Kenya leads African peers in financial access

Monday, March 17, 2014

Kenya: Kenya has taken a great leap forward to enjoy better financial access compared to her peers in the continent. The country claims the second highest level of financial inclusion only after South Africa. Kenya’s percentage of the population who use more than one financial service has also increased significantly, from 19 per cent in 2006 to 46 percent in 2013 according to the FinAccess 2013 survey. The study indicates that the percentage of the population living within a 3-km distance of a financial access touch point is 58.7 per cent in Kenya. This is at a time when in Uganda it is at only 44.1 per cent, 42.7 per cent for Nigeria and 28.3 per cent for Tanzania.

Source: Standard Digital (link opens in a new window)

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banking, financial inclusion