Nakuru, West Pokot, and Nyandarua counties have the highest rates of gambling in Kenya, a FinAccess Household Survey has revealed.
At 26, 25, and 23 percent, respectively, the three counties are sitting above the 11 percent national average.
Even so, the report shows Nakuru has the highest financial literacy levels, at 67 percent, as measured by respondents’ ability to calculate the cost of interest on a loan.
The survey was funded by the Central Bank of Kenya (CBK), Kenya National Bureau of Statistics (KNBS) and Financial Sector Deepening Kenya (FSD Kenya).
It provided county analysis along the four dimensions of formal financial inclusion (access, usage, quality, and impact), there is a correlation between the level of economic activity, population density, and urbanization.
“Counties of Nairobi, Nyeri, Kirinyaga, Murang’a and Kiambu were the only ones with adult population included in the formal financial services, with rates above 90 percent. On the lower end of the pyramid, are West Pokot, Turkana, Garissa and Narok Counties, with inclusion rates of below 61 percent, compared to the national average of 84 percent,” the report reads in part.
According to the report, Nairobi, Mombasa, Kiambu, and Kisumu have the highest levels of bank service utilization, while Garissa, Tana River, and Marsabit have less regularity and frequency of use.
“Compared to other counties, Machakos county reported the highest usage of Insurance services (mainly driven by National Hospital Insurance Fund) rate of 51 percent, twice the reported national average of 25 percent,” reads the report in part.
On the other hand, Marsabit, Garissa and Samburu Counties recorded the highest level of debt distress proxied by default rates of 74 percent, 59 percent, and 58 percent among adult population, respectively.
“This may be explained by the climate-related shock of drought facing these counties that has reduced the ability of borrowers to repay their loans,” the report reads.
Busia, Nandi, and Siaya had the lowest incidence of reported loan defaults, each recording less than 5 percent.
The report also discusses microfinance, capital markets, mobile banking, SACCO use of services and products, and other financial solutions.
The report further provides indicators on the usage of informal solutions such as Chamas at the county level.
Join our community and solve the Puzzling fun with our range of crosswords
We are building some fun puzzles to put your problem-solving skills to the test and we want you to have a blast while you're at it!
Share your email and we’ll serve up new puzzles with your morning coffee.
Do you want to help shape the features we prioritize? Take a Survey to help us understand what matters to you most
Begin SurveyAM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.
Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.
This is Daily Politics. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.
Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.
Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.
Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.
Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.
Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.
Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.
Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.
A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.
The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.
This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.
This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.
In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.
Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.
