Kenyans turn to cheaper schools, houses as budgets tighten

A growing number of Kenyans are moving to cheaper houses, taking their children to cheaper schools and switching to cheaper brands and phones amid economic pressure.

A new survey by financial services firm Old Mutual shows that at least 26 percent of Kenyans surveyed moved to cheaper rented houses, 21 percent switched to cheaper brands and 19 percent moved their children to cheaper schools in the past year.