Formal Borrowing Statistics in Kenya (2026)
In 2024, 12.6% of adults in Kenya borrowed from a formal financial institution, according to World Bank Global Findex data. Down from 22.2% in 2021 to 12.6% in 2024 (−9.6 percentage points). Kenya ranks #5 of 36 economies in Sub-Saharan Africa on this measure, and #82 of 142 globally.
Key Statistics
- Latest value (2024)
- 12.6% (2024)
- Formal Borrowing in Kenya as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- −9.6 pp (2024)
- Down from 22.2% in 2021 to 12.6% in 2024 (−9.6 percentage points).
- Earliest value in this dataset (2014)
- 16% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 16% in 2014 to 12.6% in 2024.
- Peak value (2021)
- 22.2% (2021)
- Highest value in the available series; the 2024 value is 12.6%.
- Rank in Sub-Saharan Africa
- #5 of 36 (2024)
- Kenya ranks 5 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #82 of 142 (2024)
- Kenya ranks 82 of 142 countries with data globally.
- Sub-Saharan Africa average
- 7.8% (2024)
- Kenya (12.6%) is above the average of 7.8% across the 36 countries in Sub-Saharan Africa with data.
- Among women (2024)
- 8.8% (2024)
- Value for women in Kenya, same 2024 World Bank Global Findex data.
- Among men (2024)
- 16.7% (2024)
- Value for men in Kenya, same 2024 World Bank Global Findex data.
- Gender gap (women minus men)
- −7.9 pp (2024)
- In 2024, the figure was 8.8% for women and 16.7% for men — 7.9 percentage points lower among women.
- Among the poorest 40% (2024)
- 7.8% (2024)
- Value for adults in the poorest 40% of households in Kenya in 2024.
- Poorest-40% gap vs national
- −4.9 pp (2024)
- The poorest 40% (7.8%) are 4.9 percentage points below the national figure (12.6%).
- Internet use in Kenya (2024)
- 35% (2024)
- 35% of the population in Kenya used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 56.4 million (2024)
- Kenya had a population of 56.4 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 12.6% | −9.6 pp |
| 2021 | 22.2% | +2.9 pp |
| 2017 | 19.2% | +3.3 pp |
| 2014 | 16% | — |
Frequently asked questions
What share of adults in Kenya borrowed from a formal financial institution?
12.6% of adults in Kenya borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
When did formal borrowing in Kenya peak?
The highest value in the available series was 22.2% in 2021; the latest (2024) value is 12.6%.
How recent is the formal borrowing data for Kenya?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Kenya.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .