This is the reality of a Kenyan middle-income household well painted by the report by Economic Co-operation and Development released yesterday. According to the report, one in eight middle-class homes has amassed debt greater than three-quarters of their total assets. According to the Kenya National Bureau of Statistics, the middle-class person spends between Sh23,670 and Sh199,999 each month. While core goods and services make up more than half of middle-income household spending, they spend on average 12 per cent of their budget on leisure including recreation, culture, hotels, restaurants and alcohol. “House prices have grown twice as fast as inflation and one-and-a-half times faster than the middle income household’s average income,” the report stated.

Source: The Star April 11, 2019 21:11 UTC