the Pan-African Manufacturers Association (PAMA) has highlighted ongoing challenges faced by African industries due to fluctuations in the dollar and geopolitical tensions in the Middle East. Despite some stability in currencies such as Nigeria's naira and Kenya's shilling in 2026, PAMA emphasized that the disparity between local-currency revenues and the costs of inputs priced in major foreign currencies continues to pose a significant risk. The Association noted that while recent perceptions of currency strength may indicate macroeconomic progress, the underlying issues affecting manufacturing sectors remain unresolved.
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