The International Monetary Fund (IMF) has sounded the alarm on lingering inflation woes in Africa and the Middle East, citing double-digit price increases in many countries. This comes as a blow to startups and entrepreneurs in the region, who are already grappling with economic uncertainty.

In Africa, the cost of basic goods and services has skyrocketed, with food prices being particularly hard hit due to local and global disruptions. Sudan, Egypt, and Sierra Leone are among the top 10 African countries with the highest inflation rates, with Sudan leading the pack at a staggering 157.9%.

While some major African economies are expected to see inflation ease next year, Nigeria is expected to remain an exception due to ongoing currency challenges. Ghana, on the other hand, is projected to see inflation drop significantly.

The IMF's warning serves as a reminder to startups and entrepreneurs in the region to factor in inflation risks when planning their business strategies. With borrowing set to increase substantially in Ghana, Nigeria, and Uganda in 2025, entrepreneurs will need to be more agile and adaptable than ever to navigate these economic headwinds.