Kenyan has been ranked fourth top African countries based on the super-wealthy persons according to the Africa Wealth report for 2019 report published.
Please note the billions are in USD not Kenya shillings.
The report by AfrAsia Bank ranked South Africa top with 2,169 billionaires, Egypt with 932 and Nigeria with 531.
About 356 billionaires were living in Kenya last year, placing the country at number four in a ranking of top African cities based on the super-wealthy persons.
These individuals have net assets above $10 million (Sh l billion).
The report says total wealth held by Kenyans increased 64 per cent over the past decade, but reckon the riches took a knock last year following the loss of nearly a fifth of the market value of the Nairobi Securities – Exchange (NSE).
The bulk of the Kenya billionaires made their wealth from manufacturing, real estate and technology sectors.
This was even as the sluggish performance of the equities market in recent years reduced its power as the shortest route to riches.
Nairobi accounted for 73 percent of Kenya’s billionaires reflecting the capital city’s economic dominance.
Which are some of the Kenyan billionaires you know? And do they inspire you?