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) appreciated sharply by 4.4% w/w after recording a 0.8% w/w loss the previous week. The currency gained from FCFA632.2/$ to FCFA605.5/$ on market optimism towards the Euro following Germany’s fiscal stimulus plans and a weaker US dollar due to slightly higher unemployment rate figures (4.1%) for February 2025. The positive sentiments towards the Euro will likely extend this week. However, global uncertainties around US tariffs coinciding with lower interest rates from the European Central Bank (ECB) could remain a potential risk to XAF's performance. The ECB cut rates by 25 basis points at its March 6 meeting.
- Rice Production: Cameroon secured FCFA5.9 billion ($9.8 million) from the Kuwait Fund for Arab Economic Development to boost rice production.
