The Russia – Ukraine war is still raging. At this stage it is too soon to measure the war’s full impact on Africa, it is clear that the repercussions will be multidimensional. For now, African countries that are heavily dependent on food and energy imports from Russia are particularly vulnerable to economic shocks as a result of the crisis. Additionally, rising fertilizer costs further compound these increasing food prices.

According to the U.N., Russia is the highest exporter of nitrogen fertilizer and the second-highest exporter of phosphorous and potassium fertilizer globally.

African countries that produce fuel and gas such as Algeria, Angola, Cameroon, Republic of Congo, Egypt, Equatorial Guinea, Libya, Mozambique, Nigeria, Senegal, Sudan, and Tanzania should be benefiting from the resulting increase of prices.

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To assess the impact of Covid-19 on the state of business and industry, PACCI asked leaders of chambers of commerce and industry associations to complete a survey to help understand the impact of the ongoing global pandemic on business. This survey, which took place from 28 April 2020 to 12 May 2020, reflects the view of 112 presidents and senior officials of chambers of commerce and industry (City/Regional and national chambers), and Business Membership Associations, out of which 21 were women business leaders. This is the first edition of the survey that will be a quarterly tracking poll on the impact of the Covid-19 pandemic on businesses for the duration of this pandemic, so that we can track the impacts over time.