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EXPLAINED: What does the ceasefire mean for SA? | SA News

What does the ceasefire mean for South Africa and for Africa?

It is clearly a good thing for South Africa and Africa, as it is for the rest of the world, mainly because oil and gas prices immediately dropped significantly, particularly on news that the Strait of Hormuz would be reopened. Brent crude oil fell as much as 16% and European natural gas futures dropped by as much as 20%. Conversely, stocks rose.

So all that is good for the global economy, including South Africa and Africa. For Africa specifically, Iran’s agreement to reopen the Strait of Hormuz also meant fertiliser supplies could resume, lowering the price of that essential input for farmers and staving off the danger of…

Host of Major Events: South Africa hosted the 2010 FIFA World Cup, becoming the
first African nation to do so.

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