The high cost of borrowing is the leading reason Kenyans abandon applications for new credit or refinancing, according to TransUnion’s Consumer Pulse Study released in October 2026.
The survey found that 41 per cent of respondents who abandoned their applications cited high costs, making it the most common reason for not proceeding.
Another 30 per cent said they had found an alternative source of funding, while 27 per cent pointed to their income or employment status.
Credit history and the prospect of insufficient savings on repayments each accounted for 25 per cent of abandoned applications.
Meanwhile, 16 per cent said they no longer needed new credit, while an equal proportion cited lengthy decision-making processes.
Other barriers included the amount of work required to apply, cited by 13 per cent, and being denied permission to refinance, at 12 per cent.
Seven per cent could not verify their identity, while 2 per cent did not know how to apply.
