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Kenya mints 180 new dollar millionaires despite sluggish economy - 8 Mar 2018 13:42

Annie Njanja

Kenya created 180 new dollar millionaires in 2017, growing the number of persons with a net-worth of over Sh500 million shillings to 1,290. According to a new report, the tough economic times that prevailed due to biting drought and an extended electioneering period did not slow down individual wealth growth among a select few. Data from Knight Frank's Wealth Report indicates that there was a 16.2 per cent growth in the number of the super-rich from 1,110 recorded in 2016. According to the report, out of the 1,290 dollar millionaires, 90 were worth Sh5 billion with less 10 individuals estimated to have a net-worth of over Sh50 billion. The number of wealthy Kenyans worth at least Sh500 million is also set to grow further by 74 per cent over the next five years to 2,070 in 2022. Knight Frank’s 2018 wealth report shows that Nairobi’s population of the super rich ...
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