Kenya witnesses 50% increase in financial inclusion in last decade

Finaccess2016Findings of the 2016 FinAccess household survey were presented at an event in Nairobi on 18th February 2016 graced by Zachary Mwangi, Director General of KNBS, Sheila M’Mbijjiwe, Deputy Governor of the CBK  and Lisa Phillips, Head of DFID Kenya . The newly released 2016 survey provides the first ten-year perspective on financial inclusion in Kenya.

The number of Kenyans formally included by the financial system has grown by 50% in the last ten years. Over three-quarters (75.3%) of Kenyans are now formally included, up from 66.8% in 2013. Financial exclusion, which is now down to 17.4%, has more than halved since 2006.

The 2016 FinAccess household survey is the fourth in the series of surveys that measure the drivers and usage of financial services in Kenya. The baseline survey was released in 2006. These results provide the first ever ten-year perspective on the financial inclusion landscape. Download the full 2016 FinAccess