Interest rate spread in Sub-Saharan Africa (excluding high income)
Sub-Saharan Africa (excluding high income): Interest rate spread was 8.0% in 2020. ▲ Rising
Interest rate spread in Sub-Saharan Africa (excluding high income), 2005–2020
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
The most recent figure for interest rate spread in Sub-Saharan Africa (excluding high income) is 8.0%, measured in 2020.
The figure is down 9.2% on the previous year and up 1.1% over ten years.
Over the whole period, interest rate spread in Sub-Saharan Africa (excluding high income) peaked at 8.8% in 2019 and was at its lowest, 6.6%, in 2015.
Sub-Saharan Africa (excluding high income) ranks 8th of 40 groups on this measure, in the top quarter.
The long-run direction has been consistently rising across the 16 years of available data.
Interest rate spread in Sub-Saharan Africa (excluding high income), year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 2005 | 7.5% | — |
| 2006 | 7.6% | +1.6% |
| 2007 | 7.6% | +0.2% |
| 2008 | 6.7% | -12.2% |
| 2009 | 7.1% | +5.4% |
| 2010 | 7.9% | +12.2% |
| 2011 | 7.7% | -2.4% |
| 2012 | 6.8% | -12.4% |
| 2013 | 6.8% | +0.3% |
| 2014 | 6.8% | +0.7% |
| 2015 | 6.6% | -4.3% |
| 2016 | 7.1% | +9.0% |
| 2017 | 8.2% | +15.2% |
| 2018 | 8.8% | +6.4% |
| 2019 | 8.8% | +0.8% |
| 2020 | 8.0% | -9.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.3% | 6.7% | 7.6% | 5 |
| 2010s | 7.6% | 6.6% | 8.8% | 10 |
| 2020s | 8.0% | 8.0% | 8.0% | 1 |
Countries ranked near Sub-Saharan Africa (excluding high income)
- 5 Tajikistan 18.4% compare
- 6 Kyrgyzstan 18.1% compare
- 7 Congo, Democratic Republic of the 17.6% compare
- 8 Gambia 15.5% compare
- 9 Sao Tome and Principe 15.2% compare
- 10 Sierra Leone 14.4% compare
- 11 South Sudan 14.2% compare
More financial sector data for Sub-Saharan Africa (excluding high income)
- Claims on central government, etc. 12.2% (2022)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports 6.46 (2025)
- Monetary Sector credit to private sector 22.9% (2022)
- Broad money 38.6% (2023)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Net migration -225,499 (2025)
- Net migration, annual growth rate 66.97 % change on previous year (2025)
- Domestic credit to private sector by banks 24.7% (2023)
- Domestic credit to private sector 29.4% (2022)
Frequently asked questions
- What is interest rate spread in Sub-Saharan Africa (excluding high income)?
- Interest rate spread in Sub-Saharan Africa (excluding high income) was 8.0% in 2020, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in Sub-Saharan Africa (excluding high income)?
- The highest recorded value was 8.8% in 2019.
- What is the lowest interest rate spread recorded in Sub-Saharan Africa (excluding high income)?
- The lowest recorded value was 6.6% in 2015.
- How does Sub-Saharan Africa (excluding high income) rank for interest rate spread?
- Sub-Saharan Africa (excluding high income) ranks 8th out of 40 groups with data for 2020.
- Is interest rate spread rising or falling in Sub-Saharan Africa (excluding high income)?
- Over the last ten years it is up 1.1%. 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 Interest rate spread (lending rate minus deposit rate, %). Statizoid updates them automatically from the source API.
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About this data
Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.