Focus on Africa US‑Israel war with Iran hits oil in Africa
Mar 5, 2026
Sarkodie, multi‑award‑winning Ghanaian rapper known for hip‑life and afrobeat, and Paul Aladje, chief economist with expertise in finance and energy markets, discuss how the Strait of Hormuz closure and oil disruptions ripple across African fuel supplies. They probe shipping risks, rising transport and household costs, and calls for regional self‑reliance and stronger economic leadership.
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Strait Of Hormuz Shutdown Raises Global Oil Risk
- The Strait of Hormuz closure threatens a fifth of global oil supply and pushed Brent crude about 3% higher as of March 5th.
- Lloyd's List Intelligence reported an 80% drop in maritime traffic after at least four tankers were struck by drones, disrupting over 20 million barrels daily.
Africa's Heavy Reliance On Gulf Oil
- Many African regions rely heavily on Gulf oil, with East Africa importing about 77% of its oil from the Gulf in 2025.
- South Africa raised fuel prices and Botswana warned of higher insurance and freight costs, while Kenya says it has stocks to cushion shocks.
Local Refineries Still Linked To Global Prices
- Global supply disruption raises local African fuel prices because demand remains steady while supply tightens.
- Even African refineries like Dangote still buy crude on global markets and cannot control international prices.