Kenya Slips in Africa’s Millionaire Rankings as Wealthy Population Declines
Business Updated: 03 September 2025 16:16 EAT
Kenyan notes
Kenya’s population of dollar millionaires has fallen sharply, dropping by 400 over the past 18 months to 6,800 in June 2025, down from 7,700 in 2022, according to Henley & Partners.
The decline has been attributed to slower economic growth, high borrowing costs, and rising capital outflows. As a result, Kenya has slipped to fifth place in Africa’s wealth rankings, behind South Africa (41,000), Egypt (14,800), Morocco (7,500), and Nigeria (7,200).
Despite its vibrant economy and strong tech sector, Kenya has struggled to retain high-net-worth individuals, with many relocating capital abroad or seeking more stable investment environments.
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FELIX MAKONA
FACT FINDER AND DATA DRIVEN JOURNALIST. DATA MINING AT IT'S BEST. GET FACTS RANGING FROM MATTERS DISABILITY AND INCLUSION, POLITICS, ECONOMY, SPORTS AND GENERAL NEWS AROUND THE WORLD