Kenya. The transformative approaches for broader pension coverage

Kenya’s pension penetration rate, at 26 percent, is the third lowest in sub-Saharan Africa, trailing far behind countries such as South Africa, which boasts a 66 percent reach. This disparity underscores a major financial vulnerability for many Kenyans, particularly in the informal sector where pension schemes are either underutilised or deemed inconsequential. The rising cost of living and limited incomes have further constrained the ability of many to save, leaving a substantial portion of the population without a reliable safety net...