As the cost of living continues to rise, Kenyans citizens are looking for alternative ways to supplement their income.
A new report by Tala, the MoneyMarch 2025 survey, indicates that 92% of Kenyans are taking up side hustles, part-time jobs, or taking loans to manage their financial needs.
The report notes that nearly half, 48%, of Kenyans have a side hustle, while 16% have taken on part-time jobs.
Further, the report highlighted that many households are relying on a single breadwinner and looking for external support to stay afloat.
Also Read: Kenyans Happy About Their Financial Future Despite Hard Economic Times- Report
Loans and Businesses
At the same time, loans have been a common option for Kenyans amid the challenging time.
The report states that 43% of Kenyans rely on loans to support their expenses, adding that over the past year, loan dependency has increased by 19 percentage points.
Moreover, digital lending platforms have gained popularity, with 38% of borrowers opting for fintech solutions, compared to just 8% who borrow from banks.
Entrepreneurship also emerged as a key survival strategy. The report reveals that 51% of Kenyans have started businesses to navigate economic uncertainties.
Although side businesses were once considered supplementary sources of income, many individuals now depend on them as their primary means of livelihood.
In addition, Kenyans are making financial adjustments to lower their spending.
The report has noted that 72% of Kenyans have cut back on their expenses. The frequency of income-generating activities has also increased, with 35% of Kenyans engaging in side hustles daily and 36% doing so on a monthly basis.
Also Read: Kenyans Ranked Among World’s Most Mentally Strong
Kenyans Who Are Breadwinners
On the other hand, the report shows that 61% of Kenyans identify as the breadwinners in their families, while only 27% share financial responsibilities equally with a spouse or family member.
Meanwhile, 12% contribute less than a quarter of their household income.
More than half of the respondents, 55%, provide for three to five family members, while 23% support six or more people. Only 1% of the respondents indicated that they have no dependents.
31% of Kenyans earn Ksh30,000 or less per month, 26% of households reported earning more than Ksh100,000, while 2% indicated that they have no income at all.
Also, 50% of respondents described their financial situation as unstable or inconsistent. 18% reported being financially stable while 29% said that their finances fluctuate between breaking even and struggling.
Another 21% acknowledge financial instability, while 16% seek external financial assistance from lending institutions.
Follow our WhatsApp Channel and join our WhatsApp Group for real-time news updates
