Trans Nzoia people most financially stable in Kenya
Trans Nzoia Governor George Natembeya. Trans Nzoia has the largest population of financially stable individuals able to meet their basic needs and save for the future, a new survey shows, beating Nairobi, Mombasa, Nakuru and Kisumu.
Agriculture-rich Trans Nzoia has the largest population of financially stable individuals able to meet their basic needs and save for the future, a new survey shows, beating Nairobi, Mombasa, Nakuru and Kisumu.
An estimated 37 per cent of adults in Trans Nzoia can invest for old age, afford medicine, and set money aside for the future and emergencies.
This is according to a joint Financial Access (FinAccess) Household survey by the Central Bank of Kenya, Kenya National Bureau of Statistics and FSD Kenya.
In comparison, about 35.3 per cent of adults in Nairobi can meet current and future needs followed by Kiambu (29.9 per cent), Kirinyaga (29.5 per cent), and Kajiado (27.7 per cent).
Trans Nzoia has long been referred to as Kenya’s bread basket characterised by high agricultural activities.
The main crops grown in the county are maize, beans, wheat, tea and potatoes, coffee, and horticultural produce, and activities in dairy farming and fisheries.
Employed
The county in the North Rift region of Kenya has more than a third of the population in agricultural production or is employed.
The report shows 20.7 per cent were involved in agriculture, 14.5 per cent are employed, 17.7 per cent have their own businesses and 28.5 per cent were in casual labour and 18.6 per cent are dependent. Kenya ushered in devolution in 2013 to bridge the uneven distribution of wealth that the centralised system of governance had entrenched.
Tran Nzoia’s rank indicates the contribution of agriculture in the economic well-being of the region, which dropped ahead of Nairobi, Mombasa, Nakuru, and Kisumu – that host larger population of the middle class and are seen with a larger pool of job and investment opportunities.
The report said counties, which had less financially healthy adults include Garissa (2.4 per cent), Tana River (2.5 per cent), Marsabit (3.2 per cent), Kwale (4.9 per cent), and Turkana (6.1 per cent).
The higher financial health in Trans Nzoia is tied to 89.3 per cent population having access to financial products and services and about seven per cent being financially excluded.
It is also among counties with the highest rates of use of pension services and products by county including Lamu, Makueni, and Taita Taveta above the national average of 11 per cent.
Agriculture, which is Kenya’s economic backbone, remains a key driver of growth in most counties except for Nairobi and Mombasa.
