront of showcasing Africa's potential and forging global connections. We are committed to leveraging such critical insights to promote international collaborations and sustainable growth throughout Africa. For a deeper understanding, you can read the full article [here](https://lnkd.in/eFt2t2ej).
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The World Bank has warned that an increase in conflict in the Middle East could potentially worsen the food insecurity in Nigeria and other countries in the Sub-Saharan Africa region. The bank noted this in its Global Economic Prospect report where it projected an outlook for the world’s economy in 2024. According to the bank, political instability and violence together with disruptions in global trade especially in the Middle East portends huge risk for the region with regards to food insecurity. The report noted that an oil price increase as a result of conflict would lead to increased transport and logistics costs which could disrupt supply chains and worsen the already high food inflation witnessed in Nigeria and other countries in the region. It states👉“An escalation of the conflict in the Middle East could acerbate the situation in SSA in terms of food insecurity” Read more https://lnkd.in/daeWeakh Follow Nairametrics for more news update #nairametrics #news #worldbank #insecurity #nigeria #conflict
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Throwback: AKADEMIYA2063 COVID19 Brief #008: Impact of Trade Shocks on Growth and Poverty in Senegal. This brief assesses growth and poverty effects of disruption in primary commodity markets in Senegal. The analysis focuses exclusively on the impact of the disruption in global commodity trade, that is, changes in global prices and market. Learn more👉https://shorturl.at/jyD27
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Throwback: AKADEMIYA2063 COVID-19 Brief #008: Impact of Trade Shocks on Growth and Poverty in Senegal. This brief assesses the growth and poverty effects of disruption in primary commodity markets in Senegal. The analysis focuses exclusively on the impact of the disruption in global commodity trade, that is, changes in global prices and market. Learn more👉 https://lnkd.in/eTUm3W6w
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Macroeconomist|Researcher|Consultant|Economic policy expert|M&E expert
Supply-side constraints have greatly affected sub-Saharan African economies. The constraints include rising food prices, reliance on energy imports, and exchange rate passthrough due to the strengthening of the US dollar. Countries need to, therefore, implement prudent fiscal and monetary policies in order to reverse the negative effects of the shocks.
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🌍 Navigating geopolitical tides: Africa’s path to trade resilience and growth Despite the highly volatile and challenging global operating environment, African economies have shown remarkable resilience, recording output expansion of 3.2%, down from the 4% posted in 2022 and lower than the historical average of about 5% growth witnessed during the period 2011-2019 – but nevertheless recording one of the strongest output growths globally. However, most African countries continued to grapple with high inflationary pressures, debt accumulation, as well as climate change and other extreme weather events. The impact of weather shocks on Ghana’s cocoa output, preventing growers from taking advantage of rising global cocoa prices, was well articulated in a report by Afreximbank. These extreme weather events have intensified conversations around climate change. Equally topical is the AfCFTA and its role in expediting the growth and development of the African region. Read the full news 📌 https://lnkd.in/gptCiTyJ #EHSafrica #Logisitics #EHS #SupplyChain #WeLoveAfrica #AfricaLogistics #supplychain #logisticsolutions
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Listen to some of the insights from our CIO, Patrice Rassou, as he talks to SABC News #OnPoint, marrying some positive news out of China, with South Africa and commodities. A lot of optimism driving current sentiment. He also covers the oil price concerns leading to inflation off the back of escalated conflict. He ends with the impact on each of our disposable incomes off the back of the cost of living and the spike of food prices. #marketsupdate
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UK has signed a new trade pact with Nigeria! Keep up with the latest in the world of business with our fresh commentary. Our latest episode covers everything from markets to macroeconomic data releases, earnings announcements, and more. Learn about yesterday's sell-off in US markets, the latest from OPEC monthly report, and UK January inflation steady at 4.0%, among other stories. Stay informed with valuable insights that can impact your business decisions. #UK #Nigeria #BusinessNews #TradePact #EconomicUpdates #bizinsights
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Business Executive • Commercial Leader • Economist: ¬Brand Marketing ¬Advertising ¬Experiential Sales ¬Communications ¬Growth Driver
#BEYONDFOREX How are industries impacted by these socio-economic quagmire in the flippant tides of foreign exchange? What sectoral path is your business navigating to stay above the murky waters of P&L? Any hope in sight...? Financial values depreciating with+1500 over 2-year isn't smiling. Nation on the edge of precipice! KEY POINTS ✓With inflation nearing 30% and its currency hitting an all-time low, Nigeria is facing one of its worst economic crises in years. ✓The latest data from the National Bureau of Statistics on Thursday showed that the headline consumer price index (CPI) rose to 29.9% year-on-year in January, its highest level since 1996. ✓The surging cost of living and economic hardship sparked protests across the country over the weekend. https://lnkd.in/es_cHeXw #forex #forexmarket #foreignexchange #economictrends #economicoutlook #ai #nigerianbusiness #nigeria #economics #growthanddevelopment #businessagility
Africa's largest economy is battling a currency crisis and soaring inflation
cnbc.com
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Weekly wrap: Market optimism surrounds South Africa's new government of national unity, but will it last? Key themes: A new dawn for South Africa? United States (US) 10-year yields bounce off three-month lows Heightened geopolitical fears in the Middle East support oil prices Johannesburg Stock Exchange (JSE) soars to near-record highs following a broader rally Read more here: https://lnkd.in/dASHNa-r #WeeklyWrap #MarketUpdate #CitadelGlobal
