Africa faces 86 million tonne fuel shortfall by 2040: finance body

The Africa Finance Corporation (AFC) said the continent is heading towards an 86 million tonne fuel shortfall by 2040.

In a report published on Thursday, the AFC said the Iran war has exposed the continent’s vulnerability to global shipping chokepoints.

It noted that Africa imports over 70% of its refined fuel and some $230 billion worth of essential goods annually, including food, plastics, steel, and fertiliser.

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