Only 30pc of Kenyans report income growth, TransUnion survey

NAIROBI, Kenya – A recent TransUnion survey reveals that only 30% of Kenyans reported an increase in income during the second quarter of 2026, down from 42% a year earlier. The primary reasons for the decline in income growth cited by respondents include lower salaries (27%), job losses (24%), and a decline in business orders (23%).

Young consumers, particularly Generation Z, faced significant financial pressure, with 54% stating they could not meet all their financial obligations, an increase of seven percentage points compared to the previous year.

Despite the economic challenges, 78% of consumers surveyed expect their incomes to rise over the next 12 months, a figure five percentage points lower than a year ago. TransUnion Kenya's CEO, Morris Maina, noted that households are adapting by prioritizing essential expenses, seeking additional income sources, and exercising caution when borrowing.

The survey indicated that 53% of consumers planned to reduce non-essential spending, such as entertainment, travel, and dining out, while 48% aimed to cut back on major purchases.

Borrowing intentions saw a decline, with 57% of consumers planning to apply for new credit or refinance existing loans, down from 69% a year earlier. Personal loans remained the most popular borrowing method (53%), followed by mobile loans (45%), and buy now, pay later services (27%). Digital fraud continued to be a concern, with 77% of respondents reporting being targeted through various channels in the past three months.

While nine percent of those targeted suffered financial loss, 68% reported avoiding such schemes. Maina emphasized the importance of fraud prevention as more Kenyans embrace digital financial services.