Kenya enjoys better financial access compared to neighbouring countries, according to Central Bank of Kenya governor Njuguna Ndung’u.
The percentage of the population living within a 3km distance of a financial access touch point is 58.7% for Kenya, 44.1% for Uganda, 42.7% for Nigeria and 28.3% for Tanzania.
In terms of financial access touch points per 100,000 people, Kenya has 161.7, Uganda 63.1, Tanzania 48.9 and Nigeria 11.4.
Sixty nine per cent of all financial access touch-points are located in areas with the least likelihood of poverty even though only 30% of the population live in those areas.
Kenyans have greater access to mobile phone financial services providers compared to banks. For example, Kenyans living within 3km of a mobile phone money agent is 58.6% or 23.64 million compared to only 21.2% or 8.57 million living near a bank branch.