Personal Debt Piles Up in Kenya

The Takeaway

The economic crisis is being felt not just on Wall Street and among the international markets.  It’s hitting regular people all around the world.  We look at Kenya where banks are fiercely competing for clients and unsecured loans are becoming very common. While it’s improving people’s lifestyles, young professionals are now taking on debt for all sorts of reasons like buying expensive clothes.  Sound familiar to how we were living, say, three or four years ago? Reporter Wairimu Gitahi, from our partner the BBC, spoke with two men in Nairobi about their attitudes to money and loans.

Invest in independent global news

The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!