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, the Angolan kwanza held steady at AOA912.09/$, the Central African CFA franc moved from XAF564.46/$ to XAF569.74/$, depreciating by 0.9%, and the Congolese franc shifted from CDF2,209.20/$ to CDF2,211.89/$, a minor loss of 0.1%. The kwanza’s unchanged level points to continued central bank stability and well-contained FX volatility, despite Angola’s heavy dependence on oil exports and pressures on its foreign reserve buffer. The XAF’s slight weakening occurred as the euro lost steam to the US dollar, a trend that could change if the US Federal Reserve proceeds with an unlikely rate cut at the December meeting. The CDF’s modest depreciation comes amid bearish global copper prices and lingering export-sector risk. In the near-term, in Angola, the resilience of the kwanza suggests that short-term
