The Kenya National Bureau of Statistics (KNBS) and the Central Bank of Kenya (CBK) have joined forces for the 2026 Other Financial Corporations Survey (OFCs). While banks often dominate the headlines, this survey targets the other side of the financial world insurers, pension funds, SACCOs, and digital lenders to ensure the country’s economic engine is firing on all cylinders.
What KNBS & CBK will measure
- Other Financial Corporations (OFCs): These are financial institutions that do not accept traditional deposits like commercial banks but are vital for credit and investment. They include insurance companies, SACCOs, digital credit providers, and money market funds.
- Monetary and Financial Statistics (MFS): This is a consolidated record of the assets and liabilities of financial institutions. It tracks the money supply and net assets, providing a “health check” on how much money is moving through the economy.
- Financial Soundness Indicators (FSIs): These are specific metrics used to assess the stability and health of financial institutions. They help regulators spot risks—like high debt or low liquidity—before they lead to a crisis.
- Depository Corporation Survey (DCS): An analytical report that merges the accounts of the CBK and commercial banks to understand key economic drivers like output and prices.
The 2026 OFCs survey will run from May to July 2026. Historically, statistics have been robust for commercial banks but thinner for the OFC sector. This survey aims to close those gaps, creating a complete financial sector balance sheet. By including digital lenders and microfinance institutions, the survey reflects the modern reality of Kenya where many citizens rely on non-traditional finance.
Maintaining a sound financial system is vital for meeting national development goals. By tracking FSIs across the insurance and pension sectors, the CBK can monitor interconnectedness and contagion risks the danger that a failure in one part of the sector like a major insurer could spread to others.
A primary goal of the survey is to enhance the regional comparability of Kenya’s statistics. As Kenya positions itself as an East African digital and financial hub, having data that meets international standards makes the country more attractive to foreign investors.
Accurate data will allow the National Treasury and CBK to formulate better policies regarding taxation, interest rates, and financial inclusion. For instance, recent surveys have highlighted a decline in the financial health of Kenyans despite rising access to accounts, prompting a need for targeted interventions to reduce debt distress.
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