73 per cent of Kenyans are currently facing economic hardship and struggling to make ends.
According to a recent report released on Monday January 22, by Infotrak Voice of the People Poll, the majority of Kenyans have been forced to engage in side business and reduce their daily spending in order to cope up with the situation.
InfoTrak research manager Johvine Wanyingo stated that 18 percent are in severe financial distress with only 5 percent managing the situation comfortably.
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“We wanted to find out how Kenyans are coping with economic adversity that we are facing as a country and a majority of 73 percent of Kenyans are either in severe economic situations currently or are struggling to make ends meet.” he stated.
78 percent of residents in the North Eastern part of the country topped the list of Kenyans in severe Financial distress ,followed closely by the coast region at 76 percent ,Central 74,and Rift valley 73.
The research which was conducted in December 18 and 19 , 2023 also depicted that 45 percent of Kenyans have sought additional employment to get extra sources of income as a coping strategy with 41 percent cutting back on non -essential expenses.
18 percent of Kenyans opted to take loans while 15 percent borrowed money from friends and family to cope with the economic hardships.
“There are Kenyans now working both daytime and night just to cope with the harsh financial situations they are experiencing .Some are running some side businesses to earn extra income while others have reduced their expenditure in their households,” he stated.
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