October Health – 2025 Report

Financial Wellness in Kenya

The leading cause of financial wellness stress in Kenya is generally the high cost of living combined with low and irregular income levels. Factors such as inflation, limited access to stable formal employment, high household debt, and lack of substantial social safety nets contribute significantly to financial stress among the population. In workplaces, this often translates to employee anxiety impacting productivity and well-being. Offering financial wellness programs and support through platforms like October’s digital group sessions and content can help employees manage these stresses better.

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Financial Wellness Prevalence
43.53%
Affected people
23,941,500

Impact on the people of Kenya

Effects of High Financial Wellness Stress on Health and Personal Life

  • Mental Health: Increased anxiety, depression, and chronic stress.
  • Physical Health: Elevated risk of hypertension, sleep disturbances, and weakened immune system.
  • Work Performance: Lower concentration, productivity, and higher absenteeism.
  • Relationships: Strained family and social relationships due to financial worries.
  • Overall Well-being: Reduced life satisfaction and increased feelings of helplessness.

Supporting employees with financial wellness programs, like digital group sessions from October, can help mitigate these impacts by promoting coping strategies and providing financial education.

Impact on the Kenya Economy

  • Reduced Productivity: Financial stress decreases employee focus and efficiency, leading to lower overall productivity in the workplace.

  • Increased Healthcare Costs: Chronic financial stress contributes to health problems, increasing healthcare expenses for both individuals and employers.

  • Higher Absenteeism: Employees experiencing financial stress may take more sick days or mental health leave, disrupting business operations.

  • Lower Consumer Spending: Financially stressed individuals reduce discretionary spending, slowing economic growth.

  • Workplace Turnover: Financial stress can cause increased job dissatisfaction, leading to higher turnover rates and recruitment costs.

Workplace Suggestion: Implementing financial wellness programs and digital group sessions (such as those offered by October) can help employees manage financial stress, improving both mental health and economic outcomes.

What can government do to assist?

  • Improve Financial Education: Integrate financial literacy programs in schools and workplaces to equip people with budgeting, saving, and investment skills.

  • Enhance Social Safety Nets: Strengthen unemployment benefits, healthcare access, and affordable housing initiatives to reduce financial insecurity.

  • Promote Fair Wages: Implement policies ensuring living wages and equal pay to help reduce economic stress among workers.

  • Encourage Employer Support: Incentivize companies to offer financial wellness programs, counseling, and resources for employees.

  • Increase Access to Affordable Credit: Regulate lending to prevent predatory practices and provide low-interest loans or financial assistance.

  • Use Digital Group Sessions & Assessments: Deploy platforms like October to deliver accessible financial wellness workshops and track stress levels, enabling targeted interventions.

What can businesses do to assist their employees?

  • Offer Financial Education Workshops: Host sessions on budgeting, saving, and debt management.
  • Provide Access to Financial Advisors: Partner with financial experts for confidential employee consultations.
  • Implement Employee Assistance Programs (EAP): Include financial counseling as part of mental health support.
  • Facilitate Retirement Planning: Provide resources and plans to help employees prepare for their future.
  • Promote Transparent Communication: Clearly communicate salary, benefits, and financial perks to reduce uncertainty.
  • Encourage Use of Digital Tools: Introduce digital group sessions or resources (like October) focusing on financial wellness to build collective knowledge and resilience.