A study carried out by FIDA a research firm in Kenya has shown that most Kenyans are too broke during this year’s Christmas season than they ever were in 2018.
According to the research, only a small fraction of Kenyans, 21% reported an increase in their financial capabilities in 2019. This has been the lowest number ever recorded since the firm started doing their end year report analysis.
Most Kenyans argued that this year (2019) was the slowest year economically and businesses didn’t pick as expected. Money has not been easy to find and living standards have become hard as prices for basic commodities continue to hike.
In Eastern Kenya, 78% of those asked how this year’s Christmas was holding up said it was worse than any other Christmas they ever had. 40% of their counterparts in Mombasa felt the same.
Most Kenyans are planning to save money during this year’s Christmas to avoid falling in debt in January. Those with school-going children say they will have to minimize their expenditure this Christmas to allow for a smooth first term cone 2020.
What do you think about this year’s Christmas? Is it better than 2018’s Christmas or it’s even worse than you expected? Drop us a comment below.