Kiambu County has emerged as a national leader in formal financial inclusion, with 94 percent of residents and businesses having access to banking, savings, credit, insurance, and other financial services, according to the 2024 FinAccess household survey. This marks a 2.2 percentage point increase from 91.8 percent in 2021, reflecting a steady rise in access to affordable and sustainable financial products. The growth is largely attributed to the widespread adoption of mobile money, with 82 percent of adults using digital services to manage transactions, save, and access credit.
The survey attributes Kiambu’s top performance to a combination of high literacy levels, better-informed populations, greater income levels, and broader access to financial services. Local business owners, like James Karimi, a food vendor in Kiambu town, have benefited significantly from the financial ecosystem, using mobile money, SACCOs, and chamas to grow their businesses. Having access to multiple financial tools has allowed me to expand my business and pursue other ventures, Karimi noted, highlighting the practical impact of financial inclusion on everyday livelihoods.
Despite the county’s success, the survey noted a persistent rural-urban divide across Kenya. Rural residents rely more on informal groups such as chamas (32.3 percent) than SACCOs (24.2 percent), while urban populations favor SACCOs at 35.4 percent compared to 28.5 percent for informal groups. These differences reflect varying social support networks and accessibility to formal financial services. The FinAccess Survey remains a key source of data for policymakers and development partners, guiding strategies to enhance financial access, drive economic growth, and reduce inequality across counties.