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.
Our work on the Kenya Financial Diaries made it painfully clear to us that school fees are incredibly expensive for low income families. The lowest end public schools often ask about KSh 20,000 per year for a single student, when rural household incomes often average around KSh 6,000 per month.
As we trudged through Kivani Secondary School’s third term student attendance records, one absenteeism after another greeted us. Per our analysis in preparation for Focus Group Discussions (FGDs) with selected parents and guardians at the school, the average student missed about 13% of class time. I didn’t give it much thought then.