The Central Bank of Kenya (CBK) is asking Kenyans to share their financial needs as part of the 2024 FinAccess Household Survey, which CBK announced on Monday, July 15.
CBK emphasized that the survey aims to help them understand the financial needs of Kenyans and determine how to enhance financial services. The survey will be conducted in collaboration with the Kenya National Bureau of Statistics (KNBS), Financial Sector Deepening Kenya (FSD Kenya), and other stakeholders.
This marks the seventh Financial Access Household Survey conducted by these institutions.
The primary objectives of this survey are to measure and understand the financial needs of Kenyans, their use of financial services and products, and identify ways to improve financial services to better meet their needs. The data collected will be instrumental for both the private and public sectors in policy formulation and developing an inclusive financial market.
Additionally, CBK noted that the information gathered will inform decisions made in the Kenya Vision 2030 Medium Term Plans.
“FinAccess data is widely used by both the public and private sectors to guide policy formulation and develop and improve delivery channels and products, thereby building inclusive financial markets,” stated CBK.
Confidentiality
CBK assured that all information collected will remain confidential and will not be published for public access. To ensure the successful implementation of the survey, CBK has requested the National and County Governments, Ministries, Departments and Agencies, Non-Governmental Organizations, and the general public to support the survey personnel.
KNBS Research Assistants, who will wear official identification badges, will collect the data. The exercise will run from July to November of this year in all 47 counties.
CBK emphasized that information obtained from each respondent will be confidential and will not be published or disclosed in any form to the public. The institution also highlighted that previous FinAccess Household Surveys were conducted in 2006, 2009, 2013, 2016, 2018, and 2021.
“The Survey findings have been used to inform policy formulation in the Kenya Vision 2030 Medium Term Plans,” noted CBK.
Here’s a statement from the CBK.
