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 continued their positive performance last week, with the Central African CFA franc (XAF) extending its gains due to a stronger euro. With the US Fed likely opting for a dovish stance, potentially meeting market expectations of a rate cut by September, the dollar lost steam, strengthening the euro and, by extension, the XAF. The Congolese franc gained 0.9% following a $50 million injection by the central bank into commercial banks to boost foreign exchange liquidity, meet demand, and temper currency pressures amid rising security risks. Meanwhile, the Angolan kwanza remained stable, trading at AOA911.96/$ due to sustained interventions and strong capital inflows and export receipts. In the coming weeks, central African currencies will remain vulnerable to global shocks, including those affecting the
