Grant Kenyans access to medical insurance

Kenya has made significant strides in deepening financial inclusion since 2007, the year mobile money and innovative banking models targeting small-balance depositors were introduced into the country’s financial markets.

Thanks to this amazing revolution, which has been fueled by increased smartphone and internet affordability over the past decade, 83 per cent of the adult population in Kenya today has access to formal financial solutions. This is according to a recent study by FSD Kenya, which contrasts today’s rate of access with 2006 when only 26 per cent of Kenyans had access. Access to formal credit and savings schemes was basically a pipe dream at the time for the common Kenyan. The mama mboga, the estate shopkeeper and the local butcher couldn’t easily get a loan or invest in a government bond.