Page 41 - Issue 48_press_efile

By The Numbers

Market Landscape 66 66

2% 66
66 66
Decline in users of traditional
?inancial services such as

SACCOs, MFIs & banks from
2016-2019

8%

Usage of SACCO 13%-11% SACCOs: Barriers to Access
Accounts
Decrease in SACCOs Affordability=2%
Despite SACCOs being of value in as saving devices in Service quality=11%
providing a more tailored lending Preferences=51%
and savings offer, they are now 2016 to 2019
struggling to expand their user Eligibility=6%
base. The question is why? 66 Compared to other types Knowledge/literacy=0%
of borrowing, SACCO loans Trust=30%
(% of aduts 2016-2019) are most likely to support
larger investments
2019 14%

2016 12%

2013 14%
2009 16%

2006 12%

Uses of SACCO Loans Smartphones and the future of
?inancial inclusion

Basic Personal consumption 45%

Emergency 10%

Large Infrequent Expenses 28% 78% 91%

Agriculture Production or Business 16% Population with access Population with access
to smartphones in Kenya to smartphones in Kenya
Uses of SACCO Savings in 2016 in 2019

Basic Personal consumption 24% 1:2 >4%-34%

Emergency 12% One in every two Smartphone among adult
Large Infrequent Expenses 46% Kenyan Youths own Kenyans increased from less
a smartphone than 4% to 34% between
2009 and 2019.

Agriculture Production or Business 19%

*There are now more Smartphones
than ATM cards.

Source of Data: FinAcess 2019 Graphic Designer: Sharron Makiti

39| SACCO Star Magazine