Financial inclusion is just the tip of the iceberg. Though a powerful force, it only focuses on access, usage, and quality of financial products and services. There is a need to expand the focus beyond financial inclusion to financial health to ensure that more contact with formal financial services has positive outcomes for the lives of all those included.
This two-part report is about financial inclusion and financial health in Kenya. The first part elaborates on why financial inclusion matters and zooms in on the positive changes that formal financial inclusion has brought to Kenyans. The second part elaborates on why financial health matters, the key challenges Kenyans face in using the available financial services, and recommendations for financial services industry players to boost financial health.