Geopolitical tensions, especially in the Gulf region, have largely been bad news for East African economies. Rising fuel costs and uncertainty over import delivery times have meant that the cost of living has generally risen and currencies weakened.
Since February, the region has endured the blockade of the Strait of Hormuz, through which most countries in East Africa imported their fuel. More recently, the Houthi attacks on Saudi Arabian installations, as well as warnings to vessels in the Bab el-Mandeb Strait, have added to the uncertainty.
