Access to financial services and products in Kenya 2006-2021

Nearly 84 percent of households in Kenya had access to formal financial services and products in 2021. Other five percent accessed financial services through informal and non-regulated channels, such as moneylenders and shopkeepers. This represented a big leap from 2006 when only around 57 percent had access to financial services, of which 32.1 percent was reported to be informal. Moreover, a stable dip in the financially excluded population was registered, getting as low as 11 percent in 2021 compared to 41.3 percent in 2006. According to the source, the increase in financial inclusion in Kenya could be associated with the introduction of mobile financial services.