The high cost of education is expected to further push the cost of living for most families in Kenya.
According to global payments firm WorldRemit, families in will pay more than 1.75 times their monthly earnings on school supplies this back to school season.
In its 2022 Cost of School study, the firm said the increase is mainly due to supply glitch that has seen cost of production go up.
With the August back-to-school rush, the study, first launched in August 2021, observed that spending on education has increased across 21 markets worldwide, Kenya included.
The study compared the average cost of basic educational needs with average annual incomes and fertility rates to determine the season’s financial impact on families around the world.
The country’s inflation hit a five-year high of 8.3 per cent at the end of July, just days to the 2022 general elections. This mainly on rising food prices.
World Remit findings show that the average household income decreased by four per cent, fertility rates remained steady and the cost of basic school supplies increased by more than seven per cent on average.
Due to the increase, families in Morocco, Cameroon, Ghana, Kenya and Guatemala are all projected to spend more than the average monthly income on education.
The average living wage in the country is estimated to be Sh21,504 according to financial firm Trading Economics.
Victor Okumu, a father of two told the Star he is spending more on his kids education supplies than he used to three years ago.
"From games kits, books, uniforms and even school fees, they are expensive. Plus I spend at least Sh500 weekly on assignment paraphernalia for my grade three daughter," Okumu complained.
Confirming the inflation-induced hike, education lobby Usawa Agenda executive director Emmanuel Manyasa said the situation could be tougher than what is captured the WorldRemit report.
"The cost of everything has gone up. Food, transport, water, electricity, fuel, paper, chalk etc. All these are used in schools and so the cost of providing education not just in Kenya, but globally, has gone up," Munyasa said.
He, noted that to the contrary, the high cost of education has nothing to do with the new system, Competency Based Curriculum (CBC).
"The 1.75 per cent depends on the base used by WorldRemit. If the base is annual, the rate of increase is way higher than that,"he said.
World Remit recently connected with 3,000 international money senders to learn how inflation is impacting their daily behaviour and spending habits.
The group listed educational support as one of the three primary reasons they send money overseas, but noted that as a result of the rising living costs, 52 per cent now send money to fewer people bank home, with 72 per cent only supporting close family.
In its recent report, WorldRemit projected the back-to-school rush to boost diaspora remittances this month.
It is expected inflows will increase after a 3.2 per cent drop to $326.1 million (Sh38.6 billion) in June, compared to Sh39.96 billion sent in May.
Average monthly remittances are expected to go above the Sh40 billion mark.
Education and health remain the leading uses and purposes of sending money back home by Kenyans living abroad, according to a survey by World Remit, with the US the main market source.
CBK’s data shows 20 per cent of diaspora remittance is received by mothers, compared to 10 per cent for fathers.
Gulf states such as Saudi Arabia, United Arab Emirates, Qatar, and Bahrain have also emerged as important destinations as more Kenyans continue to look for opportunities abroad.
CBK data indicates that the leading source in this region is Saudi, followed by Qatar and UAE.
The World Bank has also projected that remittance flows to low- and middle-income countries will increase by 4.2 percent this year to reach $630 billion (Sh74.2 trillion).
