Trans Nzoia Ranked County With Most Financial Stable People

A new survey has shown that Trans Nzoia County has the highest population of financially stable people, ahead of Nairobi, Mombasa, Nakuru and Kisumu counties.

The survey dubbed, Financial Access (FinAccess) Household, was conducted by Central Bank of Kenya, Kenya National Bureau of Statistics and FSD Kenya.

It showed that an estimate 37 percent of individuals in Trans Nzoia are able to meet their basic needs and still save for future and emergencies.

This was higher compared to Nairobi, Kiambu, Kirinyaga and Kajiado counties where 35.3 percent, 29.9 percent, 29.5 percent and 27.7 percent of people can meet current and future needs respectively

“Analysis of consumers’ life priorities and financial needs and how financial services are used to meet these needs and support their livelihoods for improved well-being at the county level reveals interesting outcomes about the impact dimension of financial inclusion

“Counties with the highest population that is formally included [financially], recorded the largest proportion of adults that are categorised as financially healthy,” the survey states.

20.7 percent of these individuals in Trans Nzoia were involved in agriculture, 14.5 percent are employed while 17.7 percent have their own businesses.

28.5 percent were in casual labour and 18.6 percent are dependent, the survey showed.

Counties with less financial stable individuals are Garissa (2.4 per cent), Tana River (2.5 per cent), Marsabit (3.2 per cent), Kwale (4.9 per cent) and Turkana (6.1 per cent).

A financially healthy person is one who comfortably manages short-term financial obligations and consumption needs, manages medical emergencies and stays on course to meet long-term investment needs such as buying a home and securing retirement income.

Trans Nzoia was also placed among counties with the highest rates of use of pension services and products by county.

Others on the list include Lamu, Makueni and Taita Taveta.