Kenya has unveiled its first-ever National Financial Inclusion Strategy (NFIS) 2025–2028, a comprehensive roadmap designed to strengthen the country’s financial ecosystem and shift the national focus from mere access to financial health. The strategy aims to double the proportion of financially healthy adults to nearly 40% by 2028, marking a critical step toward improving the well-being and resilience of citizens. This move comes amid findings that, while 84.8% of adults now have access to financial services, only 18.3% are financially healthy—down from 39.4% in 2016.
The NFIS, jointly spearheaded by the Central Bank of Kenya (CBK) and the National Treasury, lays out ambitious yet practical targets across key financial dimensions. It seeks to raise insurance uptake from 15% to 50% and increase formal savings from 68% to 75%, ensuring that financial inclusion translates into real economic security. To reduce household debt stress, the strategy will introduce stronger creditworthiness checks and alternative scoring systems, targeting a 30% reduction in over-indebtedness. In agriculture, a sector vital to Kenya’s economy, NFIS aims to boost farmers’ access to formal credit from 43% to 60%, supported by crop insurance and digital value-chain financing.
A major highlight of the NFIS is its emphasis on inclusivity and sustainability. Green finance is set to play a central role, with Kenya committing to fully implement the Kenya Green Finance Taxonomy and expand ESG-compliant products and carbon trading frameworks. Persistent disparities—especially among women, youth, and rural populations—will also be tackled head-on. To address these, the NFIS proposes mobile ID registration units in rural areas, the scaling of women-friendly and disability-adapted financial products, and the rollout of financial literacy programs in schools to prepare the next generation for financial independence.
For the first time, Kenya will have a unified national framework to coordinate efforts across regulators, financial institutions, fintechs, and development partners. The establishment of a National Financial Inclusion Committee and a Technical Coordination Council will ensure cohesive execution and data-driven monitoring. This coordinated approach addresses a long-standing fragmentation in Kenya’s financial sector, where multiple stakeholders operated in isolation despite shared objectives of enhancing inclusion and resilience.
According to Treasury Cabinet Secretary John Mbadi, the NFIS represents “a call to action to create a vibrant, efficient, and inclusive financial system that benefits all Kenyans.” If implemented effectively, it could mark a turning point in Kenya’s journey—moving beyond digital access to true financial empowerment, resilience, and prosperity. This strategy not only strengthens the foundations of financial inclusion but also ensures that every Kenyan can participate meaningfully in the country’s economic growth.
