Salaried Kenyans are juggling side hustles to make ends meet – Report

By Steve UMIDHA

More salaried Kenyans are turning to side hustles as economic pressures and rising debts push them to seek supplemental income, according to a new consumer survey, with nearly three – quarters choosing to cut back on non-essentials.

As households grapple with a swath of bill increases and tax hikes – a host of which came into effect last year, the MoneyMarch 2025 survey by financial technology (fintech) company, Tala, also found that half of consumers who took part in the poll, are increasingly taking up loans more than they did last year to fund their second streams of income.

What’s more, respondents – about a third of them, say they have been borrowing more money since the beginning of the year, mostly in order to cover normal expenses like education (school fees), and daily expenditure on chows in attempt to manage the rising cost of living.

“Full-time employment is declining, while business ownership is on the rise. However, fewer workers are engaging in side hustles, signaling financial constraints in diversifying income streams,” the report reads in part.

It noted that 92% of consumers said rising costs affected their household budgets.

Indeed, available data shows that Kenyans are progressively relying on digital lending institutions like Jijenge Credit, Safaricom’s overdraft facility, Fuliza among other apps and informal borrowing networks for liquidity, with digital lending options accounting for nearly 60 percent of loans disbursed to adults.

This, economists say, is an indication of a dire cash circulation delinquent in a rickety economy.

Peter Macharia, the CEO of digital lender Jijenge Credit, while reacting to the report, notes that the side hustle boom is happening across every age group, income level and industry in the country.

“And it is unlikely to slow down, especially among the younger generations who are comfortable juggling multiple income streams thanks in part to a thriving Creative industry,” said Macharia, who is also the Chairman of the Digital Credit Providers Association Kenya.

According to Macharia, today the bulk of Kenyan SMEs are requesting larger loans to boost their operations, with his firm, Jijenge Credit now serving a growing number of medium-sized businesses and is reviewing considerably increasing its loan sizes to meet the growing demand.

The survey was conducted between January and February this year, with its drafters saying that, the “Investing in Future” survey, had explored how consumers earn, spend, save, borrow, and invest amid rising living costs and shifting financial behaviors.

It noted that key insights in the survey were established to help financial institutions, policymakers, and businesses support consumer resilience.