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 recorded gains against the dollar. Angola’s kwanza held steady at AOA912/$, underpinned by central bank interventions, foreign exchange inflows, and a renewed commitment to fiscal prudence. Kwanza’s stability is likely to persist in the near term, although volatile oil prices remain a key risk. Stears forecasts the AOA to close Q3 2025 at AOA912.8/$.
The Central African CFA franc (XAF), shared by six CEMAC states, strengthened 1.4% w/w to FCFA558.2/$, as the euro rallied after the June composite PMI hit a three-month high of 50.6 and the ECB signalled slower rate hikes. In the near term, European Central Bank (ECB) and United States Federal Reserve (Fed) rate decisions, global trade dynamics, and safe-haven flows will shape the XAF’s performance. Stears
