In October 2020, an increase in the interest rate was noted, as revealed by the survey on banking conditions.
According to BCEAO data, the average rate calculated at the Union level stood at 6.69% in October 2020, after a level of 6.50% in September 2020, i.e. an increase of 19.4 basis points (gdp), after a fall the previous month (-36.8 dbp).
Depending on the nature of the debtor, interest rates are rising in terms of assistance granted to financial customers, insurance and pension funds, as well as to companies in the productive sector.
The fall in the cost of credit noted at the level of individual enterprises and village cooperatives and groups moderated the trend.
This study indicates that the increase in borrowing rates is localized at the level of cash and consumer credits, attenuated by the fall in the cost of export, housing and equipment advances