Real interest rate in Kenya
Kenya: Real interest rate was 13.0% in 2024. ◆ Volatile
Real interest rate in Kenya, 1971–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
The most recent figure for real interest rate in Kenya is 13.0%, measured in 2024.
That represents a change of up 67.9% on the previous year and up 57.8% over ten years.
Over the whole period, real interest rate in Kenya peaked at 21.1% in 1998 and was at its lowest, -10.1%, in 2009.
Kenya ranks 15th of 149 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Real interest rate in Kenya, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 20.1% | — |
| 1972 | 7.7% | -61.6% |
| 1973 | -1.1% | -114.2% |
| 1974 | -5.6% | +416.6% |
| 1975 | -1.6% | -70.9% |
| 1976 | -7.5% | +356.5% |
| 1977 | -5.9% | -21.2% |
| 1978 | 6.7% | -213.7% |
| 1979 | 4.1% | -38.5% |
| 1980 | 0.9% | -77.2% |
| 1981 | 1.4% | +49.6% |
| 1982 | 2.6% | +84.7% |
| 1983 | 3.6% | +37.1% |
| 1984 | 3.8% | +7.4% |
| 1985 | 5.3% | +37.1% |
| 1986 | 4.9% | -7.5% |
| 1987 | 8.2% | +67.7% |
| 1988 | 8.0% | -1.6% |
| 1989 | 6.8% | -15.1% |
| 1990 | 7.3% | +7.6% |
| 1991 | 5.7% | -21.6% |
| 1992 | 1.8% | -68.2% |
| 1993 | 3.4% | +87.0% |
| 1994 | 16.4% | +381.3% |
| 1995 | 15.8% | -3.8% |
| 1996 | -5.8% | -136.6% |
| 1997 | 16.9% | -392.2% |
| 1998 | 21.1% | +25.0% |
| 1999 | 17.5% | -17.3% |
| 2000 | 15.3% | -12.2% |
| 2001 | 17.8% | +16.2% |
| 2002 | 17.4% | -2.6% |
| 2003 | 9.8% | -43.7% |
| 2004 | 5.0% | -48.4% |
| 2005 | 7.6% | +50.8% |
| 2006 | -8.0% | -205.3% |
| 2007 | 4.8% | -160.2% |
| 2008 | -1.0% | -120.4% |
| 2009 | -10.1% | +925.0% |
| 2010 | 12.5% | -224.1% |
| 2011 | 4.5% | -63.9% |
| 2012 | 9.3% | +105.8% |
| 2013 | 9.3% | -0.2% |
| 2014 | 8.2% | -11.2% |
| 2015 | 6.3% | -24.0% |
| 2016 | 10.1% | +61.4% |
| 2017 | 5.7% | -44.1% |
| 2018 | 8.5% | +50.1% |
| 2019 | 7.8% | -7.7% |
| 2020 | 6.7% | -14.3% |
| 2021 | 7.4% | +10.6% |
| 2022 | 5.0% | -32.3% |
| 2023 | 7.8% | +54.2% |
| 2024 | 13.0% | +67.9% |
Kenya compared with similar countries
- Kenya's 13.0% is above the median for lower middle income countries, which is 5.2%, 2.5× the median. (38 countries reporting)
- Kenya's 13.0% is above the median for Sub-Saharan Africa, which is 4.9%, 2.6× the median. (39 countries reporting)
Biggest year-on-year movements
Years where Real interest rate in Kenya 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 |
|---|---|---|---|
| 2009 | -925.0% | -1.0% | -10.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.9% | -7.5% | 20.1% | 9 |
| 1980s | 4.5% | 0.9% | 8.2% | 10 |
| 1990s | 10.0% | -5.8% | 21.1% | 10 |
| 2000s | 5.9% | -10.1% | 17.8% | 10 |
| 2010s | 8.2% | 4.5% | 12.5% | 10 |
| 2020s | 8.0% | 5.0% | 13.0% | 5 |
Countries ranked near Kenya
- 12 Uganda 14.7% compare
- 13 Azerbaijan 14.7% compare
- 14 Gambia 13.1% compare
- 16 Kyrgyzstan 12.6% compare
- 17 Laos 12.3% compare
- 18 Afghanistan 12.1% compare
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 real interest rate in Kenya?
- Real interest rate in Kenya was 13.0% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest real interest rate recorded in Kenya?
- The highest recorded value was 21.1% in 1998.
- What is the lowest real interest rate recorded in Kenya?
- The lowest recorded value was -10.1% in 2009.
- How does Kenya rank for real interest rate?
- Kenya ranks 15th out of 149 countries with data for 2024.
- Is real interest rate rising or falling in Kenya?
- Over the last ten years it is up 57.8%. The long-run trend across the full record is volatile.
- Where does this Kenya data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Real interest rate (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
An interest rate is the amount charged, expressed as a percentage of the principal over a period of time, by the owners of certain kinds of financial assets for putting the financial assets at the disposal of another institutional unit. The real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.