Relying on exports could leave the continent vulnerable to higher fuel and food prices © Jorg Greuel / Getty Images
Relying on exports could leave the continent vulnerable to higher fuel and food prices © Jorg Greuel / Getty Images

Africa must reduce dependence on commodity markets

7 October 2021

Commodity markets in Africa are likely to remain volatile in the coming months as the effects of Covid-19 on supply chains persist, the UN’s Economic Commission for Africa (ECA) has forecast.

Stephen Karingi, director of the regional integration and trade division at the ECA, noted African economies remain broadly dependent on commodity exports and are likely to benefit from higher prices.

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