November 1st, 2008

The primary objective of this report was to pre-test some concepts for the FinAccess 2009 survey. The concepts include:

(1) Financial literacy – familiarity with product terminology such as collateral, interest rates, bad debt, mortgage, credit bureau, insurance, life insurance, investment and shares;

(2) Usage of informal groups – reasons why they are formed, why they break up, number of groups joined, frequency of meetings, subscription amounts;

(3) Well-being and happiness – what causes stress about financial matters, what causes contentment or boredom in life, how one plans for disaster, what qualities in a person are generally respected within a community, how one expresses connectedness and involvement with one’s community, how important is responsibility for other people, or dependency on others for income;

(4) Perceptions of risk – what events would have a catastrophic impact on family, and how would one cope;

(5) Livelihood – what are the different ways of earning a living, how many different livelihood options can one juggle, do they vary with seasonality; and,

(6) Usage of products – why save, use credit, insurance; what are the reasons for not using these products; why one would use a moneylender and if it is a shameful thing or a practical solution to needing money; how one saves, how long term is the saving horizon, whether for next year or for some point in the next twenty years.”

CITATION

Odera, A. R. (2008). Measuring access to financial services in Kenya: Pretesting of concepts. Nairobi, Kenya: FSD Kenya.

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