Nearly half of Kenyan Gen Z and millennial borrowers plan to take out new loans or refinance existing ones within the next year, according to a TransUnion study.
The Consumer Pulse Study, found that 45 per cent of respondents in both generations who have loans intended to borrow or refinance in the next 12 months.
Overall, 28 per cent of Kenyans with loans said they planned to borrow or refinance during the period.
The proportion was lower among older borrowers, with 24 per cent of Generation X respondents planning to take on new credit or refinance existing loans.
Baby boomers recorded the lowest share at 11 per cent, indicating a difference in borrowing intentions across generations.
The findings show that younger borrowers were more likely than older generations to anticipate taking on new credit or changing existing loan arrangements within the next year.
