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
Last week, Central African currencies posted varied performances. The Congolese franc extended its losses, depreciating 0.9% week-over-week (previous: 0.2%) due to bearish investor sentiments surrounding the cobalt export ban, which continues to impact forex inflows and currency stability. The currency is also negatively affected by lingering tensions in the country that could impact macroeconomic stability in the near term. The Central African CFA franc (XAF) strengthened during the week as the euro gained ground amid a weaker US dollar and tapering expectations of a rate cut from the European Central Bank (ECB) in September, which is expected to support the euro. The Angolan kwanza remained unchanged, trading at AOA911.96/$ as central bank interventions and higher oil receipts support the currency. Currency pressures across central African
