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
The Angolan kwanza edged slightly lower by 0.1% to AOA 912.11/$, continuing its broadly stable trajectory despite moderate depreciation pressure stemming from end-of-year import demand and oil-related revenue fluctuations. The Central African CFA franc (XAF) appreciated by 0.4% to XAF563.43/$, benefiting from the euro’s relative strength against the dollar and steady regional external flows, particularly from hydrocarbons and agricultural exports. In contrast, the Congolese franc weakened by 0.5% to CDF2,229.03/$, amid renewed FX demand pressures and logistical disruptions in the mining sector, which have constrained copper and cobalt export flows, key sources of hard currency for the Democratic Republic of Congo. The implication is that while the kwanza and XAF remain broadly anchored by oil earnings and monetary policy stances, the Congolese franc remains vulnerable
