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January 2020

Financially underserved Kenyans and their market potential: A segmentation study

This segmentation study identifies Kenyans whose financial needs are not adequately met by the solutions available in the financial market, as well as the untapped opportunities they offer to financial service providers. The study was conducted by FSD Kenya and the Consultative Group to Assist the Poor (CGAP), using data from FinAccess 2019. Overview Over the past two decades, […]

Publications -
December 2019

Cost of Banking 2018

This report is the second in a series of studies that measure the cost of banking services in Kenya. It follows the first report that was released in 2017 and constitutes a complementary element in the measurement of the financial inclusion landscape in Kenya. Over the last decade, Kenya has witnessed a remarkable expansion in […]

Publications -
December 2019

Financing Kenya: 2020 hindsight for Vision 2030

Kenya has been feted around the world for its achievements in advancing financial inclusion. And the speed at which access to the formal financial system has advanced has certainly been exceptional. The development of a near ubiquitous mobile phone-based payments system provided the foundations for a further round of fintech innovation. Nairobi has become the […]

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December 2019

Exploring the links between finance, technology and growth in Kenya

Starting with microcredit in the late 1980s, there has been a growing movement of multilateral institutions, private foundations, non-profits, corporations and governments that aims to provide formal financial services to low-income market segments around the world. This movement is largely motivated by the conviction that access to financial services reduces poverty. Over time, the focus […]

Publications -
December 2019

Focus Note: Digital Credit in Kenya

Since the launch of M-Shwari in 2012, the number of digital lenders and loans disbursed has grown substantially. Advances in credit scoring, few regulatory barriers and the widespread use of mobile phones and mobile money have enabled growth of the digital lending industry, giving borrowers a quick and convenient option for credit. However, industry practices […]

Publications -
November 2019

Digital credit audit report: Evaluating the conduct and practice of digital lending in Kenya

Digital credit has been instrumental in granting formal credit in ways that were not conceivable a decade ago. It has provided individuals with the tools to manage their day-to-day needs and working capital for small enterprises. Survey data reveals that over six million Kenyans have borrowed at least one digital loan. Beyond these daily use-cases, […]

Publications -
September 2019

Did you see my tweet? Monitoring financial consumer protection via social media

In Kenya, the “#KOT” or “Kenyans on Twitter” community has become an important channel for public discourse on a wide range of topics. This includes financial services. The ability for consumers to directly, instantly, and publicly praise or chastise the service of a firm has led to increased accountability and new ways to remotely resolve customer issues swiftly.

Publications -
April 2019

The 2019 FinAccess household survey

The 2019 FinAccess household survey is the fifth in a series of surveys that measure drivers and usage of financial services in Kenya. The 2019 report was officially launched on April 3rd 2019. The four previous surveys of 2006, 2009, 2013 and 2016 have shown that Kenya has made significant progress in fostering financial inclusion, with the latest survey providing a […]