FINACCESS NATIONAL SURVEY 2013

Access strand 2013

What propotion of Kenyan adults use nancial services? Formal Informal Excluded
Access Strand by rural / urban ( % ) Regional comparisons (Exclusion)

25.4% 7.8%
Ghana Rwanda Nigeria Zambia Burundi Tanzania Malawi Mozambique South Africa
27.4
Progression of nancial access overlap: 2006 - 2013 Use of nancial services by year (%)

66.7%

Uganda Kenya

Tracking progress 2006-2013

Expanding nancial inclusion

Namibia

Zimbabwe Botswana

South Africa 19% Kenya 25% Rwanda 28% Uganda 30% Namibia 31% Bostwana 33% Zimbabwe 40% Nigeria 40% Ghana 44% Malawi 55% Tanzania 57% Zambia 63% Burundi 73% Mozambique 77 %

27.

39.3
31.4

2006 2009 2013

Percentage

Accessing financial services The propotion of adult polulation using dierent forms of formal nancial services has risen to 66.7% in 2013 from 41.3% in 2009. The propotion of people relying solely on informal types of nancial services has been steadily decreasing

Financial Access (FinAccess) surveys are conducted by the Financial Access Partnership (FAP) in Kenya. FAP is a public-private partnership (PPP) comprising the Government and its agencies, nancial sector providers, research institutes and development partners established in 2005 to measure the nancial access landscape. FAP set up the FinAccess Secretariat which is charged with the implementation of the survey, comprising Central Bank of Kenya (CBK) and Financial Sector Deepening (FSD) Kenya sta. To date, three successful nationally representative FinAccess surveys have been conducted: in 2006, 2009 and the current 2013.

41.3

33

.3

28.8 37.1 42.9

Use one type of service

46.0 30.2 18.9

Use more than one type of service

25.3 32.7 38.3

Use one type of service

70 60 50 40 30 20 10 0

2006

2009

2013
62 39 30 28 0
Informal group usage MFSP usage

66 .7

29 14% 17 14 9
SACCO usage

28

1.8

3.5
MFI usage

3.5

7.8

25.4

Bank usage

Access strands are based on the most formalised service used by an individual, what we actually see is that people are increasingly using nancial services in combination as a portfolio. Formal Informal Excluded
Population distribution in Kenya (Adults 18+) Gender dimensions (%)

12.5 million Kenyan adults have access to formal nancial services while 1.5 million Kenyan adults have informal nancial services as their most formalised service. A further 4.7 million Kenyan adults are excluded.

Challenges with nancial service providers(%)

2013 24.2 4.7

26.6 62.7 10.8

Loss of money

4.3 7.0

7.9 9.4 11.1 11.8 12.8

16.4
Infomal groups Mobile money MFIs SACCOs Banks

Loss of money Unexpected changes 0 5 10

14.2 16.4 18.9 20

48%

52%
2.5

71.1
Men still have better access to formal services, and inasmuch as we see a substantial shift in formal inclusion for women, more can still be done in enabling women access services such as banks and SACCOs as part of their nancial portfolio. This represents a strong opportunity for industry.

15

Central Bank of Kenya | Haile Selasie Avenue | P.O. Box 60000 - 00200 Nairobi Kenya T +254 (20) 2860000 | E researchstat@centralbank.go.ke | www.centralbank.go.ke FSD Kenya | 5th oor, KMA Centre, Junction of Chyulu Road and Mara Road, Upper Hill. PO Box 11353, 00100 Nairobi, Kenya | T +254 (20) 2923000 C +254 (724) 319706, (735) 319706 | nacess@fsdkenya.org | www.fsdkenya.org

Source: FinAccess National Survey 2013: Proling developments in nancial access and usage in Kenya