The central bank of Kenya has released a damning report that only 2.5% of kenyans accounts have money totaling to Ksh100000
Kenyans have taken to social media with several responses, bearing in mind the hard economic times that have been brought by Covid19 and the current Russia-Ukraine war.
Since 2020 when covid struck, life has been unbearable for most kenyans, since most of them lost their formal employment.
CBK reports that Banks have been reporting record profits since the country began to recover from the impacts of Covid-19, as clients restart loan servicing.
Many Kenyans work in the informal economy, where incomes are insufficient to meet their necessities for food and shelter.
According to the Kenya National Bureau of Statistics (KNBS), 923,000 new jobs were created in Kenya last year, the majority of which were in the informal sector.
Last year, there were three million persons employed in the official sector, up from 2.74 million in 2020, when many Kenyans lost their jobs.
The informal sector employed 15.3 million people, accounting for 84 percent of all workers. As a result, the overall number of people employed increased.
Politicians have taken advantage of the current economy as they campaign for the August polls.
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