The credit bureau coverage in Kenya has shown significant growth since 2013. Starting at 4.7% of the adult population, the coverage rose rapidly, especially between 2014 and 2016, where year-on-year increases of up to 191.84% were observed. By 2023, coverage stood at 44.8%. While the CAGR from 2013 to 2023 was 8.42%, the forecast from 2024 to 2028 suggests a more modest growth with a projected 5-year CAGR of 3.45%.
- 2013: Year-on-year variation of -4.08%; CAGR of 17.48%
- 2014: Year-on-year variation of 4.26%; CAGR of 16.33%
- 2015: Year-on-year variation of 191.84%; CAGR of 34.08%
- 2016: Year-on-year variation of 80.42%; CAGR of 41.8%
- 2017: Year-on-year variation of 17.83%; CAGR of 44.06%
- 2018: Year-on-year variation of -1.64%; CAGR of 44.78%
- 2019: Year-on-year variation of 21.74%; CAGR of 49.34%
- 2020: Year-on-year variation of 3.57%; CAGR of 21.4%
- 2021: Year-on-year variation of 6.37%; CAGR of 9.22%
- 2022: Year-on-year variation of 5.99%; CAGR of 6.93%
- 2023: Year-on-year variation of 5.41%; CAGR of 8.42%
- 2028 (forecast): Projected 5-year CAGR of 3.45%; projected 5-year growth rate of 18.47%
Future trends to watch for include the potential for market saturation, technological advancements in data collection and analysis, and evolving regulations impacting credit bureau operations. The forecast suggests a steady but slower growth, highlighting a maturing market.
