A recent survey by the Central Bank of Kenya (CBK) has painted a troubling picture of Kenyans’ financial well-being. The Kenya National Financial Inclusion Strategy (NFIS) 2025–2028, released on December 4, shows that despite gains in formal financial inclusion, only two in ten adults are financially healthy.
Financial health is defined as the ability to manage daily needs, absorb unexpected financial shocks, and invest in long-term goals. The CBK used the Multidimensional Financial Health Index (MFHI) to assess households across three areas: daily management, coping with shocks, and investment capacity.
In 2016, 39.4 per cent of adults were considered financially healthy. By 2024, that number had dropped to 18.3 per cent. While the ability to handle daily expenses has improved slightly, the capacity to invest in livelihoods or plan for the future fell sharply from 39.5 per cent in 2021 to 17.1 per cent in 2024.
The NFIS 2025–2028 highlights that financial health must become a central pillar of all inclusion initiatives. Pillar 3 of the strategy focuses on strengthening consumer protection, market conduct, and financial literacy.
To address the decline, the CBK plans to establish a Financial Health Working Group to refine measurement tools, guide policy decisions, and ensure programs reach real-world beneficiaries. Partnerships with global institutions, including the World Bank and Bank for International Settlements, aim to align Kenya’s financial health metrics with international standards.
The report sends a clear message: expanding financial access alone is not enough. Without targeted education and support, most Kenyans will remain financially vulnerable, unable to save, invest, or withstand economic shocks.
 has painted a troubling picture of Kenyans’ financial well-being. The Kenya National Financial Inclusion Strategy (NFIS) 2025–2028, released on December 4, shows that despite gains in formal financial inclusion, only two in ten adults are financially healthy.){kind=link}