Across Africa, central banks are walking a tightrope between curbing inflation and stimulating growth, with policy rates revealing just how costly it remains to borrow on the continent.

From Zimbabwe’s punishing 35% benchmark rate to Liberia’s relatively moderate 16.25%, borrowing conditions mirror each country’s economic fragility in 2025.

The varying monetary stances reflect local battles against inflation, currency depreciation, and fiscal strain.

Together, they paint a clear picture of Africa’s uneven progress toward price stability and credit accessibility.

Below are the African countries where it is most expensive to borrow money.