The recent free fall in oil prices is creating winners and losers across the globe, and Africa is no exception. Some of the consequences of cheap oil seem obvious: the oil exporting economies in Africa will take a hit, while the importers will rejoice.
However, the extent to which the pain and the gains will be felt is less immediately clear. This will depend on various factors, including the degree of oil dependency and the size of fiscal buffers in different African countries. Moreover, there may be some offsetting benefits even for the oil producers.