Revealed: Only 2.65pc of bank accounts hold more than Sh100,000

Only 2.65 percent of Kenya’s 66.3 million bank accounts held more than Sh100,000 last year, reflecting Kenya’s growing income inequality and the country’s poor savings culture.

The Central Bank of Kenya (CBK) data shows that the number of high-quality accounts increased to 1.65 million in the year to December, reflecting a growth of 4.2 percent.

This offers a sneak-peek into Kenya’s growing income inequality, where wealth is concentrated in the hands of a small segment of the population.