DOHA, Qatar / AfricaWire.IO / – African countries are feeling the economic fallout of the US-Israel war on Iran, with rising fuel and fertiliser prices threatening food security, trade officials have warned. Ministers from the region and a senior UN trade official raised the concerns at the World Investment Forum in Doha. Luz Maria de la Mora, director of the Division on International Trade and Commodities at UN Trade and Development (UNCTAD), said the crisis around the Strait of Hormuz must be resolved soon. She spoke to Al Jazeera on Monday.
De la Mora said fertiliser prices have risen dramatically, prompting many countries to cut their use. “It may have an effect on availability of food and prices of food,” she said. Lower fertiliser use could reduce harvests next year, she warned. She added that rising oil prices have disrupted supply chains, with effects lasting longer than expected.
The war has exposed the world’s heavy reliance on the Strait of Hormuz, through which one-fifth of global oil and liquefied natural gas trade previously passed. Brent crude touched $110 a barrel earlier this month. The 9th World Investment Forum, co-hosted by UNCTAD and Qatar, is being held in Doha from October 25 to 27. It brings together heads of state, policymakers, chief executives and investors under the theme “Investing in the Future.”
Zimbabwe and Uganda feel the strain
In Zimbabwe, more than 70% of the population depends on agriculture, making higher fuel and fertiliser costs a critical concern. Monica Mutsvangwa, the country’s minister of women affairs, community, small and medium enterprise development, described the impact to Al Jazeera. Uganda, another largely agrarian economy, has seen fuel prices more than double, according to trade minister Sanjay Tanna. The Ugandan shilling has also lost 10% of its value against the US dollar, he said.
Tanna said Uganda’s reliance on subsistence farming has helped cushion the shock, as domestic food production offers some protection from global market swings. Asked whether the international trading system treats all countries equally, he replied: “Of course not.” He said the system was unfair but argued that Uganda was well placed because it produces its own food. The shilling has declined steadily since mid-2026.
Investment and value addition in focus
Mutsvangwa said Zimbabwe sees itself as a partner to investors from both the United States and China amid their trade tensions, describing the country as a friend to all and an enemy to none. She pointed to deposits of more than 60 critical minerals, including lithium and graphite, and to the country’s tourism potential. De la Mora said investment tends to concentrate in a small number of countries because capital is risk averse. Africa attracted $70 billion in foreign direct investment in 2025, according to UNCTAD.
De la Mora said governments can build investor confidence through transparent institutions, the rule of law and infrastructure such as reliable electricity and digital connectivity. Jean-Jacques Bouya, Deputy Prime Minister of the Republic of Congo, said his country has aligned its Vision 2063 development plan with the African Union’s ambitions. Connectivity and local processing of natural resources are central to that strategy. Bouya said Africa can no longer serve only as a reservoir of raw materials.