As the Russia – Ukraine war rages on, the impact on regional economies, especially those who export products to the two countries, is being felt.
In Africa, countries dependent on commodities like wheat, oil, and fertilizer components, among others, are also feeling the pinch.
In Ghana, the impact of a barrel of Brent Crude rising all the way to $139 sometime last month, is being felt at the pumps, with a litre of fuel going for about GH¢10 at some stations.
The war is also impacting on the export of commodities like cocoa, as companies in Russia and Ukraine who buy Ghana’s cocoa products are unable to do so now, because of sanctions on Russia and the halt in productive activity in Ukraine.
The following report has more on the impact of the war on Ghana’s cocoa revenue.