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
Cameroon
- Foreign Exchange: The Central African CFA Franc (XAF) shed 0.6% w/w from FCFA621/$ to close at FCFA624.6/$. The XAF is pegged to the Euro, which declined against the US dollar after the European Central Bank (ECB) cut its primary policy rate by a quarter basis point to 3% at its December 12 meeting. Lingering political challenges in France and bearish sentiment from ECB monetary easing will continue to weigh on the XAF until year-end.
- Petroleum Imports: On December 11, Neptune Oil, an energy company specialising in trading and distributing refined petroleum products in Cameroon and neighbouring countries, received the first consignment of PMS imports from the Dangote Refinery in Nigeria. The shipment is expected to stabilise petrol prices in Cameroon, which have increased by 15.1%
