Asset financing company, Mogo, has launched a financial literacy programme in Malindi, Kilifi County, aimed at promoting responsible borrowing among women ahead of the festive season.
The initiative is designed to equip women with practical skills on healthy borrowing, understanding loan terms, and managing debt effectively to avoid financial distress during the holiday period.
The programme also supports national efforts to deepen financial inclusion and improve financial capability, particularly among vulnerable and underserved communities.
Mogo’s Deputy Country Manager, Branton Mutea, said more than 40 women in Malindi have already benefited from the training, with plans underway to roll out the programme across Kilifi County and eventually to other parts of the country.
“In addition to the Malindi programme, we have also conducted financial literacy outreach across the Coast region, reaching more than 300 chairpersons over the last quarter through in-person forums focused on responsible borrowing, loan management, and financial planning,” Mutea said.
One of the beneficiaries, Linah Momanyi, a Malindi-based entrepreneur has acquired over 50 tuk-tuks through Mogo financing. Mutea noted that her progress demonstrated how disciplined borrowing and timely repayment can support long-term business growth and financial stability.
Recent findings from the Kenya National Financial Inclusion Strategy 2025–2028 show that rising personal debt is increasingly preventing many Kenyans from meeting basic needs such as food, school fees, and medical expenses. The report also links growing financial pressure to deteriorating mental well-being.
“Financial pressure is no longer just an economic challenge, but an emotional one as well, often affecting mental health in ways that remain hidden,” Mutea said.
He added that financial literacy plays a critical role in improving financial health and easing stress associated with debt, which remains a key driver behind Mogo’s continued investment in community education programmes.
The company says it will continue expanding the outreach programme in the coming months as part of its commitment to promoting responsible borrowing and supporting sustainable livelihoods across Kenya.