The earning population in Kenya has risen by May 2021 from a low point in June 2020; but median income has gone down reflecting pressure on the wider economy. Check out the latest wave of the FSD Kenya COVID 19 Tracker to find out more…
Through its AfyaPoa range of products, Insurance for All (IFA) has been delivering affordable and relevant protection to underserved Kenyans in the informal sector for over two years. Intending to broaden its reach through new gig economy partnerships and strengthen and improve its products and distribution approaches, IFA, with support from FSD Kenya and research assistance from 17 Triggers, conducted a four-month research and design phase followed by a six-month pilot.
The creative sector sub-sectors such as crafts, design, film/ motion picture, music/sound recording, Kenyan market hosts a vibrant, varied with creatives in multiple performance arts, photography, visual art among others. Creative enterprises play a unique role in building cultural cohesion, expressing cultural identity, as well as being an important source of jobs and export earnings. Creative enterprises in Kenya are primarily informal with little incentive to register their operations.
In May 2017, a special focus in The Economist likened data to the fuel of the future, noting that “data are to this century what oil was to the last one: a driver of growth and change” predicting that the largest conglomerates of the future will be data-driven firms like Google, Tencent, Amazon, and so on, in much the same way the previous century’s oil and manufacturing conglomerates defined the industrial revolution.
Recent technological innovations in Kenya are going far in supporting the growth of Kenya’s affordable housing market, by providing an opportunity to leapfrog the less flexible systems that have dominated housing supply in the past.
In November 2020, FSD Kenya was invited to co-chair a session at the Royal Academy of Engineering’s Frontiers of Development Symposium. The 2020 symposium, bringing together experts and mid-career professionals from sciences and social sciences, debated the question: ‘How can we build resilience in world of shared resources?’. The symposium focused on 3 areas: economic resources, human resources and natural resources. FSD Kenya was asked to co-chair a session on economic resources together with Eka Ikpe of Kings College London.
In Kenya, divergence trends continue with macroeconomic resilience masking sustained inequalities and divergence in recovery. On one hand, inflation remains reasonable; export performance has been relatively strong (especially relative to other African countries); diaspora remittances have been robust; and the mobile money sector has demonstrated sustained resilience and growth.
Rather than a ‘cost’ to the state, social protection is an essential component of any sustainable, national economic growth strategy. Most of the world’s successful economies are significant investors in social protection, with spending across the OECD averaging 12 per cent of GDP.
FSD Kenya implemented a four-year pilot graduation project targeting beneficiaries of the Hunger Safety Net Programme (HSNP) in Laisamis Sub County (Laisamis, Gudas, Logologo, Korr, Merille, Irrir), which provides a bi-monthly cash transfer of Ksh 5,400 (about US$ 54).
Kenya’s credit information sharing (CIS) mechanism has been under development for ten years now since the formal launch in July 2010. Anchored in the Banking Act, the mechanism was primarily
established for institutions licensed under the Banking Act.
The COVID-19 pandemic, termed ‘the Great Disruption’ hit the global economy in 2020 and was defined by divergent impact within and between economies. 2021 is already being defined by multispeed and divergent recovery in the global and local economies.