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
The Congolese franc depreciated by 2.6% last week, reversing its 8.1% appreciation the previous week, due to reduced central bank interventions and lower local currency demand. We anticipate this trend will change in the coming weeks, keeping the currency positive and stable owing to higher copper and cobalt prices. The CFA franc (XAF) marginally gained as the euro remained stable against the US dollar and political tensions in France eased. Heading to the following weeks, the upward trend will likely continue as the US Fed is expected to cut rates further, possibly weakening the US dollar.
Key developments
Angola
- Infrastructure investment: Angola's government has pivoted its financing strategy for the $3 billion Luanda Metro project to rely on public funds for the first phase, after encountering difficulty in
