When interest rates are low, businesses can borrow money at a relatively low cost, allowing them to expand their operations and hire more workers. Low-interest rates also benefit consumers, as they can access more credit at lower rates, allowing them to make larger purchases and take out larger loans. Furthermore, lower interest rates can also make it easier for people to save money, as they can earn more interest on their deposits. In addition, low-interest rates provide a boost to the housing market, as they make mortgages more affordable. Below are the African countries currently with the lowest interest rates according to Trading Economics, an economics data/research platform.

Source: Daily Nation March 17, 2023 16:11 UTC