Interest rate spread (lending rate minus deposit rate, %) in Sub-Saharan Africa (IDA & IBRD countries)
Sub-Saharan Africa (IDA & IBRD countries): Interest rate spread (lending rate minus deposit rate, %) was 7.1% in 2021. ▼ Falling
Interest rate spread in Sub-Saharan Africa (IDA & IBRD countries), 2001–2021
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
In 2021, interest rate spread in Sub-Saharan Africa (IDA & IBRD countries) stood at 7.1%.
The figure is down 15.5% on the previous year and down 10.6% over ten years.
Over the whole period, interest rate spread in Sub-Saharan Africa (IDA & IBRD countries) peaked at 11.4% in 2001 and was at its lowest, 6.7%, in 2009.
That places Sub-Saharan Africa (IDA & IBRD countries) 11th out of 40 groups with data for 2021, putting it in the middle of the range.
The long-run direction has been consistently falling across the 18 years of available data.
Interest rate spread (lending rate minus deposit rate, %) in Sub-Saharan Africa (IDA & IBRD countries), year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 2001 | 11.4% | — |
| 2005 | 7.5% | -34.6% |
| 2006 | 7.6% | +2.0% |
| 2007 | 7.7% | +0.8% |
| 2008 | 6.7% | -12.2% |
| 2009 | 6.7% | -0.8% |
| 2010 | 7.9% | +18.7% |
| 2011 | 8.0% | +0.5% |
| 2012 | 7.3% | -8.7% |
| 2013 | 7.1% | -2.7% |
| 2014 | 7.2% | +2.0% |
| 2015 | 6.8% | -6.1% |
| 2016 | 7.3% | +7.9% |
| 2017 | 8.4% | +15.3% |
| 2018 | 9.0% | +7.0% |
| 2019 | 8.9% | -1.3% |
| 2020 | 8.4% | -5.4% |
| 2021 | 7.1% | -15.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.9% | 6.7% | 11.4% | 6 |
| 2010s | 7.8% | 6.8% | 9.0% | 10 |
| 2020s | 7.8% | 7.1% | 8.4% | 2 |
Countries ranked near Sub-Saharan Africa (IDA & IBRD countries)
- 8 Gambia 15.5% compare
- 9 Sao Tome and Principe 15.4% compare
- 10 Sierra Leone 14.4% compare
- 11 South Sudan 14.2% compare
- 12 Somalia 13.0%
- 13 Micronesia (country) 12.6% compare
- 14 Mozambique 11.8% compare
More financial sector data for Sub-Saharan Africa (IDA & IBRD countries)
- Net migration -223,909 (2025)
- Monetary Sector credit to private sector 24.8% (2023)
- Broad money 42.6% (2025)
- Claims on central government, etc. 12.9% (2023)
- Domestic credit to private sector 31.7% (2023)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Total reserves in months of imports, annual growth rate 20.18 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports 6.12 (2025)
- Net migration, annual growth rate 67.11 % change on previous year (2025)
Frequently asked questions
- What is interest rate spread in Sub-Saharan Africa (IDA & IBRD countries)?
- Interest rate spread in Sub-Saharan Africa (IDA & IBRD countries) was 7.1% in 2021, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in Sub-Saharan Africa (IDA & IBRD countries)?
- The highest recorded value was 11.4% in 2001.
- What is the lowest interest rate spread recorded in Sub-Saharan Africa (IDA & IBRD countries)?
- The lowest recorded value was 6.7% in 2009.
- How does Sub-Saharan Africa (IDA & IBRD countries) rank for interest rate spread?
- Sub-Saharan Africa (IDA & IBRD countries) ranks 11th out of 40 groups with data for 2021.
- Is interest rate spread rising or falling in Sub-Saharan Africa (IDA & IBRD countries)?
- Over the last ten years it is down 10.6%. The long-run trend across the full record is falling.
- Where does this Sub-Saharan Africa (IDA & IBRD countries) 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.