Struggling Kenyan youths more extravagant than African peers – Report - The Sauce
Connect with us

Hi, what are you looking for?

Featured

Struggling Kenyan youths more extravagant than African peers – Report

YDx Youth

A Deloitte report has confirmed what Kenyan banks have known for the last few years: Kenyan young professionals spend more than they earn.

In spite of their relatively lower purchasing power, the Kenyan youth has affinity to the finer things of life compared to the richer youths in South Africa, Egypt, and Nigeria, says The Deloitte Consumer survey.

The survey interacted with 2,000 youths in the four countries and the overarching consensus is that youths from richer nations like South Africa and Egypt are more prudent when it comes to financial management.

However, the report indicates youths in Kenya and Nigeria see a rosy picture when it comes to their future earnings while SA and Egypt youths are a bit skeptical of improving standards

“In addition, more than one in three young consumers in Kenya and Nigeria think that the economic situation of their country is better today than it was five years ago. However, only one in five share that view in Egypt,” states the report.

Across the board, one in four youths surveyed aspire to buy well-known brands but issues of affordability varies in the four markets.

32 percent of Kenyan youths said buying well-known brands makes them feel good compared to 23 percent in Nigeria, 25 percent in South Africa and 20 percent in Egypt.

Interestingly, when asked; Would you spend a bit extra to keep up with the latest fashion? Kenyan youths who answered in the affirmative was the highest at 25 percent.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Some More Sauce...

Lifestyle

Kenyans on Twitter woke up to an explicit video that has since gone viral. In the video, a woman who is known on social...

Da Squeeze

Kenyan beauty Tanasha Donna Oketch recently opened up about her life. The 24 year old former radio presenter, musician and mother of one is...

Da Squeeze

Who remembers the time when sex was simple. Well, nowadays there are a lot of weird fetishes that we can’t even keep track of...

Featured

Ugandan TV journalist Simon Kaggwa Njala’s face has got to be one of the memed faces of 2019.   But how did this Ugandan...

Featured

The Free Mason society is known to be secretive and very private, but not anymore it may seem. The Freemason society based in Nairobi...

Da Squeeze

Kenya has a robust matatu culture and some people around the world love it. Award winning American singer and dancer Chris Brown yesterday (23.03.20)...

Da Squeeze

Is there a woman making your heart skip a beat? She might be a secret woman of your life.  Most women love, but they...

Featured

Ex Zimbabwean leader  Robert Mugabe was given a heroic state funeral on Saturday (14.09.19) and above all, he will be remembered for his great...