This study uses data from the 2006 and 2009 national financial access (FinAccess) surveys to
examine factors influencing financial service choices that households make. The findings indicate
that households’ access to financial services is based on levels of education, access to a
saving facility, availability of M-Pesa services, age, group affiliations and wealth. The study
further indicates that about a third of the adult population does not use any form of financial
services available. Based on the results, the study recommends innovative marketing strategies
aimed at expanding the use of mobile phones, which are valuable beyond the voice service
and recoup costs from their increased usage; increased investment in financial education; and
better designed financial products by the private sector appropriate for the unbanked majority