Kenya Market Analytics Report Q1 2024

Stay Ahead With Key Economic and Credit Insights

As Kenya's financial landscape evolves, the Kenya Market Analytics Report (KMAR) for Q1 2024 explores important macroeconomic trends, significant shifts in the credit sector, and demographic behaviours shaping Kenya's financial environment.

Takeaways include:

• Economic changes and impact: GDP growth slowed to 5.0% and inflation dropped to 5.7%. These changes call for agility and adaptability when planning for future conditions.
• Credit market dynamics: Traditional banks continued to dominate, holding 96.16% of market loan balances (KES 4.84T). Opportunities exist across various credit types, including mobile loans, high-value overdrafts and personal loans.
• Demographic shifts: Millennials are a key force in Kenya's credit market, engaging with different loan products. Lenders must offer targeted, innovative credit solutions that cater to their needs.
• Future credit trends: The shifts in borrowing patterns, such as the rise in demand for larger loans and a cautious approach to mobile lending, suggest the need to refine product offerings and improve risk management.

Download Executive Summary

Gain actionable insights to better understand the Kenyan credit market's complexities, equipping your business with valuable knowledge to make more informed decisions, better refine credit strategies, and confidently strive for sustainable growth in 2024.

Contact TransUnion for the full report.