The Central Bank of Kenya in collaboration with Kenya National Bureau of Statistics (KNBS) and Financial Sector Deepening Trust (FSD Kenya) launched the 2024 FinAccess Household Survey topline findings report on December 3, 2024. The report was launched by Hon. CPA John Mbadi, EGH, the Cabinet Secretary for The National Treasury and Economic Planning at Safari Park Hotel Nairobi. Among the key findings are; access to formal financial services and products has risen to 84.8 percent in 2024 from 83.7 percent in 2021; the population excluded from access to any form of financial services and products has reduced to 9.9 percent from 11.6 percent, while reliance on informal access rose to 5.2 percent from 4.7 percent during the period. The key driver of financial inclusion remains mobile money, which has enabled gender parity, with the gap between male and female narrowing to just 1.6 percent in 2024. Areas of improvement included financial literacy, consumer protection, financial health, sustainable green finance, inclusion of youths and inclusion of People With Disability. Read the full report here…
Other information on the 2024 FinAccess Household Survey can be found here…