Three hundred and six high net worth Kenyans joined the crème of the country’s wealthiest with an estimated fortune of more than Ksh100 million in 2018, the 2019 Knight Frank Wealth Report reveals. Knight Frank’s report which incorporates insights from NIC Bank and ICEA Lion Group shows that the number of dollar millionaires in Kenya ticked up in 2018 to 9,482 in 2018 up from 9,176 the previous year, representing a 3.3% growth which sums up 2018 as a good year for the upper crust.
Out of the 9,482 HNWIs, 125 were Ultra High Net Worth Individuals (UHNWIs) with a net worth of over Ksh3 billion. What’s more, the number of Kenyans worth Sh100 million is expected to grow 22% to 11,584 individuals in the next five years through to 2023.