Banking Weekly - Navigating Financial Freedom in Africa

Welcome to the Kasi Insight Weekly Newsletter – Banking Edition.

This week, the Kasi Insight team unpacks the shifting dynamics of Africa’s financial sector, from rising credit demand and Gen Z disengagement to the evolving definition of financial freedom across the continent. Backed by fresh consumer data from Ghana, Kenya, Namibia, Tanzania, and beyond, we spotlight what’s moving the needle in trust, access, and innovation and what banks must do next.

Let’s dive in.

INSIGHT SPOTLIGHT

Kenya’s Gen Z: Losing Trust, Not Just Interest

Kenyan banks are at risk of alienating their most important growth segment. Our Gen Z whitepaper shows a deep disconnection between what young customers expect and what traditional banks offer, especially around ethical behavior, digital UX, and transparent products.

Why it matters: Gen Z doesn’t just want apps; they want partners in their financial lives. Tech alone won’t close this trust gap—purpose, personalization, and education will.

Access the financial freedom dataset covering 10+ markets

SECTOR SNAPSHOT: WHAT’S SHIFTING IN BANKING

1. Credit is surging—but risky
In Ghana, loan demand rose 15 points, led by Gen X (+27) and women (+20). But in Kenya, the NPL ratio surged to 15.3%, prompting tier-one banks to increase provisions by 48%.

2. Monetary easing ≠ consumer optimism
Kenya’s CBK cut its policy rate five times since August 2024, yet confidence remains weak. Meanwhile, Uganda raised rates to 10.25%, showing divergent monetary paths amid fragile recovery.

3. Financial freedom = different things
In Namibia, 94% are actively working toward financial freedom. For Gen X, it’s about achieving milestones and ownership; for Gen Z, it’s about financial inclusion and managing daily expenses.

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DATA DEEP DIVE

COVID, Currency & Confidence

Resilience defined Kenya’s banking sector in 2020, with demand for financial products holding steady between an index of 60–75. But today’s trust challenge isn’t about survival—it’s about evolution. As digital currencies and fintech grow, the post-pandemic lesson is clear: consumer confidence is fragile and must be earned.

Read the latest analysis by our experts

USE CASE

How CIB leveraged Kasi data to enter Kenya

CIB leveraged Kasi Insight's market assessment report to guide its entry into the Kenyan market, using real-time, consumer-driven data to better understand local banking behaviors, customer expectations, and competitive dynamics. The report provided critical insights into consumer trust, digital banking adoption, and unmet needs in key customer segments. This intelligence shaped CIB’s go-to-market strategy.

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UPCOMING EVENTS

Masterclass Series for CMOs in Banking & Financial Services
This exclusive 3-part masterclass by Kasi Insight is designed to equip CMOs and senior marketers with the tools to turn data into influence and marketing into growth.

Register your interest here.