Empty wallet

Household debt has been worsened by the Covid-19 pandemic, which has accelerated unemployment rates.

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Kenyans sink deeper into household debt as tough times bite

What you need to know:

  • CBK data shows that of the 11.42 million bank account holders who accessed loans last year, 95.34 per cent used the money for personal expenses. 
  • Increased borrowing has also been fuelled by rapid population growth and an increase in the number of banks, branches and adoption of mobile banking.


Mr Frederick Ndung’u is a casual worker in the populous Githurai estate in Kiambu County. 
He earns a commission for every loaf of bread he supplies, but the income is so inconsistent that he has to constantly find creative ways to put food on the table, pay rent and support his siblings. 

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