A recent report by Infotrak has unveiled the emotional toll that economic hardships are taking on Kenyans, with nearly half of the population experiencing increased stress and anxiety. The study, released on Monday, January 22, 2024, disclosed that 48% of Kenyans are grappling with heightened stress levels due to the escalating cost of living.
The impact of economic challenges extends beyond individual well-being, affecting personal relationships for 32% of respondents, as indicated by the report. Health issues have also emerged, with 21% of Kenyans reporting physical ailments attributed to economic hardships, contributing to an 18% rise in mental health concerns.
In a stark revelation, the statistics demonstrate that only 5% of Kenyans enjoy a comfortable lifestyle, while a staggering 73% are either facing severe financial distress or struggling to make ends meet.
According to the Infotrak report, family and friends, along with government assistance programs, are identified as the most crucial resources and support systems for individuals dealing with economic challenges.
To cope with the harsh economic conditions, a significant portion of Kenyans is resorting to various strategies. The report highlights that 45% of respondents have taken on part-time work to supplement their income, 41% have slashed non-essential expenditures, and 18% have resorted to taking out loans to bridge financial gaps.
As Kenyans navigate these challenging times, the report sheds light on the resilience of the population, showcasing efforts to secure additional income through side hustles and implementing cost-cutting measures. The findings underscore the need for comprehensive solutions to address the multifaceted impact of economic hardships on the well-being of individuals and the broader community.
