October Health – 2025 Report

Financial Wellness in Kenya

The leading cause of financial wellness stress in Kenya at the population level is income insecurity, driven by high unemployment rates and a large informal economy. This results in unstable earnings, difficulty in meeting basic needs, and limited access to social safety nets, creating widespread financial stress. Supporting employees with digital group sessions and assessments from platforms like October can help organizations address this stress effectively.

Financial Wellness Prevalence
43.62%
Affected people
23,991,000

Impact on the people of Kenya

  • Physical Health:
    High financial stress can lead to increased risk of hypertension, cardiovascular diseases, and weakened immune response.

  • Mental Health:
    It often causes anxiety, depression, insomnia, and reduced cognitive function.

  • Work Performance:
    Financial worries result in decreased concentration, lower productivity, and higher absenteeism.

  • Personal Life:
    Increased conflict in relationships, social withdrawal, and reduced overall life satisfaction.

  • Overall Well-being:
    Chronic financial stress undermines motivation and resilience, affecting both personal and professional growth.

Suggestion: Implementing financial wellness programs and group sessions through platforms like October can help employees manage stress and improve their overall health.

Impact on the Kenya Economy

Effect of High Financial Wellness Stress on an Economy

  • Reduced Employee Productivity: Financial stress reduces concentration and efficiency at work, leading to lower overall productivity.
  • Increased Healthcare Costs: Stress-related health issues increase demand for medical services, raising healthcare expenses for employers and the economy.
  • Higher Absenteeism: Financially stressed employees tend to take more sick days, disrupting business operations.
  • Lower Consumer Spending: Individuals under financial stress often cut back on discretionary spending, slowing economic growth.
  • Workplace Turnover: Financial stress can cause job dissatisfaction, increasing employee turnover and hiring/training costs.

Supporting employee financial wellness through workplace programs, like October’s digital group sessions and assessments, can alleviate these effects and promote a healthier economy.

What can government do to assist?

  • Implement Financial Education Programs: Provide accessible financial literacy courses at schools and workplaces to improve money management skills.

  • Enhance Social Safety Nets: Strengthen unemployment benefits, healthcare, and pension schemes to reduce financial insecurity.

  • Promote Affordable Housing and Living Costs: Control housing prices and essential goods to reduce financial strain on workers.

  • Encourage Employer Support: Incentivize employers to offer financial wellness programs, including budgeting workshops or access to financial advisors.

  • Facilitate Access to Financial Services: Ensure that low-income populations have easy access to banking, credit, and savings products tailored to their needs.

  • Promote Work-Life Balance: Encourage policies that allow flexible work hours, reducing stress and enabling better financial planning.

  • Utilize Digital Tools: Support platforms like October that provide digital group sessions and resources on managing financial stress in the workplace.

What can businesses do to assist their employees?

  • Offer Financial Education Workshops: Provide sessions on budgeting, saving, investing, and managing debt.
  • Provide Access to Financial Counseling: Partner with financial advisors or offer confidential one-on-one support.
  • Implement Employee Assistance Programs (EAPs): Include financial wellness resources and counseling.
  • Introduce Salary Advances or Emergency Loans: Help employees manage unexpected expenses without high-interest debt.
  • Promote Savings and Retirement Plans: Encourage participation in pension schemes or savings programs with employer matching.
  • Use Digital Tools: Utilize platforms like October for group sessions focused on financial wellness to reduce stigma and increase engagement.