Majority of Kenyans see financial situation improving in next 6 months: report

NAIROBI, Feb. 7 (Xinhua) -- Three-quarters of Kenyans are optimistic that their financial situation will improve in the next six months, economic experts said in a new report released on Wednesday.

According to experts from the Old Mutual Financial Services Monitor (OMFSM), owning or running a small business is a key thought in many Kenyans' minds.

"There is some optimism among Kenyans despite the current challenging environment," said Arthur Oginga, the chief executive officer of Old Mutual East Africa Group, during the launch of the report in Nairobi, the capital of Kenya.

Oginga said currently only 26 percent of Kenyans are actively saving for retirement as they hope their children will provide support in old age.

The report, which provides comprehensive insights into the Kenyan financial landscape, is an annual publication that is produced by Old Mutual which is an African financial service company that operates in 13 African countries and in China.

The report highlights Kenyans' top financial priorities as income security, expense reduction, and debt repayment.