Majority of Kenyans prefer good schooling to wealth

A majority of Kenyan households rate giving the ‘best education’ to children and living healthy as a sign of prosperity above being wealthy, a new survey suggests.

The report by PayU, the fintech and e-payments division of Prosus (the global investment arm of Naspers) found that 46 percent of Kenyans polled considered education as an indicator of prosperity followed by health at 45 percent.

Being wealthy was cited by 38 percent of respondents, followed by a loving family (37 percent) and a secure well-paying job (35 percent).

The findings are based on feedback from 10,500 adults in 18 countries globally, with Kenya, Nigeria and South Africa representing Africa.

PayU says the survey was aimed at establishing the “limitations of financial inclusion, the value of financial services, and the key characteristics that define prosperity”.

About 45 percent of South Africans cited health as top indicator of prosperity, followed by education (44 percent), a well-paying job (41 percent), loving family 38 percent) and owning a house (37 percent).

Nigerians, however, cited being wealthy as the key driver of prosperity, followed by being healthy (48 percent), providing best education to the children (42 percent), a loving family (36 percent) and a well-paying job (31 percent). “The striking insight is that in countries considered poorer by international standards, the values of health and happiness are emphasised over wealth and money,” PayU says in Financial Prosperity Barometer: Perceptions of prosperity in high-growth markets report.

About 92 percent of Kenyans believe financial services help people plan for their future prosperity, the survey findings show, with 77 percent saying the more they access financial services, the higher the chances of being prosperous.