How the war in the Middle East is affecting the economies in Africa.

From Marketplace in Washington, I'm Kimberly Adams.

The U.S. and Iran are set to sign that new peace deal on Friday, but the economic recovery will take time.

Once the deal is signed, hundreds of vessels stuck in the Persian Gulf will be competing to get through the Strait of Hormuz. Some of those ships are carrying fertilizer, which is desperately

needed by farmers. Meanwhile, world leaders are meeting at the G7 France this week, and one of

the major topics is the diverse economic needs on the continent of Africa. Joining me now to

discuss that and more is Mavis O Awusu Jemfi. She's a political

economist as well as the president and CEO of the African Center for Economic Transformation.

Mavis joins me from Accra, the capital of Ghana. Welcome, Mavis. Thank you. So we are on day

two of the G7. What sorts of things are the highlights of the G7 agenda where you are?

It's focused very much around issues related to the U.S.-Iran deal,

as well as Ukraine, Russia, war, trying to get a deal.

But in the margins, we do know that President Macron wants to bring African issues to the

table. President Macron alongside the president of Kenya hosted something called the Africa

Forward Summit. And there were a number of initiatives that were discussed. But there was one in

particular, which was really exciting,

which is the first loss guarantee mechanism,

which is built around the Africa Trade and Investment Development Insurance Agency,

which would enable African government to leverage their money

a lot more than they've been able to do in the past.

As you mentioned, the U.S. and Iran have announced an extension of their ceasefire.

How have we seen the effects of the war show up in African markets?

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