Kenyans Turn to Side Hustles, Mobile Loans as Financial Pressure Mounts—Old Mutual Report
Kenyans are increasingly relying on side hustles, mobile loans, and savings goals to navigate economic pressure, according to the 2025 Old Mutual Financial Wellness Monitor...
✨ Key Highlights
A new report by Old Mutual reveals that Kenyans are increasingly turning to side hustles and mobile loans to cope with financial pressures, demonstrating a proactive approach to economic challenges.
- 47% of working Kenyans now own or co-own a business, and 26% are juggling multiple jobs.
- The Financial Wellness Monitor 2025 highlights a rise in financial satisfaction to 5.9 out of 10, with 70% optimistic about the next six months.
- Despite optimism, 40% are borrowing for daily expenses, and mobile loans dominate Kenya's credit system.
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Kenyan Financial Sector Adapts to Digital Transformation - March 2026
Equity Group is heavily investing in artificial intelligence as a cornerstone of its future banking strategy, with an overwhelming 98.2% of its transactions now occurring outside of physical branches. A new report by Old Mutual reveals that Kenyans are increasingly turning to side hustles and mobile loans to cope with financial pressures, demonstrating a proactive approach to economic challenges. Meanwhile, Safaricom has announced the return of its annual engineering summit, Decode 4.0, scheduled to take place in Nairobi from March 31 to April 2, 2026. These developments collectively highlight how Kenyan institutions and individuals are embracing digital solutions to address evolving financial needs.
