Oil Surge Winners Angola Nigeria Ghana vs DRC South Africa Losers in Iran War Shock
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US-Israel-Iran war oil surge ~$85/bbl boosts current account balance only three sub-Saharan economies Angola Nigeria Ghana per Bloomberg Economics; most others suffer inflation pressure weaker currencies potential rate hikes. Angola benefits up 3.3% GDP Nigeria gains crude sales/fuel exports; Ghana also winner.
Losers include DRC South Africa Kenya biggest hits; South Africa current account -1% GDP fuel costs rise April Central Energy Fund data traders price interest-rate hike later March. Nigeria billionaire Aliko Dangote eyes Europe exports from 650,000 bpd refinery if prices right.
South Africa fuel supplies risk if India/Oman major suppliers throttle exports. Higher oil pressures inflation biggest risk most African nations Yvonne Mhango Bloomberg Economics.
