Africa’s Wealthiest Nations aren’t Immune to Inflation’s Bite – Africa.com
Inflation has become a global challenge, affecting both developed and emerging economies. African economies face unique difficulties due to import dependence and currency volatility as inflation surges, driven by COVID-19 aftershocks, geopolitical tensions and supply chain disruptions. Major economies such as South Africa, Egypt, Nigeria and Kenya are grappling with rising food and fuel costs, currency depreciation and economic uncertainty, putting pressure on businesses and households. However, resilience emerged as countries such as Angola and Nigeria used oil production to tame inflationary pressures. These efforts highlight Africa’s potential to weather global economic headwinds and promote stability amid challenges.
source: Africa Business Insider
