Share of people financing Ramadan with credit in Africa 2022 by country

In 2022, a survey conducted in the selected African countries found that an average of 13 percent of people would pay for their Ramadan expenses with either credit or a loan. The country with the highest rate of respondents who claimed they would finance their Ramadan celebrations this way was Nigeria, with approximately 20 percent. Furthermore, the use of loans and credit card issuance usually increases during this month due to increased consumer spending.