Published on November 1, 2008

Measuring access to financial services in Kenya: Pretesting of concepts


The primary objective of this report was to pre-test some concepts for the FinAccess 2009 survey. The concepts include:

(1) Financial literacy – familiarity with product terminology such as collateral, interest rates, bad debt, mortgage, credit bureau, insurance, life insurance, investment and shares;
(2) Usage of informal groups – reasons why they are formed, why they break up, number of groups joined, frequency of meetings, subscription amounts; ƒ

(3) Well-being and happiness – what causes stress about financial matters, what causes contentment or boredom in life, how one plans for disaster, what qualities in a person are generally respected within a community, how one expresses connectedness and involvement with one’s community, how important is responsibility for other people, or dependency on others for income;

(4) Perceptions of risk – what events would have a catastrophic impact on family, and how would one cope;

ƒ(5) Livelihood – what are the different ways of earning a living, how many different livelihood options can one juggle, do they vary with seasonality; and,

(6) Usage of products – why save, use credit, insurance; what are the reasons for not using these products; why one would use a moneylender and if it is a shameful thing or a practical solution to needing money; how one saves, how long term is the saving horizon, whether for next year or for some point in the next twenty years.”

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