According to a most recent survey on the access to financial services in Kenya, FinAccess Study, whose findings were launched in January 2007, only 19% of Kenyans have access to formal financial services through commercial banks and Postbank. An additional 8% of Kenyans are served by SACCOs and MFIs, while 35% depend primarily on informal financial services such as ROSCAs and ASCAS.
This brings to about 62% the population that is “financially included” meaning that they have access financial services and products either from formal, semi-formal or informal financial service providers. On the other hand, 38% of Kenyans, classified as “financially excluded”, have no access to financial services and products. This implies that more effort is required to improve access to financial services and products.