“When interest rates go up, people feel it not in the bank, but in their kitchen.” Says Nafisah Bello, Development Economist, Dakar.
In Lagos, the rising cost of staple foods like beans and Agege bread has forced many families to change their diet. In Harare, small businesses fold under the weight of loan repayments. In Accra, young men crowd forex kiosks, trying to exchange cedis for dollars before prices jump again. This is the unseen face of Africa’s interest rate surge.
As of early 2025, Africa is fighting a quiet war against inflatio
