The Lower Eastern Times Opening The Third Eye
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According to the latest survey conducted by Infotrak, a significant number of Kenyans are turning to alternative sources of employment or additional income as a coping mechanism during challenging economic conditions.
Released on Monday, the survey revealed that 45% of respondents have adopted this strategy for survival.
The findings highlighted that both males (47%) and females (42%) are actively engaging in seeking side hustles to supplement their income. Additionally, the survey noted that a considerable portion of the population is curbing non-essential expenditures, with 41% of respondents choosing this method to navigate through tough economic times.
The report emphasized, “Getting a side hustle and reducing non-essential expenditure are the main strategies adopted by Kenyans to cope with the economic hardships.”
Apart from seeking additional employment and cutting back on expenses, the survey outlined various other tactics employed by Kenyans to navigate the challenging economic climate. These include taking out loans (18%), utilizing community resources (16%), borrowing money from friends or family (15%), seeking financial counseling and assistance (8%), using credit cards (4%), rationing (3%), and reducing the number of meals per day (1%).
Conducted between December 18 and 19, 2023, the survey gathered responses from a sample size of 1,500 individuals, shedding light on the diverse strategies adopted by Kenyans to address economic difficulties.
