Only 3% of Kenyans earn a monthly income of above Ksh.50K – TIFA

Only three percent of Kenyans earn an income above Ksh.50,000 a month, a new survey by research firm Trends and Insights For Africa (TIFA) has shown.

The survey conducted between June 23 and 30 with 1,500 respondents across the country found that 38 per cent of Kenyans do not have a monthly income, while 12 percent earn less than Ksh.5,000.

Those earning between Ksh.5,000 and Ksh.10,000 were 12 per cent of the respondents, while 13 per cent earn between Ksh.10,000 and Ksh.20,000.

Some 10 percent, meanwhile earn between Ksh.20,000 and Ksh.50,000 while 11 per cent said they are not sure.

“Even those in the two highest monthly income groupings combined Shs.20,000 and above Shs.50,000 are fewer than those earning nothing 13 vs 38. The vast majority of Kenyans thus survive on extremely modest incomes,” said the report.

Regarding the employment status of Kenyans, nearly one-third of Kenyans who are now jobless (31 per cent) have never been employed with some others now jobless have worked in the past (8 per cent).

Twenty-nine per cent are self-employed while fourteen per cent are casual labourers or in part-time self-employment.

At the same time, eleven per cent are employed full-time while four per cent are part-time employees. One per cent of the respondents are meanwhile retired without a pension while another one per cent are retired with a pension.

TIFA said the survey was conducted via assisted telephonic interviews.