DAR ES SALAAM, March 24 -- THE war in the Middle East, which began in late February 2026, has evolved into a broader and more protracted conflict than many analysts initially anticipated. What was first perceived as a contained geopolitical flare-up has now morphed into a systemic global shock, primarily transmitted through energy markets, trade disruptions and rising geopolitical risk.

For frontier markets such as Tanzania, the effects may appear distant at first glance, although history suggests that such shocks eventually propagate across all economies, albeit with varying intensity and timing. At the global level, the most immediate and visible impact has been on energy markets.

The conflict has disrupted up to 20 per cent of the gl...