. the proportion of the financially excluded on the other hand has been falling steadily from 39. 3 % in 2006 to 31. 4 % in 2009 and now stands at 25. 4 % of the adult population. equally and more striking, the proportion of the population using informed financial services has declined to 7. 8 % from 35. 2 % in 2006 and 26. 8 % in 2009. these findings demonstrate impressive achievements and vindicate policy strategies and reforms undertaken by government and initiatives and innovations by the financial sector players ’ as having helped expand financial inclusion. it is even more interesting to note from the results that many more people are now accessing and using financial services and products supplied by diverse providers. this shows that people are now moving towards using a broader portfolio of financial services and products to satisfy their needs. the use of combinations of all formal prudential, formal non - prudential, other formal and informal financial services except the excluded has been rising from 16 % in 2006 to 25 % in 2009 and to 29 % in 2013. these patterns demonstrate that financial sector participants require choices and therefore the need to maintain diversity and encourage competition amongst providers of the different financial products in different market segments. ladies and gentlemen : the survey results we are releasing today are as a result of developments in the wider economy, policy and regulatory reforms, increased competition and innovation and advances in information and communication technology. these developments have set off a dramatic shift away from the traditional delivery of financial services. in the banking industry, the introduction of automatic teller machines ( atm ) a few years ago already moved customers out of the physical branches. and now more than ever, access through point - of - sale ( pos ) devices, the internet and mostly through mobile phones platforms have accelerated and are still poised to accelerate the swing to branchless banking. we, however, still have some ground to cover in expanding access to financial services, given that about 25 % of the population remains totally excluded. bis central bankers ’ speeches ladies and gentlemen : the information generated by the past three finaccess surveys will help financial service providers identify where opportunities exist. i am delighted that the sector now has such useful information resource at its disposal. in conclusion, ladies and gentlemen, let me also observe that the finaccess studies have been championed and driven by a partnership between public and private institutions. i commend and support such initiatives and hope that this lays the foundation for a deeper and sustained partnership between the public and private sector in

demonetisation — a step in the fight against corruption by dr. patrick njoroge on september 30, 2019, the withdrawal of the old series ksh. 1, 000 notes was successfully concluded. this demonetisation commenced on june 1, 2019, following the launch of kenya ’ s new generation notes. the new notes symbolize green energy, agriculture, social services, tourism and governance, that are the drivers of a newly reborn and prosperous kenya. in deciding to withdraw the older series ksh. 1, 000 notes, the central bank of kenya ( cbk ) assessed the grave concern that these notes were being used for illicit transactions and financial flows, in kenya and in the region. more recently, there has also been the emergence of counterfeits. both these concerns posed a threat to the credibility of kenyan currency, and required swift action. in designing the demonetisation strategy, cbk examined the experiences of other countries, such as australia, european union, pakistan, united kingdom, and most recently india. all considered, the critical consideration was to balance the objective of addressing illicit financial flows and counterfeits while ensuring that the process was not disruptive to the public and the economy. in this regard, a gradual approach over four months was preferred over an abrupt shock and awe approach. four key elements underpinned the strategy. first, ample public awareness was doubly important, also given that cbk had concurrently launched the new generation currency. it was critical that kenyans across the length and breadth of the country were made aware of the ongoing demonetization but also the features of the new currency. to this end, cbk with support from the banking sector and other stakeholders traversed the country — from nairobi to lunga lunga, kisumu to garissa, wajir to kakuma — engaging all kenyans in market places, barazas, streets, and bank branches. a multi - channel campaign was also executed, with over 15, 000 advertisements, coverage in social media, television, newspapers, and over 80 mainstream and vernacular radio stations. second, it was important to quickly provide and maintain a wide availability of the new currency. cbk worked closely with banks to ensure a smooth rolling out of new currency across the country and its availability. cbk ’ s immediate support to banks and other players was needed to recalibrate the verification and note - counting machines, atms, and parking payment machines so as deal with the new notes