A paltry 125 Kenyans own more wealth than over 46M others combined. A report by Oxfam has revealed.
Oxfam says over 20M Kenyans live in extreme poverty, while a CEO in one of the largest corporations earns 214 times more than a teacher.
The report further notes that in 2024, out of every Ksh100 taken in taxes, Ksh68 were used to repay debt.
“This is twice the education budget and nearly 15 times the national health budget,” Oxfam notes in the report.
Further, the report says that Kenyan job market is awfully volatile, with 85% of the country’s workforce being informal. The results it says has powered significant pay and gender gaps, as well as declining wages.
“The likelihood of securing well-paying jobs today is highly dependent on family backgrounds and solid connection” it adds.
You can read the full report here