This report seeks to provide an initial lens on the current state of financial capability in Kenya. Using existing data collected as part of FinAccess 2009, the report explores various dimensions of financial capability specifically developed to reflect ground realities that Kenyans face in their financial lives. For example, in a developed country context, a financially capable person would have home, care and life insurance to deal with risks. But in an environment where consumers have a long list of simultaneous risks but few insurance products with which to manage them, a financially capable person would be better defined as having a clear, self-defined strategy, backed by enough saving and borrowing resources, to manage their vulnerabilities.
Collins, D., Zollman, J., & Maina, B. (2009). Financial capability in Kenya. Nairobi, Kenya: FSD Kenya.