The Stears Weekly Macroeconomic Report highlights the macroeconomic trends and policy shifts shaping the African investment landscape, helping you make informed decisions in dynamic markets.
Country updates
Central Africa
Foreign exchange
Central African currencies saw gains last week. The Angolan kwanza remained stable, trading at AOA911.96/$, as strong oil receipts and capital inflows toward long-term infrastructure development supported investor confidence. The Congolese franc appreciated by 1.2%, reversing its 0.9% loss from the previous week. This was driven by favourable market sentiment surrounding peace talks and expectations of easing tensions with the M23 rebels. However, concerns about tight cobalt export earnings could weaken the currency in the near term. The Central African CFA franc (XAF) also gained as the euro strengthened against the US dollar. This was due to tariff uncertainties, bearish sentiment around US-Russia talks, and market expectations of a potential US Federal Reserve rate cut in September, which would likely keep both the euro and
