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 posted a mixed performance last week, reflecting varied economic fundamentals and policy dynamics. The Angolan kwanza (AOA) remained broadly stable at AOA912/$, buoyed by continued central bank intervention, steady foreign exchange inflows, and a tight monetary policy stance. International reserves dipped slightly to $15.6 billion as of June 26, down from $15.7 billion the previous week, reflecting forex sales by the Banco Nacional de Angola (BNA) to anchor currency stability. While near-term stability will likely persist, volatility in global oil prices continues to cloud the outlook. Stears forecasts the AOA to close Q2 2025 at AOA911.7/$.
The Central African CFA franc (XAF), shared by six CEMAC countries, appreciated by 1.2%, ending the week at FCFA565.9/$. This gain was driven mainly by the
