In a recent report by Business Insider Africa, Sierra Leone has been ranked 8th among the top 10 African countries with the highest interest rates in September.
This list, compiled by the renowned data platform Trading Economics, provides crucial insights into the financial landscapes of African nations.
As of the last day of August, Sierra Leone’s national interest rate stands at 19.25%. This rate, often referred to as the central bank interest rate or benchmark interest rate, is set by the nation’s central bank and wields significant influence over the country’s economic stability, investment decisions, and the well-being of its citizens.
Sierra Leone’s position on this list highlights the diverse range of interest rates across the African continent, driven by variations in economic conditions, monetary policies, and financial market development. Inflation, exchange rates, and external economic factors are some of the key determinants affecting interest rates in the region.
This ranking underscores the importance of monitoring interest rates in Sierra Leone and its impact on the nation’s economic landscape.
Trading Economics continues to provide precise data for 196 nations, aiding investors, policymakers, and the public in making informed financial decisions.
Check out the top 10 African countries with highest interest rates in September and their global rank below:
Rank Country Interest rate Global rank
1. Zimbabwe 150% 1st
2. Ghana 30% 4th
3. Sudan 27.3% 5th
4. Congo 25% 6th
5. Malawi 24% 8th
6. Liberia 20% 10th
7. Egypt 19.25% 12th
8. Sierra Leone 19.25% 13th
9. Nigeria 18.75% 14th
10. Mozambique 17.25% 16th
