Domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income)
Sub-Saharan Africa (excluding high income): Domestic credit to private sector by banks was 24.7% in 2023. ▲ Rising
Domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income), 1963–2023
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income) is 24.7%, measured in 2023.
Compared with earlier readings it is up 9.3% on the previous year and down 3.7% over ten years.
Over the whole period, domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income) peaked at 30.6% in 2009 and was at its lowest, 6.0%, in 1963.
Sub-Saharan Africa (excluding high income) ranks 42nd of 47 groups on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 59 years of available data.
Domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income), year by year
| Year | % of GDP | Change |
|---|---|---|
| 1963 | 6.0% | — |
| 1965 | 17.1% | +185.7% |
| 1966 | 16.7% | -2.1% |
| 1967 | 18.0% | +7.8% |
| 1968 | 18.2% | +1.0% |
| 1969 | 18.4% | +0.9% |
| 1970 | 18.8% | +2.2% |
| 1971 | 20.4% | +8.7% |
| 1972 | 19.7% | -3.4% |
| 1973 | 21.3% | +8.0% |
| 1974 | 20.4% | -4.4% |
| 1975 | 21.2% | +4.1% |
| 1976 | 19.5% | -8.3% |
| 1977 | 20.0% | +2.7% |
| 1978 | 21.1% | +5.5% |
| 1979 | 21.0% | -0.2% |
| 1980 | 21.9% | +4.1% |
| 1981 | 17.4% | -20.5% |
| 1982 | 18.0% | +3.2% |
| 1983 | 21.1% | +17.4% |
| 1984 | 21.7% | +2.9% |
| 1985 | 19.4% | -10.7% |
| 1986 | 21.3% | +9.9% |
| 1987 | 23.1% | +8.7% |
| 1988 | 23.8% | +2.8% |
| 1989 | 23.8% | +0.1% |
| 1990 | 23.2% | -2.7% |
| 1992 | 27.9% | +20.4% |
| 1993 | 26.3% | -5.7% |
| 1994 | 27.1% | +3.1% |
| 1995 | 24.6% | -9.2% |
| 1996 | 22.7% | -7.7% |
| 1997 | 23.5% | +3.5% |
| 1998 | 23.5% | -0.1% |
| 1999 | 29.8% | +27.0% |
| 2000 | 28.4% | -4.9% |
| 2001 | 29.7% | +4.7% |
| 2002 | 22.6% | -24.1% |
| 2003 | 26.5% | +17.3% |
| 2004 | 27.5% | +3.8% |
| 2005 | 27.4% | -0.1% |
| 2006 | 27.9% | +1.7% |
| 2007 | 30.0% | +7.6% |
| 2008 | 28.7% | -4.3% |
| 2009 | 30.6% | +6.6% |
| 2010 | 28.9% | -5.5% |
| 2011 | 27.5% | -4.8% |
| 2012 | 27.1% | -1.7% |
| 2013 | 25.7% | -5.2% |
| 2014 | 25.6% | -0.1% |
| 2015 | 26.9% | +5.1% |
| 2016 | 27.5% | +2.1% |
| 2017 | 27.0% | -1.8% |
| 2018 | 25.6% | -5.1% |
| 2019 | 22.6% | -11.7% |
| 2020 | 23.3% | +2.8% |
| 2021 | 23.4% | +0.6% |
| 2022 | 22.6% | -3.4% |
| 2023 | 24.7% | +9.3% |
Biggest year-on-year movements
Years where Domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income) changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1965 | +185.7% | 6.0% | 17.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 15.7% | 6.0% | 18.4% | 6 |
| 1970s | 20.3% | 18.8% | 21.3% | 10 |
| 1980s | 21.1% | 17.4% | 23.8% | 10 |
| 1990s | 25.4% | 22.7% | 29.8% | 9 |
| 2000s | 27.9% | 22.6% | 30.6% | 10 |
| 2010s | 26.4% | 22.6% | 28.9% | 10 |
| 2020s | 23.5% | 22.6% | 24.7% | 4 |
Countries ranked near Sub-Saharan Africa (excluding high income)
More financial sector data for Sub-Saharan Africa (excluding high income)
- Net migration -225,499 (2025)
- Total reserves in months of imports 6.46 (2025)
- Monetary Sector credit to private sector 22.9% (2022)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Broad money 38.6% (2023)
- Total reserves in months of imports, annual growth rate 20.02 % change on previous year (2025)
- Domestic credit to private sector 29.4% (2022)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Net migration, annual growth rate 66.97 % change on previous year (2025)
- Claims on central government, etc. 12.2% (2022)
Frequently asked questions
- What is domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income)?
- Domestic credit to private sector by banks in Sub-Saharan Africa (excluding high income) was 24.7% in 2023, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Sub-Saharan Africa (excluding high income)?
- The highest recorded value was 30.6% in 2009.
- What is the lowest domestic credit to private sector by banks recorded in Sub-Saharan Africa (excluding high income)?
- The lowest recorded value was 6.0% in 1963.
- How does Sub-Saharan Africa (excluding high income) rank for domestic credit to private sector by banks?
- Sub-Saharan Africa (excluding high income) ranks 42nd out of 47 groups with data for 2023.
- Is domestic credit to private sector by banks rising or falling in Sub-Saharan Africa (excluding high income)?
- Over the last ten years it is down 3.7%. The long-run trend across the full record is rising.
- Where does this Sub-Saharan Africa (excluding high income) data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Domestic credit to private sector by banks (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 59 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.