Kenya sees a reduction in use of bank services

DO NOT USE central-bank-of-kenya-night
Nearly half the population uses mobile services daily

Mobile financial services are used more frequently than banks and credit society services in Kenya, a study published by the central bank has found.

The FinAccess survey report, released February 19, showed visits to banks and credit institutions have fallen to around once a month, on average.

People surveyed said the main reason they had stopped using their bank accounts was "loss of income source". "Banks are simply used to receive salaries and other livelihood related payments and are not

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.