Oil prices in Africa have flared up since Egypt’s ousting of President Mohamed Morsi, indicating long-standing grievances that led to the removal of a democratically elected president.
“This is really the carrying over from the Arab spring, the social turmoil that took place there so it’s quite clear that it’s going to be a long process. When we have a revolution taking place it takes a while for it to settle, for all the parties to feel that the process is inclusive. We’re still going through that negotiation period that really will lead to some equilibrium at some point,” Africa Development Bank (AfDB) vice president Mthuli Ncube told CNBC Africa on Tuesday.
Similarly, Zimbabwe is set to undergo change in leadership as the country’s general elections on 31 July draw closer. Despite new constitutional amendments having been approved and signed in, fears of vote rigging have emerged even before ballots are cast.
Zimbabwe has been plagued with a substantially weak local currency and high inflation under the 28-year leadership of President Mugabe. Previous general elections have been marred by alleged vote rigging and an unchanged iron fist rulership.
While both countries have completely different political dynamics, issues of youth unemployment and policy implementation failures by governmental leaders have sparked outcry and protest.
“North Africa, which was the point of departure was the Arab spring, it had to do with issues around certain parts of society not feeling included in the political process but also in the economic gains,” Ncube explains.
“A lot has to do with natural resources. We’re finding that natural resources become an issue when it comes to political democratic transitions. But also we’re finding that ethnic fracturalisation is also an issue.”