Credit types: Where do you borrow cash from
Kenyans are still borrowing to sustain their livelihoods.
1mon agoWILLIAM WANYOIKEInfographics
The 2024 FinAccess Household Survey reveals that the Hustler Fund leads as the most common source of credit for Kenyans, with 28.9% borrowing from the government-backed initiative.
Shopkeepers rank second, providing credit to 25.0% of borrowers, while Fuliza, Safaricom’s overdraft service, accounts for 18.4%.
Family and friends remain a significant borrowing source at 15.7%. Mobile banking loans are used by 9.2%, while chamas offer credit to 8.5% of respondents.
The “Buy Now Pay Later” option is gaining traction, accounting for 6.2% of borrowing.
The report indicates a strong credit uptake, driven by the Hustler Fund and emerging digital credit solutions, highlighting a shift toward more accessible, flexible borrowing methods.
