Only about 2% of bank accounts in Kenya have over 100k. Nimesoma kwa Business Daily. Wueh!!
Na vile watu hukunywa kama pombe inaisha how is this even possible?? This means most families (and single adults) cannot access 100k quickly in case of an emergency bila kusumbua relatives.
That number seems too low. If its true then hapo ni tricky sana.
Watu wako na mattress account. Huyo ameibiwa 104m utapata ako na 5k kwa bank
Bado wanataka kuenda Alchemist 
And less than 400k kenyans wakona $10000 Kwa account.
The problem is that a few Kenyans have billions and million others are paupers and live hand to mouth… JM Kariuki said before they kwinished him…
Kenya is not peculiar. Wealth gap the world over is then same. Angalia stats za US on the same parameters. People are broke out here.
Wewe mwenyewe hauna hata 100K sijui nini unashtuka.
People who put money in the bank as opposed to investing it in profit making ventures have no idea how the financial system works plus don’t believe everything you read
hat do you mean? If less than 100k have less than 100k in the bank, isn’t it obvious that 400k have less than100k, not even Shs. 1.1m that you have quoted?
The number with 100k in possession are so many, only that they don’t use banks. You’ll never see a woria accepting bank transactions, no matter how much he’s transacting. My guy had a mradi with a guy(I suspect he’s a fraud) who owns about 7 plots within Nairobi, carries 2M in cash for shopping, but has nothing in his bank accs.
To make it miserable that is equivalent to $830 at the current exchange rate of 120.
Wacha ujinga. Kwani rent hulipiwa wapi?
Woriahe hu deal na cash 99.9% of the time
Nilisema kwa mtu ako na family kukosa $10k kwa account is living on the edge watu wakanitusi sana hapa.
Just one family emergency jamaa anaita harambee
This statement further proves how shallow-minded you are. With liquid assets such as shares, you can have access to emergency money very fast. Having less money in the bank doesn’t necessarily mean one is a pauper.
Siku hizi tunahold gold. Gold the government cannot print it. Fiat currency is a scam.
You should have both shares and liquid cash. Hii yako ni peasant proverbs. Why are you assuming that hiyo 1M kwa bank is the only asset you have?? Scarcity mindset at its best.
Asset allocation is a personal decision. Hii siwezi ingilia. I prefer to be cash underweight. If you are holding a stable currency, I can understand why you’d want to be cash overweight. But to be cash overweight in Kenya Shillings is in my opinion madness.
And just so you know. No bank in Kenya will give you an attractive interest rate in a stable currency. If you open a dollar or euro account in Kenya,the absolute highest interest you’d expect to get is 0.5 % and that’s if you have an amount that’s high enough for the bank to offer you interest.
@Azor Ahai is financially illiterate, if you are even considering taking any financial advice from him, good luck.
Press iko Kwa Sacco’s and recently more people are going into unit trusts
Then very few kenyans should be in that union which is not the case.
Emergency gani hio ya kumumunya one million kama sio cancer?
Job loss is the main one or being unable to work. Na by that nameinclude biashara kuanguka. Halafu pia ujue most people take care of their family and their aging parents. Imagine having say 3 children and two aging parents. Halafu tuseme wewe ni some mid-level manager somewhere. Suddenly 1M looks like peanuts. Na watu huambiwa wakuwe na 6 months savings. Obviously, most people are peasants so at their current lifestyle wanaona kama 1M ni pesa mingi during an emergency. Kumbuka the emergency fund is meant to cushion you so that you can survive for a few months without downgrading your lifestyle before you figure things out.