Indicator 8.10.2 Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

8.10: Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

8.10.2: Proportion of adults (18 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider.

2024

Kenya National Bureau of Statistics

Kenya National Bureau of Statistics

Director Macroeconomic statistics

Directorate of Macroeconomic Statistics

Production and dissemination of Macroeconomic statistics

+254-202-911-000

30266-00100, Nairobi- Kenya

directormacro@knbs.or.ke

DEFINITION, CONCEPTS, AND CLASSIFICATIONS

The percentage of adults (ages 18+ who report having an account (by themselves or together with someone else) at a bank or another type of financial institution or personally using a mobile money service in the past 12 months.

Concepts:

Financial institution accounts (excluding mobile money) denote the percentage of respondents who report having an account (by themselves or together with someone else) at a bank, credit union, microfinance institution, or post office that falls under prudential regulation by a government body.

Data on adults with a financial institution account include respondents who reported having an account at a bank or at another type of financial institution, such as a credit union, a microfinance institution, a cooperative, or the post office (if applicable). The data also include an additional 3 percent of respondents in 2021 who reported receiving wages, government transfers, a public sector pension, or payments for agricultural products into a financial institution account in the past year; paying utility bills or school fees from a financial institution account in the past year; or receiving wages, government transfers, or agricultural payments into a card in the past year. The definition does not include non-bank financial institutions such as pension funds, retirement accounts, insurance companies, or equity holdings such as stocks.

Mobile money accounts denote the percentage of respondents who report personally using a mobile money service to make payments, buy things, or to send or receive money in the past year.

Percent Individuals

None

DATA SOURCE, TYPE AND DATA COLLECTION METHOD

Finaccess Surveys

Surveys

Annual – Every 2-3 years

April 2024

Individuals

Kenya National Bureau of Statistics

According to the Statistics Act of 2006, Kenya National Bureau of Statistics is mandated to collect, compile, analyze, publish and disseminate official statistics for public use

Financial inclusion means that households have access to and can effectively use appropriate financial services that are provided responsibly and sustainably in a well-regulated environment. Studies show that when people participate in the financial system, they are better able to start and expand businesses, invest in education, manage risk and absorb financial shocks. Measurement is key to understanding financial inclusion and identifying opportunities to remove barriers that may be preventing people from using financial services.

This demand-side data collects information on the percent of adults who think of themselves as ‘banked’ and having access to an account. The database complements but does replace existing supply-side data and other household surveys.

The indicator is based on data collected through individual level surveys in Kenya with representative samples. Data weighting is used to ensure a nationally representative sample. Final weights consist of the base sampling weight, which corrects for unequal probability of selection based on household size, and the poststratification weight, which corrects for sampling and nonresponse error. Poststratification weights use economy-level population statistics on gender and age and, where reliable data are available, education or socioeconomic status. Regional population weights are used to calculate regional aggregates.

Engaging stake holders and administrative data providers such as:

The Bureau employed use of best standards and compilation guides when coming up with the reports

The Kenya National Bureau of Statistics is ISO certified based on 9001:2015 Standard requirements. The processes of compilation, production, publication and dissemination of data, including quality control, are carried out following the methodological framework and standards established by the KNBS, in compliance with the Internationally acceptable standards

The KNBS adheres to Kenya Statistical Quality Assurance Framework (KesQAF) that underlines principles to be assured in managing the statistical production processes and output.

Data consistency and quality checks are conducted through Technical Working Groups (TWGs) before publication and dissemination.

The processes of compilation, production, publication and dissemination of data, including quality control are subjected to a set criteria and standards to ensure conformity.

Time series:

Triennial (2016, 2019 and 2021)

None

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