FinAccess 2021: COVID-19 impacts on financial health and resilience
Timely, reliable, quality data plays a critical role in effective policy formulation and innovation to develop a more inclusive financial sector that caters for the needs of different population.
Kenya’s FinAccess Household Survey 2021 is the sixth round of such surveys in the country since the 2006 baseline survey. Kenya initiated these Surveys to enhance financial inclusion measurement and provide reliable data to various stakeholders, improve understanding of the financial inclusion landscape and to track financial inclusion dynamics over time. The 2021 survey is unique in that it was undertaken in the midst of the COVID-19 pandemic and captures household-level data on the effects of the crisis. Furthermore, this survey used an expanded questionnaire to cover all the dimensions of financial inclusion including sustainable finance (green finance) and financial health matrices. These new additions, coupled with continuous tracking of time series variables along the Access, Usage, Quality and Impact dimensions, provide rich information for sector stakeholders, especially policymakers in Kenya.
The survey was conducted and funded by the Central Bank of Kenya (CBK) in collaboration with the Kenya National Bureau of Statistics (KNBS) and Financial Sector Deepening Trust (FSD) Kenya.