Financial inclusion is a crucial enabler of growth especially in achieving Kenya's Vision 2030 and attaining some of the Sustainable Development Goals (SDGs). The World Bank defines financial inclusion as when households and businesses have access to more useful and affordable financial products and services that meet their needs in terms of transactions, payments, credit and insurance delivered in a responsible, affordable and sustainable way and not credit growth.
Formal financial inclusion remains average in developing and emerging markets. In Kenya, the results of the 2019 FinAccess Households survey revealed formal financial inclusion has risen to 82.9 percent, up from 26.7 percent in 2006, while complete exclusion has narrowed to 11 percent from 41.3 percent in 2006.
