By James Murimi - Reporter
Kenya, 24 June 2026 - Mt Kenya workers have been urged to prioritise disciplined saving, investment and retirement planning as rising living costs, economic uncertainty and longer life expectancy continue to strain household finances across the region.
The call was made during a Financial Wellness and Retirement Preparedness Forum organised by Octagon Africa in Kerugoya, Kirinyaga County, bringing together employees, human resource professionals and business leaders to examine pathways toward stronger financial resilience and long-term financial wellbeing.
The forum focused on key pillars of financial wellness, including budgeting, debt management, emergency fund creation, investment literacy, retirement preparedness and wealth creation, while also addressing emerging risks such as inflation, rising healthcare costs, job market disruption, increased longevity and shifting family responsibilities.
Speaking during the forum, Octagon Africa Kenya Chief Executive Officer Davis Ongiro said financial inclusion alone is not enough to guarantee stability or long-term security for workers.
“Financial inclusion is only the beginning. True financial wellbeing is measured by an individual’s ability to withstand economic shocks, achieve important life goals and retire with dignity,” said Ongiro.
He cautioned that many workers remain exposed to financial shocks despite having access to formal financial systems.
“Many people focus on earning an income today without building the financial foundations needed for tomorrow,” he said. “Wealth creation is not determined by how much you earn, but by how consistently you save, invest and protect your future.”
Ongiro stressed that financial security has become a central pillar of workforce resilience in a rapidly changing economy.
“Today’s workforce faces a range of risks that extend beyond the workplace. Inflation, healthcare expenses, longer life expectancy and economic uncertainty mean that retirement planning can no longer be postponed,” he said.
He further underscored the importance of financial literacy, saying it should be treated as an essential life skill rather than an optional competency.
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“Financial wellness, retirement readiness and financial literacy are no longer optional; they are essential life skills that help individuals build resilience and maintain financial independence throughout their lives,” he added.
According to the 2024 FinAccess Household Survey, formal financial access in Kenya has risen to 84.8 per cent, up from 83.7 per cent in 2021. However, only 18.3 per cent of Kenyans are classified as financially healthy, highlighting a widening gap between access to financial services and actual financial resilience.
The survey shows that Mt Kenya counties perform only slightly above the national average in financial health. Kiambu County leads at 26.7 per cent, followed by Kirinyaga (25.9 per cent), Nyeri (25.4 per cent), Embu (23.7 per cent), Nyandarua (22.9 per cent), Murang’a (21.9 per cent), Laikipia (21.3 per cent), Tharaka-Nithi (20.7 per cent), Nakuru (20.2 per cent) and Meru (19.6 per cent).
The findings underline a key concern: while access to financial services has expanded significantly, a large share of workers still struggle to convert income into savings, investments and long-term financial security.
Participants at the forum were encouraged to adopt practical financial discipline, including consistent saving, building emergency funds equivalent to at least six months of living expenses, reducing reliance on expensive credit, and actively participating in pension schemes and retirement savings plans.
Experts also highlighted investment opportunities within pension schemes, collective investment vehicles and capital markets, emphasising the importance of early participation to benefit from long-term compounding.
The FinAccess Household Survey further shows that pension coverage in Kenya has improved from 15.2 per cent in 2021 to 20.4 per cent in 2024, although uptake remains relatively low, underscoring the need for stronger awareness and voluntary retirement savings among workers.
The forum forms part of Octagon Africa’s broader initiative aimed at promoting financial literacy, strengthening retirement preparedness and building financially resilient workforces across the country.