African credit markets are severely affected by information asymmetries that influence the distribution of financing. Banks and microfinance institutions often have limited and fragmented data on borrowers' financial history and creditworthiness, leading them to increase collateral requirements and charge high interest rates. According to the African Development Bank, average interest rates charged by commercial banks on loans to SMEs reach 18 to 20 percent in several West African countries, while they do not exceed 3 percent in advanced economies. This difference reflects the perception of high risk and the lack of reliable information.

Small businesses and those operating in the informal sector are particularly disadvantaged, as they often lack a banking history or sufficient collateral. The International Monetary Fund's 2025 report on sub-Saharan Africa shows that nearly 60% of SMEs report difficulties obtaining bank financing, limiting their investment and growth capacity. These constraints slow job creation and hinder economic transformation in strategic sectors such as agribusiness, services, and digital technologies.

Regulators and central banks are seeking to address this situation by developing centralized credit registries and scoring systems tailored to local realities. Initiatives such as the BCEAO's regional credit registry project help improve transparency and reduce perceived risks for lenders. Promoting financial inclusion through mobile services and developing products adapted to SMEs also contribute to expanding access to credit.

Despite these efforts, information asymmetries remain a key factor shaping borrowing conditions. They continue to influence prudential policy, direct risk pricing, and determine access to finance for African businesses. More effective information management and the adoption of appropriate financial technologies remain essential to strengthening credit availability and supporting sustainable economic development on the continent.