Falling commodity prices , which are causing African currencies to collapse , reveal the economic vulnerabilities of Africa by driving up inflation in a continent that imports a majority of its manufactured goods . As we have previously noted , commodity producing nations such as South Africa , Ghana , Angola and Nigeria are in dire economic straits . SEE ALSO: Economists say African economies need to diversify and adopt strategies for industrialisation to reduce their reliance on imports , however against the current scenario this will be difficult , as investment is hampered by rising inflation and interest rates , as well as food shortages that are impacting a number of areas . Even in countries where central banks have introduced additional measures in a bid to maintain stability , such as Nigeria , inflation continues to rise .
Falling commodity prices , which are causing African currencies to collapse , reveal the economic vulnerabilities of Africa by driving up inflation in a continent that imports a majority of its manufactured goods . As we have previously noted , commodity producing nations such as South Africa , Ghana , Angola and Nigeria are in dire economic straits . Economists say African economies need to diversify and adopt strategies for industrialisation to reduce their reliance on imports , however against the current scenario this will be difficult , as investment is hampered by rising inflation and interest rates , as well as food shortages that are impacting a number of areas . Even in countries where central banks have introduced additional measures in a bid to maintain stability , such as Nigeria , inflation continues to rise .