Home
FacebookTwitterSearchMenu
  • Subscribe
  • Subscribe
  • News
  • Features
  • Knowledge Library
  • Columns
  • Customs
  • Jobs
  • Directory
  • FX Rates
  • Categories
    • Categories
    • Africa
    • Air Freight
    • BEE
    • Border Beat
    • COVID-19
    • Crime
    • Customs
    • Domestic
    • Duty Calls
    • Economy
    • Employment
    • Energy/Fuel
    • Events
    • Freight & Trading Weekly
    • Imports and Exports
    • Infrastructure
    • International
    • Logistics
    • Other
    • People
    • Road/Rail Freight
    • Sea Freight
    • Skills & Training
    • Social Development
    • Sustainability
    • Technology
    • Trade/Investment
    • Webinars
  • Contact us
    • Contact us
    • About Us
    • Advertise
    • Send us news
    • Editorial Guidelines
Africa
Economy

Ukraine war puts 70% of African economies at severe risk

20 Apr 2022 - by Staff reporter
0 Comments

Share

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • E-mail
  • Print

A United Nations report has found that more than 70% of Africa’s economies are at severe risk from Russia’s war in Ukraine. The African Development Bank is one of several international organisations, including UN specialised agencies and development lenders, that are considering a plan to boost food production in Africa and avert a heavy toll on the African continent.

UN Secretary-General Antonio Guterres announced the establishment of a 32-member UN Global Crisis Response Group - which he chairs - in March. Its members are the heads of the various organisations. Its first brief found that 41 African countries face maximum exposure to at least one emergency caused by the war.

“The war is supercharging a three-dimensional crisis – food, energy and finance – that is pummelling some of the world’s most vulnerable people, countries and economies,” Guterres warned at a virtual press conference.

The Global Crisis Response Group will help decision-makers around the world mobilise solutions and develop strategies and recommendations to help all countries - including the most vulnerable – deal with the interlinked crises. Preliminary analysis suggests that as many as 1.7 billion people in 107 economies are exposed to at least one of the three risks highlighted by the group.

African Development Bank Group President Dr Akinwumi A Adesina said the emergency food plan would build on the success of existing programmes, such as the African Development Bank’s Technologies for African Agricultural Transformation initiative which has provided 11 million farmers across 29 African countries with technologies like drought-resistant maize, heat-resistant wheat, and higher-yielding seed varieties.

“We need really to have a sense of urgency – restrictions need to be abolished, there should be no hoarding of any of these products, and most importantly, we need to use immediately the financial instruments available,” Guterres said.

Russia and Ukraine provide around 30% of the world’s wheat and barley, one-fifth of its maize, and over half of its sunflower oil. At the same time, Russia is the world’s top natural gas exporter, and second-largest oil exporter. Russia and its neighbour Belarus export around one-fifth of the world’s fertilisers.

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.
Subscribe to receive print copies of Freight News Features to your door.

KZN ports: now for the good news

Logistics
Sea Freight

Transnet signed a R285 million agreement with Grindrod Eyamakhosi Joint Venture to develop a new Richards Bay container handling facility.

09 Jun 2025
0 Comments

Shipwreckers unite industry, raise R75 000 for charity

Logistics

“This wasn’t just a party; it was a purpose-driven celebration.” – Post-event statement.

09 Jun 2025
0 Comments

Exports to Lesotho face new regulation rollout from July

Africa
Imports and Exports
Logistics

Previously it seemed agents were hoping Asycuda would cause RSL to pull the plug on TIN.

09 Jun 2025
0 Comments

Vessel abandonment cases surge 33%

Sea Freight

Hundreds of seafarers were left unpaid and without food, water or access to ports – often for months at a time.

09 Jun 2025
0 Comments

Salvage team heads to abandoned Alaska cargo ship

Sea Freight

A second tug with advanced firefighting capabilities is being mobilised to attend the scene of the fire.

09 Jun 2025
0 Comments

CMA CGM launches electric river barge

Sea Freight
Technology

The shipping line has pioneered with Nike as its first customer to use the 100% electric vessel.

06 Jun 2025
0 Comments

Zim's anti-smuggling measures delay legitimate freight operations

Border Beat
Crime
Road/Rail Freight
06 Jun 2025
0 Comments

Trump and Xi talk trade for more than an hour

Economy
International
Trade/Investment

Both leaders reportedly agreed to facilitate further face-to-face meetings in the near future.

06 Jun 2025
0 Comments

RTMC platform hits four million transactions

Road/Rail Freight
Technology

Motorists reject waiting in queues and opt for easy online vehicle licence renewal service.

06 Jun 2025
0 Comments

Global ocean economy faces rising risk

Sea Freight

Shipping, tourism, fisheries, and marine energy accounted for 7% of global trade in 2023.

06 Jun 2025
0 Comments

KZN fingered as one of the top cargo theft regions

Logistics
Road/Rail Freight

"South Africa ranks among the top countries globally and leads the African continent in cargo theft."

06 Jun 2025
0 Comments

Crew abandon blazing car carrier

Logistics
Sea Freight
Technology

The vessel was carrying 800 electric and 2 200 internal combustion engine vehicles when the fire broke out.

06 Jun 2025
0 Comments
  • More

FeatureClick to view

Road & Rail 27 June 2025

Border Beat

Forum tightens net against border corruption
25 Jun 2025
Police clamp down on cross-border crime
17 Jun 2025
Zim's anti-smuggling measures delay legitimate freight operations
06 Jun 2025
More

Poll

Has South Africa's ports turned the corner?

Featured Jobs

New

Multimodal Controller DBN (OR Strong in Sea Imports FCL/LCL/Breakbulk and willing to learn other modes)

Tiger Recruitment
DBN North
26 Jun
New

Commercial Manager

Lee Botti & Associates
Durban
25 Jun
More Jobs
  • © Now Media
  • Privacy Policy
  • Freight News RSS
  • About Us
  • Advertise
  • Send us news
  • Contact us