Kenyans spend less on entertainment as taxes, failing businesses cut incomes

Tough economic times are disrupting Kenyans’ habit of enjoying popular festivities such as the just ended Christmas and New Year, a new survey has shown, revealing how the majority were unable to spend on entertainment as they were tied to spending on basic needs.

This is based on a consumer spending survey by ICEA Lion Asset Management, which shows that in the three months to December 2024, about half of Kenyans allocated more than 40 percent of their income to basic needs such as food, shelter, clothes, school fees and transport.