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Average size of home loans nearly halves in four years
In 2023, individual Kenyans borrowed an average of Sh14,461, a 41 percent drop from the average of Sh24,606 taken from lenders just before the pandemic in 2019, a new report by Financial Sector Deepening (FSD) Kenya shows.
The average size of loans taken by Kenyans has nearly halved in the aftermath of the Covid-19 scourge, signalling a go-slow by risk-averse lenders and a population desperate for cash to survive in a tough economy.
In 2023, individual Kenyans borrowed an average of Sh14,461, a 41 percent drop from the average of Sh24,606 taken from lenders just before the pandemic in 2019, a new report by Financial Sector Deepening (FSD) Kenya shows.
