Lending Rate, Percent per annum in Kenya
Kenya: Lending Rate, Percent per annum was 16.59 in 2024. ▲ Rising
Lending Rate, Percent per annum in Kenya, 1971–2024
Source: International Monetary Fund.
Analysis
In 2024, lending rate, percent per annum in Kenya stood at 16.59.
Compared with earlier readings it is up 22.1% on the previous year and up 0.5% over ten years.
Over the whole period, lending rate, percent per annum in Kenya peaked at 36.24 in 1994 and was at its lowest, 9, in 1971.
That places Kenya 24th out of 144 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 54 years of available data.
Lending Rate, Percent per annum in Kenya, year by year
| Year | Value | Change |
|---|---|---|
| 1971 | 9 | — |
| 1972 | 9 | +0.0% |
| 1973 | 9 | +0.0% |
| 1974 | 9.5 | +5.6% |
| 1975 | 10 | +5.3% |
| 1976 | 10 | +0.0% |
| 1977 | 10 | +0.0% |
| 1978 | 10 | +0.0% |
| 1979 | 10 | +0.0% |
| 1980 | 10.58 | +5.8% |
| 1981 | 12.42 | +17.3% |
| 1982 | 14.5 | +16.8% |
| 1983 | 15.83 | +9.2% |
| 1984 | 14.42 | -8.9% |
| 1985 | 14 | -2.9% |
| 1986 | 14 | +0.0% |
| 1987 | 14 | +0.0% |
| 1988 | 15 | +7.1% |
| 1989 | 17.25 | +15.0% |
| 1990 | 18.75 | +8.7% |
| 1991 | 19 | +1.3% |
| 1992 | 21.07 | +10.9% |
| 1993 | 29.99 | +42.3% |
| 1994 | 36.24 | +20.8% |
| 1995 | 28.8 | -20.5% |
| 1996 | 33.79 | +17.3% |
| 1997 | 30.25 | -10.5% |
| 1998 | 29.49 | -2.5% |
| 1999 | 22.38 | -24.1% |
| 2000 | 22.34 | -0.2% |
| 2001 | 19.67 | -12.0% |
| 2002 | 18.45 | -6.2% |
| 2003 | 16.57 | -10.2% |
| 2004 | 12.53 | -24.4% |
| 2005 | 12.88 | +2.8% |
| 2006 | 13.64 | +5.8% |
| 2007 | 13.34 | -2.2% |
| 2008 | 14.02 | +5.1% |
| 2009 | 14.8 | +5.6% |
| 2010 | 14.37 | -2.9% |
| 2011 | 15.05 | +4.7% |
| 2012 | 19.72 | +31.1% |
| 2013 | 17.31 | -12.2% |
| 2014 | 16.51 | -4.6% |
| 2015 | 16.09 | -2.6% |
| 2016 | 16.56 | +2.9% |
| 2017 | 13.67 | -17.5% |
| 2018 | 13.06 | -4.4% |
| 2019 | 12.44 | -4.7% |
| 2020 | 12 | -3.6% |
| 2021 | 12.08 | +0.7% |
| 2022 | 12.34 | +2.1% |
| 2023 | 13.59 | +10.2% |
| 2024 | 16.59 | +22.1% |
Kenya compared with similar countries
- Kenya's 16.59 is above the median for lower middle income countries, which is 11.63, 1.4× the median. (38 countries reporting)
- Kenya's 16.59 is above the median for Sub-Saharan Africa, which is 14.29, 1.2× the median. (43 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 9.61 | 9 | 10 | 9 |
| 1980s | 14.2 | 10.58 | 17.25 | 10 |
| 1990s | 26.97 | 18.75 | 36.24 | 10 |
| 2000s | 15.82 | 12.53 | 22.34 | 10 |
| 2010s | 15.48 | 12.44 | 19.72 | 10 |
| 2020s | 13.32 | 12 | 16.59 | 5 |
Countries ranked near Kenya
More financial sector data for Kenya
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0.3189 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.2328 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0.3189 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is lending rate, percent per annum in Kenya?
- Lending rate, percent per annum in Kenya was 16.59 in 2024, according to International Monetary Fund.
- What is the highest lending rate, percent per annum recorded in Kenya?
- The highest recorded value was 36.24 in 1994.
- What is the lowest lending rate, percent per annum recorded in Kenya?
- The lowest recorded value was 9 in 1971.
- How does Kenya rank for lending rate, percent per annum?
- Kenya ranks 24th out of 144 countries with data for 2024.
- Is lending rate, percent per annum rising or falling in Kenya?
- Over the last ten years it is up 0.5%. The long-run trend across the full record is rising.
- Where does this Kenya data come from?
- The figures come from International Monetary Fund, published as part of Lending Rate, Percent per annum. Statizoid updates them automatically from the source API.
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About this data
The Monetary and Financial Statistics (MFS), Interest Rates dataset presents country-specific interest rate data across sectors and instruments, based on nationally defined methodologies.