Eldas Member of Parliament Adan Keynan is calling on the national government to boost economic growth in Northern Kenya by building more banks and expanding access to financial services in the region.
His proposal, made during a parliamentary session on Wednesday, July 30, aims to support the largely pastoralist communities in areas that have long been underserved by mainstream financial systems.
According to Keynan, the shortage of financial institutions has significantly hindered the region’s development.
Many residents rely on pastoralism, small-scale trade, and informal businesses to survive, but without access to formal banking services, they remain locked out of meaningful economic progress.
He emphasized that the lack of banks and accessible financial services has not only slowed down commercial activity but also prevented residents from accessing affordable credit and savings facilities—critical tools for improving livelihoods.
The MP also urged the government to roll out financial literacy programs targeted at vulnerable groups, including the youth, women, and persons with disabilities.
He argued that equipping these groups with basic financial knowledge would improve business participation and unlock untapped economic potential across the region.
“Financial institutions are the backbone of any thriving economy,” Keynan told the House. “We must increase both physical and digital access to banking services if we are serious about moving Northern Kenya from mere survival to true stability and growth.”
Beyond expanding financial infrastructure, Keynan said that the effort must go hand in hand with major upgrades to the region’s physical infrastructure, such as roads and communication networks.
He also stressed the importance of strengthening security, noting that insecurity has been one of the biggest obstacles to progress in pastoralist areas.
The MP went further to request that the National Assembly’s Departmental Committee on Finance and National Planning deliver a comprehensive report outlining what the government is doing to scale up both physical and digital banking services in Northern Kenya.
He questioned whether the government had any concrete plans to adapt financial services to the nomadic way of life practiced in these regions, while also tackling the pressing challenges of insecurity and poor infrastructure.
“What concrete strategies is the government putting in place to ensure that financial institutions tailor their services to fit the lifestyle of nomadic communities? How will they also address the long-standing issues of insecurity and underdeveloped infrastructure in Northern Kenya?” Keynan posed to Parliament.
His demands come just days after Central Bank of Kenya (CBK) Governor Dr. Kamau appeared before the Senate Standing Committee on Devolution and Intergovernmental Relations.
During the session on Thursday, July 24, Dr. Kamau disclosed that the CBK currently lacks the constitutional authority to shut down unauthorized bank accounts opened by county governments.
This followed a damning report from the Controller of Budget, which revealed that as of September 30 last year, governors had opened over 2,400 illegal bank accounts—raising concerns about transparency and financial discipline at the county level.
Dr. Kamau emphasized the urgent need to tighten existing laws so that institutions like the CBK can enforce compliance and ensure counties do not bypass legal financial procedures.
In light of these revelations, MP Keynan’s call to expand regulated, accessible, and inclusive financial services in underserved areas like Northern Kenya is gaining more relevance, especially as the country works to strengthen its economic framework and promote equal development across all regions.
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