Protests surge in Africa
Demonstrators blocked a critical supply route in South Africa this week, tying up the delivery of commodities, over an increase in the regulated pump price. This followed a protest in Mozambique, the world’s third-poorest country, where bus drivers paralysed the capital Maputo after diesel prices jumped.
Suppliers have blamed richer nations for paying a premium for cargoes, while soaring margins benefit the refining businesses of companies such as Shell.Transport price inflation feeds directly into food inflation, so keeping it under control has been an imperative, even when fiscal resources have [in some instances] come under greater strain.
In Kenya and Nigeria, both heading to elections in the coming months, the governments are burdened with costly fuel subsidies, as they struggle to finance gaping budget deficits. Ghanaian President Nana Akufo-Addo is now seeking a bailout from the International Monetary Fund after protests over issues including the rising price of fuel.“Governments across sub-Saharan Africa are always wary of pressure on urban electorates especially, who tend to be more politically mobilised,” Khan said.
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