African economy

The escalating US-Israel-Iran conflict is hitting African economies hard, with currencies weakening, oil prices surging, and regional stability threatened as Iranian forces deploy sea mines and drone boats in the Persian Gulf.

Iran's oil blockade in the Strait of Hormuz is sending shockwaves through African economies, driving up fertilizer costs, disrupting currency markets, and threatening to deepen poverty across the continent.

Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola secured positions on Forbes' 2026 Africa billionaires ranking, with net worths calculated using 1 March 2026 market data.