Eldas MP Adan Keynan has urged the government to prioritise the expansion of financial infrastructure in Northern Kenya, warning that the continued lack of adequate banking services is slowing economic growth and locking out communities from opportunities.

Speaking in the National Assembly on Wednesday, Keynan pressed the Chairperson of the Departmental Committee on Finance and National Planning to outline the steps being taken to address limited access to financial institutions in the region.

“There has been a shortage of adequate banking and financial institutions in Northern Kenya. This shortage has negatively affected the residents, who are predominantly dependent on pastoralism, trade, and informal micro-enterprises,” he said.

He stressed the importance of financial institutions in transforming lives, especially in historically marginalised areas, noting that they are critical to enabling innovation, resilience, and prosperity.

“Financial institutions serve as engines of economic development. Expanding banking infrastructure both physical and digital is essential to transition households from subsistence to stability,” he said.

The legislator called for banking models that are responsive to the unique challenges of pastoralist communities, including insecurity, poor roads, and nomadic livelihoods.

“What are the plans that the Government is putting in place to ensure that financial institutions model their services to nomadic lifestyle, address insecurity and infrastructural challenges being faced by the pastoralist communities of Northern Kenya,” he asked.

He proposed a comprehensive framework to guide both traditional banks and fintech players to extend their services to underserved populations. According to Keynan, improving access to affordable credit must also be a central part of this strategy.

“We must ensure that the financial divide is bridged by partnering with government agencies, non-governmental organisations, and the private sector,” he added.

The Eldas MP also called for clarity on government measures to boost the spread of digital and physical financial services, especially in hard-to-reach areas. He asked for a detailed plan on financial literacy initiatives and incentives aimed at supporting women, youth, and persons with disabilities.

“What measures have you put in place to ensure financial literacy programmes targeting women, youth, and persons with disabilities and what incentives do you have to promote access to affordable credit,” asked Dr. Keynan.

The Finance and National Planning Committee is expected to issue an official response to the matter within two weeks.