Kenya sees the slow growth of people with a high networker in the middle of economic headwind knights Frank

According to a new survey by real estate consulting company Knight Frank, Kenya recorded only modest growth in its population of people with high network value (HNWIS) in 2024.

The report shows that the number of HNWIS rose by less than 10 percent between 2024 and 2025. With regard to the expansion of the assets, only 17 percent of those surveyed stated an increase of between 11 and 20 percent, while none of them found an increase of more than 70 percent, which signaled a persecuted moment between the wealthiest individuals in the country.

Knight Frank defines a person with a high network as someone with a net assets of at least $ 1 million (approx. 13 million SH for the current exchange rate).

The advice attributes the slow growth to the challenges that result from an hurtful economy and the increasing fiscal pressure during the review period.

“The economic expansion of the Kenya slowed down in 2024, with GDP growth alleviating in the first quarter of 2024 to 4.0 percent compared to the previous year, which is due to 6.0 percent in the corresponding period of 2023,” the report said.

“The most important sectors, which are of crucial importance for the creation of prosperity, such as construction (-2.0 percent) as well as mining and quarries (-11.1 percent), closed themselves significantly and limited the possibilities for quick capital accumulation in the event of emerging HNWIS.”

The report also quotes financial difficulties and episodes of social unrest as other contributors for the sluggish pace of property generation.

Revised down

According to the World Bank, Kenya's GDP growth was revised from 5.0 percent from 2024 from 2024 due to tax restrictions, severe floods and widespread government protests to 4.7 percent.

The unrest, especially in June 2024, after the introduction of controversial tax increases within the framework of the Finance Act, led to market instability, disorders and occasional volatility, undermining investors and the disability of the creation of prosperity.

In the top stage of the asset pyramid, which were only identified six percent of the respondents as clock wis (Ultra-High-Net-Net-Cube), portfolios manage over $ 1 billion (about $ 13 billion).

“This number reflects the small number of Uhnwis in Kenya, a typical trend in emerging countries on which extreme prosperity focuses on some,” the report said.

A person with ultra-houle network value is defined as someone with a net assets of $ 30 million (3.9 billion SH) or more. Such people often have diversified portfolios worldwide and important participations in the most important Kenyan companies.

Careful optimism

With a view to the future, there is cautious optimism between Kenya's high -network elite. Almost half (48 percent) of the respondents only expect marginal increases in wealth in 2025, whereby the strong taxation and the persistent fiscal pressure are listed as obstacles to the trust of the company and the growth of profit.

Knight Frank notes that the current climate of fiscal tightening and economic uncertainty limits the potential for considerable profit gains in its customers.

“Despite favorable growth forecasts, Kenya continues to deal with a continuing budget deficit and a high level of external debt. The government forcing these challenges to pursue conservative tax strategies, which in turn slowed down the pace of creating prosperity,” adds the report.

Although almost half of the respondents expect modest profits, nobody predicts a great decline, which reflects a level of trust in the long -term economic foundations of the country.

The National Ministry of Finance is projecting economic growth for the 2025/26 financial year to float around 5.3 percent, and is burdened by a resilient private sector and a proactive monetary policy.

The latest political moves, including the decision of the Central Bank, to reduce its benchmark interest rate from earlier amount from 13 percent to 10 percent, will expected borrowing and the general economic activity of the private sector.