Home Business InfoTrak says cost of living major contributor to economic hardships

InfoTrak says cost of living major contributor to economic hardships

Angela Ambitho is the Founder and CEO of Infotrak Research & Consulting

73pc of Kenyans are either in severe financial distress or are struggling to make ends meet.

This is according to a recent survey conducted by Infrotrak in 47 counties on the economic hardships faced by Kenyans.

Channel 1

This condition has forced many to seek a side hustle and reduce non-essential expenditure as a coping mechanism which has further caused a strain on relationships and destabilized people mentally.

“4pc of Kenyans are engaged in side hustles to supplement their hustles, 41 pc have reduced their expenditure on non –essentials and 18pc have taken out loans to fill in the gaps. 1pc have even had to forego meals,” said Infotrak in its report.

A larger percentage of men as compared to women have had to seek other employment or income sources as they lead in increased overall stress and anxiety at 49pc against 47pc.

The firm stated most people have had to rely on family, friends and the government and other organizations for support and resources in dealing with the hardships.

“48pc fell on family and friends, 24pc feel the government assistance program have been beneficial while 19pc said NGOs really came in handy, amidst all these most Kenyans are in despair as 67pc think school fees will increase, 56pc the looming problem that is unemployment will increase and 51pc think the cost of energy will still rise in 2024” stated the report.

Kenyans have taken to various social Media to call on the government to ease the burden. As InfoTrak states; 13pc have suggested that the government create more job opportunities and reduce the cost of fuel while 12pc call for reduction of the cost of education and high taxation.

Citizens are further calling on support in disaster management, security, the agriculture sector, improving of healthcare as 12pc call for reduction on the taxes imposed on citizens and 0.03pc says there needs to be an active fight against corruption.

Sally Namuye
+ posts