News
Posted on February 18, 2016

Kenya witnesses 50% increase in financial inclusion in last decade

Newly released 2016 FinAccess survey provides the first ten-year perspective on financial inclusion in Kenya

Findings of the 2016 FinAccess household survey were presented at an event in Nairobi on 18th February 2016 graced by Sheila M’Mbijjiwe, Deputy Governor of the CBK, Lisa Phillips, Head of DFID Kenya and Zachary Mwangi, Director General of KNBS. 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 press release here.

You might also like

FinAccess National Survey 2013: Profiling developments in financial access and usage in Kenya

Driving change through technology: The Postbank example

Major growth highlights from the 2015 FinAccess geospatial mapping survey

Do central banks have a role in financial inclusion?

FSD Kenya: Ten years of a market systems approach in the Kenyan finance market

Making finance serve the needs of the economy