Is State's digital push fuelling youth debt and betting crises?

Whenever a speech is given on how to improve the lives of youth in Kenya, technology is invariably presented as the answer - an equaliser of sorts amid the country's economic inequality.

It is the premise on which President William Ruto built his campaign strategy in 2022. He went on a frenzy, promising the installation of 100,000 km of fibre network and the setting up of internet hotspots. His digital masterplan targeted 25,000 public Wi-Fi hotspots across all wards - more than 1,400 - by 2027.

In some of his events, he presented youth who had benefited from this, talking about how they are able to work online.

“Wewe utashindwa kufinya computer upate dollar (how difficult is it to make a few clicks on the computer and make some dollars?”, he posed in one of the events to demonstrate how beneficial the government’s initiatives have been, and how easy it is for the youth to become productive with just access to a computer.

But amid this aggressive government push to make technology and the internet accessible to all, more young people are losing their incomes through the same means.

A new report by Old Mutual, a financial services company, shows working youth are getting hooked on debt and betting.

These activities, the firm's study found, are associated with the increase in the cost of living and have also affected their financial planning.

That even as their financial position is improving, many of them continue to face pressure from debt and the cost of everyday living.

“More than four in 10 (43 per cent) have borrowed to meet everyday expenses, while 26 per cent have taken loans to purchase stock or fund business activities. Mobile money loans remain the most common source of credit at 39 per cent,” the report says.

Old Mutual notes that sports betting is emerging as a notable financial behaviour among this population. It adds that nearly a quarter (23 per cent) of young respondents participate in sports betting, with participation significantly higher among young men.

“Sports betting is emerging as a financial risk; 23 per cent of youths participate in sports betting; 55 per cent of those who bet do so in an attempt to make extra money, while 40 per cent report experiencing financial difficulties as a result,” reads the report.

This betting craze was also highlighted in a Geopoll survey released in June 2026. The findings note how betting is the most active digital consumer activity in sub-Saharan Africa, with Kenya leading the pack of the six countries surveyed.

“Betting participation is high across the region. Asked whether they had placed a bet in the past 12 months, between 54 and 64 per cent of respondents said yes, led by Kenya at 64 per cent and Ghana at 60 per cent,” reads the Geopoll findings titled Research Report: Betting in Africa 2026.

Tanzania comes in third with 59 per cent, South Africa 58 per cent, Uganda 57 per cent and Nigeria 54 per cent.

Football is the main betting activity (67 per cent) followed by aviator (13 per cent), casino (11 per cent), lotteries (five per cent) and others (four per cent).

“More than half of adults in these markets bet in the past year, which is a large and mainstream audience,” the survey says.

Geopoll notes that betting largely runs on mobile platforms. These are the same platforms that the government hopes the youth will use to improve their lives through online jobs.

“Share of bettors spending $50 (Sh6,500) or more per month: Uganda 17 per cent, South Africa 11 per cent, Ghana 10 per cent, Nigeria and Tanzania nine per cent, Kenya seven per cent. Uganda’s higher spend paired with its lower daily-plan rate suggests fewer but larger stakes,” the survey says.

Such expenditures then explain why just 36 per cent of those who were polled by Old Mutual say they have savings that can sustain them for more than three months if they were to lose their source of income.

“Long-term financial preparedness also remains limited,” the release says. It explains that only 26 per cent are actively saving for retirement, with the main barriers being feeling too young to start (35 per cent), insufficient funds (30 per cent) and retirement not being an immediate priority (30 per cent).

“Consequently, 79 per cent lack confidence that their retirement savings will ultimately be adequate,” the findings state.

Yet saving remains a priority among young people, with 97 per cent reporting that they have a savings goal. And they already have plans once they save enough.

These include starting a business (29 per cent), investing in an existing business (23 per cent), funding their children’s education (21 per cent), buying a home (20 per cent) and building an emergency fund (19 per cent).

The findings portray young people aged 20–29 as the most optimistic,  with 83 per cent expressing a positive financial outlook.

The findings state that financial satisfaction among the group increased from 34 per cent in 2024 to 45 per cent in 2025, while 42 per cent reported earning more than they did a year earlier.

It also speaks of a generation adapting to financial pressure by broadening how it earns, saves, and manages money even as significant gaps remain in emergency savings, business insurance, retirement planning, and debt management.

“Young Kenyans are increasingly building their financial lives around more than one source of income. The growth of entrepreneurship and diversified income streams demonstrates strong adaptability.

However, this progress needs to be matched by greater financial protection, emergency savings and long-term planning if it is to translate into sustainable financial security,” said Old Mutual Group Head of Marketing and Communications Annie Nibishaka.