The ongoing war in the Middle East and its economic repercussions on Africa dominated discussions at the 44th meeting of the Committee of Experts for the Conference of African Ministers of Finance, Planning, and Economic Development (COM 2026), which concluded late Sunday in Tangier.
Claver Gatete, executive secretary of the United Nations Economic Commission for Africa, warned African governments of the severe economic fallout from the conflict, describing it as “one of the most significant external shocks facing the continent at this time.”
Gatete noted that approximately 28% of Africa’s fuel supply comes from the Middle East, making the continent highly vulnerable to disruptions in the region. Any instability, he said, directly affects supply chains and drives up prices across African economies.
Trade links between Africa and the Middle East extend beyond energy to critical sectors such as pharmaceuticals, further amplifying the impact of regional instability.
Rising fuel and gas prices are already affecting transportation, industry, and household consumption, Gatete said, stressing that “everyone is impacted, from individuals to national economies.”
He also warned of growing inflationary pressures, noting that such external shocks often fall beyond the control of central banks, as they are driven by global factors rather than domestic monetary or fiscal policies.
While government interventions can help mitigate the impact, Gatete said their effectiveness remains limited in the face of large-scale external shocks. He pointed to the Arab Spring period, when oil prices exceeded $100 per barrel, triggering widespread increases in fuel and commodity costs.
Current indicators suggest that the upward trend in energy prices may continue, with no clear end in sight to the conflict. Gatete called for stronger coordination among African countries to assess the crisis and adopt unified responses.
The issue is expected to feature prominently in upcoming ministerial discussions, held in coordination with the African Union, during the 58th Conference of African Ministers of Finance, Planning, and Economic Development, which continues in Tangier through Friday.
Despite the risks, Gatete noted that crises can also create unexpected opportunities. He urged African nations to remain vigilant and work collectively to minimize losses while maximizing potential gains, particularly in regions such as East Africa that may experience varying impacts.
Participants at COM 2026 also emphasized the need to accelerate digital transformation, calling for greater investment in infrastructure, workforce development, and artificial intelligence to boost economic growth. Experts stressed the importance of reducing reliance on foreign expertise in strategic sectors.
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