Buoyed by higher oil prices and IMF disbursements, Angola’s currency, the Kwanza, rose 22.2% since January 2022, topping the most performing African currencies.
Kwanza, Angola’s currency has appreciated by 22.21% against the US dollar since January 2022. According to a Bloomberg index analyzing twenty African currencies, this is the highest performance in Africa.
The performance was recorded because the central bank had more foreign currency than requested by commercial banks. According to the Angolan Central Bank, during the period, oil prices and exports followed the same upward trend. This subsequently influenced foreign currency offers and ultimately contributed to the “positive performance of the country’s current account,” the central bank explains. Also, IMF disbursements in the framework of its economic and financial program with Angola improved the country’s foreign reserves, official sources reveal.
The second-best performance was achieved by the rand (South Africa), which rose by 7.82% against the dollar. It was followed by the Guinean franc (Guinea-Conakry) which was appreciated by 4.53%. Other currencies that have risen this year include the naira (Nigeria) (+1.94%), the Botswana franc (1.76%), the Mozambican metical (0.19%), and the Rwandan franc (0.12%).
At the same time, the Ghanaian currency (cedi) declined the most with -17.8%. The country saw its sovereign rating downgraded to the lowest speculative grade by various rating agencies. This caused the divestment of several investors who previously bought its local-currency-denominated securities.
Béni Muwawa
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...