Interest rate spread (lending rate minus deposit rate, %) in Sub-Saharan Africa
Sub-Saharan Africa: Interest rate spread (lending rate minus deposit rate, %) was 7.1% in 2021. ▼ Falling
Interest rate spread in Sub-Saharan Africa, 2001–2021
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
Sub-Saharan Africa recorded 7.1% for interest rate spread in 2021.
Compared with earlier readings it 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 peaked at 11.4% in 2001 and was at its lowest, 6.7%, in 2009.
That places Sub-Saharan Africa 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, 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
- 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
- Reserve position in the IMF, US dollar, annual growth rate 5.14 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.75 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.1205 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 1.28 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.14 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.75 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.1205 % change on previous year (2025)
Frequently asked questions
- What is interest rate spread in Sub-Saharan Africa?
- Interest rate spread in Sub-Saharan Africa 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?
- The highest recorded value was 11.4% in 2001.
- What is the lowest interest rate spread recorded in Sub-Saharan Africa?
- The lowest recorded value was 6.7% in 2009.
- How does Sub-Saharan Africa rank for interest rate spread?
- Sub-Saharan Africa ranks 11th out of 40 groups with data for 2021.
- Is interest rate spread rising or falling in Sub-Saharan Africa?
- 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 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.