Browsing: Financial stress

income streams for kenyans / Kenya's eurobond
  • Income streams for Kenyans have remained constant, against expenditures becoming more inconsistent.
  • Nine out of 10 Kenyan consumers earn less than or the same as before Covid-19.
  • The report further highlights that satisfaction levels with current household income are poor with just one in 10 being satisfied with the exception of higher income earners.

Financial distress with declining income streams for Kenyans

More people are increasingly foregoing important financial services such as insurance, savings, and short-term investments on the back of stagnated income streams.

According to Old Mutual’s inaugural financial services monitor report, a focus on Kenya shows nine out of 10 Kenyan consumers are earning less than or the same as before COVID-19, as the situation prompted financial stress due to less money in their pockets.

This is as expenditure becomes more inconsistent against a consistent income stream, the firm says in part.

Old Mutual Group is a premium