By Lehlohonolo Lehana.
Minister of International Relations Ronald Lamola has warned that escalating global geopolitical tensions are already impacting food and energy markets across Southern Africa.
Lamola was speaking during the Southern African Development Community Council (SADC) of Ministers meeting in Tshwane.
He described the two-day gathering as a demonstration of SADC’s strength and potential, and said that potential could only be fully realised through sustained commitment to regional cooperation and integration.
He said ministers had raised concerns about rising global instability, conflict, economic volatility and disruptions to global supply chains.
The Middle East conflict began in late February when coordinated US and Israeli strikes targeted Iranian military and strategic sites, prompting Iranian missile and drone retaliation across the region.
Lamola warned rising crude prices could quickly spill over into food markets and put a strain on public finances in the region.
“Beyond the immediate impact of rising global oil prices, a spike in fertiliser costs is set to drive food prices up and further compromise food security across many of our countries,” he said.
“We will not emerge unscathed from this. Our public finances are likely to come under even greater strain and it’s our people who will bear the cost.”
Lamola noted that Gulf states may shift priorities toward defence and domestic security, which could reduce overseas investments.
“There is a growing concern that Gulf states may reassess overseas investment in infrastructure, critical minerals, energy and technology as their priorities shift towards internal defence and security considerations.”
Lamola said many Southern African states are facing these external shocks while still recovering from the economic effects of the COVID-19 pandemic and carrying high debt burdens.
He stressed that deeper regional cooperation and industrialization are essential to building more resilient economies and supporting the region’s more than 380 million people.