Countries With the Highest Interest Rates in Africa

This infographic highlights the African countries with the highest benchmark interest rates as of March–April 2025. At the top is Zimbabwe with a massive 35%, followed by Ghana (28%), Nigeria (27.5%), and others like Malawi, Egypt, and Sierra Leone—all exceeding 24%.

High interest rates in these nations are not just monetary policy choices; they reflect deeper structural challenges such as currency depreciation, inflationary pressures, external debt burdens, and limited investor confidence. Central banks across the continent are using high rates in an attempt to stabilize their economies, fight inflation, and maintain the value of local currencies. But these measures often come at the cost of economic growth, access to credit, and business expansion.

This visual snapshot serves as a reminder of the complex balance many African economies must strike between managing inflation and fostering growth in a globally volatile financial environment.