The Governor of the Central Bank of Kenya, Dr. Patrick Njoroge, invited chief executive officers from the financial sector to a breakfast meeting to discuss insights from the FinAccess survey, and the implications of those insights.
The meeting was held on Friday, March 10th at the Kenya School of Monetary Studies.
FSD Kenya CEO, Tamara Cook, presented insights from FinAccess, underlining the paradoxes at the heart of Kenya’s financial inclusion journey Her presentation highlighted:
The disconnect between rising levels of inclusion and declining financial health;
The role of digital finance in supporting resilience in increasingly challenging times; but decline in the use of services which support investment and growth such traditional bank services, SACCOs & chamas
A deep dive into the county data from FinAccess 2021, including the surprises in store we zone in on particular counties- like Taita Taveta
The occasion also marked the launch of a new MSE tracker survey, following the success of the FinAccess Covid-19 MSE Tracker Survey which was conducted between 2020-2021 .
In the event’s keynote speech, Hon. Simon Chelugui, Cabinet Secretary, Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSME) Development, there was an appreciation of how this kind of data forms a critical pillar of policy, providing valuable insights on opportunities and barriers for MSE growth, and helping to monitor activities such as the recently launched Hustler Fund.