This archive report was first published on 29 November 2019.
Published on November 29, 2019, a global survey has shed light on the Kenyan perspective on wealth.
According to the Financial Prosperity Barometer, 31 percent of Kenyans polled view having enough savings for the future as a top sign of prosperity. This is followed by being able to afford what one wants in life (28 percent) and guaranteed good health for family and friends (28 percent).
The survey, conducted by PayU, the fintech and e-payments division of Prosus, found that only 35 percent of Kenyans who participated think a well-paying job can help them accumulate adequate savings for the future and support their family and friends to lead a healthy life.
Interestingly, the survey revealed that for a Kenyan to be considered prosperous, one must be able to provide the best education for their children (46 percent), be healthy (45 percent), be wealthy (38 percent), have a loving family (37 percent), and a secure job (35 percent).
When asked about the current financial state of their households, 33 percent of Kenyans said they were comfortable, 46 percent said they were coping, while 24 percent said they were struggling. In contrast, 41 percent of their Nigerian counterparts said they were comfortable, 39 percent were coping, and only 19 percent said they were struggling.
The survey also found that about 92 percent of Kenyans believe that increased access to financial services can help people plan for their future prosperity, with 77 percent of them saying the more they access financial services, the higher their chances of being prosperous.
