Old Mutual has today released the 2025 Old Mutual Financial Wellness Monitor. From the report, we can learn that Kenyans are increasingly turning to side hustles, entrepreneurship and digital financial tools to navigate the tough economic times.
The report reveals that 47% of working Kenyans now own or co-own a business. On the other hand, 26% are juggling multiple jobs or part-time roles, up from 20% in 2024. A quarter of these “poly-jobbers” report earning more from their side hustles than from their primary employment.
“Kenyans are not waiting for the economy to improve. They are actively engineering their own recovery,” said Arthur Oginga, Group CEO at Old Mutual.
Financial satisfaction among Kenyans rose from 5.2 out of 10 in 2024 to 5.9 in 2025. 70% of respondents are optimistic about their financial future over the next six months.
About 91% of Kenyans now report having a savings goal.
Respondents aged 20–29 also reported improved satisfaction levels compared to previous years.
Many households stil remain financially stretched despite the growing optimism. With about 40% borrowing to meet daily expenses. 54% also report having the same or higher levels of debt compared to last year. About 46% have revealed they regularly overspend their budgets.
The report also revealed how dominant mobile loans are to Kenya’s credit system. This is followed by personal loans from chamas (informal savings groups).
According to the report, 53% of Kenyans say they have enough savings that can last them for at least three months. This is 9% higher than what was reported in 2024.
This still leaves approximately 4 in 10 Kenyans financially vulnerable. These have limited buffers to withstand tough economic times. .
Experts say the findings reflect a broader transition in financial behavior.
“What we are seeing is a shift from passive financial behavior to active financial intent,” said Dr. Tabitha Njuguna of Strathmore University Business School.
However, the report warns that without stronger financial literacy, access to advisory services, and long-term planning tools, these gains may remain short-lived.
For these and more stories, follow us on X (Formerly Twitter), Facebook, LinkedIn and Telegram. You can also send us tips or reach out at info@techarena.co.ke.
Also Read: Old Mutual’s Thrive App is Redefining Financial Wellness Through Technology