Business Insider Africa presents 20 African countries with the highest benchmark lending rates.Benchmark lending rates are set by central banks and they determine the cost of loan for borrowers as well as the rate of returns for lenders.Do note that we used World Bank stats to compile this list of 20 African countries with highest benchmark lending rates.If you've been keeping abreast with latest business developments around the African continent, then you are probably aware of the fact that many countries are at risk of debt distress.According to a recent report by the International Monetary Fund (IMF), public debt ratios across Sub-Saharan Africa have risen to a 20-year high. Over the years, many countries borrowed heavily to finance their developmental needs. And now, quite a number of them are struggling to pay back the loans. Some of them are already exposed to debt distress, amid growing concerns of debt sustainability.And there is more to worry about.Focus on Africa's fiscal crisesUnable to service their debts or at least restructure them in order to be able to borrow more, many countries are also grappling with fiscal crises. A good example of such a country is Ghana which recently had to swallow its pride and approach the IMF for help.The fiscal crises across many African countries have been exacerbated by the ongoing war in Ukraine, as well as other internal macroeconomic factors such as high inflation, soaring food and energy costs, etc.Recall that a few months ago, a significant number of African Central banks were forced to hike their benchmark lending interest rates due to the aforementioned macroeconomic challenges. With their Monetary Policy Committee members set to meet again soon, there are already speculations of further rate hikes to come.We shall now focus on 20 African countries with the highest lending interest rates, according to available stats obtained from The World Bank.What is lending interest rate?Investopedia defines lending interest rate as "the cost of debt for the borrower and the rate of return for the lender." In other words, it has to do with how much commercial banks charge borrowers on the amount or principle sum they borrowed.Lending rates are determined by central banks. The higher the rate, the more expensive the cost of loan. And the more expensive the cost of loan, the more borrowers are discouraged from borrowing.Below are 10 African countries with the highest lending interest rates, according to The World BankZimbabwe: Has lending rate of 45.5%Madagascar: Has lending rate of 43.3%Malawi: Has lending rate of 24.2%Democratic Republic of Congo: Has lending rate of 23.1%Uganda: Has lending rate of 19.8%The Gambia: Has lending rate of 19.5%Angola: Has lending rate of 19.4%Sao Tome $ Principe: Has lending rate of 19.1%Sierra Leone: Has lending rate of 18.9%Mozambique: Has lending rate of 18.2%Ghana: Has lending rate of 17%Mauritania: Has lending rate of 17%Tanzania: Has lending rate of 16.7%Rwanda: Has lending rate of 16.2%South Sudan: Has lending rate of 16.1%Nigeria: Has lending rate of 14%Liberia: Has lending rate of 13.3%Guinea: Has lending rate of 12.9%Burundi: Has lending rate of 12.6%Kenya: Has lending rate of 12.2%

20 July 2022 | APA-Cotonou (Bénin)The energy infrastructure is being built in Illoulofin in the commune of Pobè, Plateau department (south-east).Benin is continuing its march towards energy autonomy. After the 125 megawatt Maria-Gléta 2 dual fuel thermal power plant, the country now has its first large-scale solar photovoltaic power plant of 25 MWp. The plant, located in Illoulofin in the commune of Pobè, Plateau department (south-east), aims to contribute to Benin's economic growth by improving the performance of its electricity operators and the quality of the electricity service provided while respecting the environment.At the end of its works launched on 19 November 2020, the energy infrastructure was inaugurated on Tuesday 19 July 2022 by the Minister of Energy, Dona Jean-Claude Houssou, in the presence of the President of the National Assembly, Louis Vlavonou, among other personalities.For the Minister of Energy, Dona Jean-Claude Houssou, the commissioning of this power station shows the ambition, commitment and determination of the Beninese government to boost the energy sector for the happiness of the people.“Nothing will ever be the same again in our country, especially in terms of energy. And all the signs, every day, confirm this inexorable march towards a clean-up, a viability, a reliability of this sector. The vision is definitely clear with an ambition, a commitment and an unfailing determination of President Patrice Talon. We are continuing our march towards energy autonomy,” said Mr. Houssou.With a total cost of 39.7 billion FCFA, the plant consists of 47,212 modules with 113 HUAWEI 185 inverters of the latest generation, 6 transformer stations (PTRs) of 3515 KVA each, a computer-assisted automatic control of the plant, monitoring and anti-intrusion security systems of the latest generation, 2 evacuation lines in 20 kilovolts (HTA) of 25 MWp each over 3 km, from the solar power plant to the CEB substation at Onigbolo.TE/APA