Eldas MP Keynan urges expansion of financial access in Northern Kenya
By Aloys Michael, July 30, 2025Eldas Member of Parliament, Adan Keynan, has made a passionate appeal to the government to prioritise the expansion of financial services in Northern Kenya, highlighting their pivotal role in promoting inclusive economic development, especially for pastoralist communities.
Speaking during a plenary session in the National Assembly on Wednesday, July 30, 2025, Keynan sought a formal Statement from the Chairperson of the Departmental Committee on Finance and National Planning.
He emphasised the need for clarity on the government’s strategies to address the acute shortage of banking and financial institutions in the northern region, a challenge he said continues to stifle economic progress.
“There has been a shortage of adequate banking and financial institutions in Northern Kenya. This shortage has negatively affected the residents, who are predominantly dependent on pastoralism, trade, and informal micro-enterprises,” he said.
Keynan underscored that financial institutions are critical enablers of development. He stated that the expansion of both physical banking infrastructure and digital financial services is essential to empower local communities, enable savings and investment, and promote enterprise development.
He also stressed that the inclusion of marginalised groups, such as women, youth, and persons with disabilities, should be a central pillar of this expansion.
The MP called for the creation of financial models that align with the lifestyle and mobility patterns of nomadic populations. He posed a direct question to the Committee.
“What are the plans that the Government is putting in place to ensure that financial institutions model their services to the nomadic lifestyle, address insecurity, and overcome infrastructural challenges?” he posed.
Keynan also proposed a comprehensive policy framework to incentivise banks, microfinance institutions, and fintech companies to establish a stronger presence in Northern Kenya. He urged the government to provide tax incentives, improve digital infrastructure, and enhance financial literacy initiatives.
“We must ensure that the financial divide is bridged by partnering with government agencies, non-governmental organisations, and the private sector,” he said.
The Departmental Committee on Finance and National Planning is expected to issue a formal response within two weeks, detailing the steps being taken to promote financial access and inclusion in the region.