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Browsing: Inflation Effects on Kenyan Finances
- TransUnion survey shows four in 10 (41%) of Kenyan consumers reported a decrease in income over the past three months.
- A similar number or 42% of Kenyan consumers anticipate being unable to pay their current bills and loans in full.
- About 55% of Kenyan consumers plan to make further cuts to their discretionary spending. What’s more, 47% expect a decrease in large purchases such as cars.
A new survey by TransUnion has revealed a mixed financial outlook for Kenyan consumers in the second quarter of 2023. The research, presented at its annual Financial Services summit in Nairobi, found that while eight in 10 (79 per cent) expect their household incomes to increase in the coming year, four in 10 (41 per cent) reported a decrease in income over the past three months. A similar number or 42 per cent anticipate being unable to pay their current bills and loans in …