Women, older Kenyans and low-income earners are emerging as the most financially anxious groups, with new data showing they are significantly more likely to worry about debt despite a broader easing in financial stress.
- •Findings from the Old Mutual Financial Wellness Monitor 2025 indicate that about 40% of working Kenyans worry about their debt, a notable improvement from 53% a year earlier.
- •But beneath that headline decline lies a sharper divide across gender, age and income levels.
- •The survey assesses the state of working Kenyans’ financial wellness and how this has shifted over the last three years, focusing on employed Kenyans aged 20 to 59, earning KSh 12 000 or more.
Women report higher levels of concern than men, while those aged 50 to 59 years are the most anxious among all age groups.
Lower-income earners, particularly those making between KSh 12,000 and KSh 20,000 also show elevated levels of debt-related stress.
Older consumers are more likely to carry financial responsibilities such as supporting extended family or paying education costs, while lower-income households are disproportionately reliant on borrowing to meet basic needs.
The data shows that four in ten borrowers took loans primarily for everyday expenses, underscoring how debt is increasingly being used not for asset-building, but survival.
At the same time, access to formal credit remains uneven. Higher-income earners tend to rely on bank loans and credit cards, while poorer households lean on informal sources such as friends, family and savings groups often at less predictable terms.
Despite the anxiety, there are early signs of improving financial discipline. More borrowers are restructuring their obligations, with increased uptake of debt consolidation loans and negotiated repayment plans with creditors. This shift appears to be contributing to the overall decline in debt-related worry.
The study provides insight into working Kenyans’ financial behaviour and attitudes when it comes to their day-to-day money decisions, how they mitigate financial risks and their journey to fulfilling their financial goals as they strive toward financial wellness.
The 2025 results indicate that working Kenyans are entering a phase of recovery after a difficult 2024. This recovery is marked by a more positive financial outlook and a recovery in financial satisfaction. Many are also expanding income streams and are pursuing entrepreneurial activity as a path to stability and prosperity.
However, there are still persistent vulnerabilities that challenge working Kenyans financial wellness such as high costs-of-living, sticky retirement preparedness and low protection levels.
