The number of Kenyan’s becoming millionaires is growing by the day according to a report by real estate firm Night Frank.
This number has doubled over the last ten years an indication that Kenya is fast emerging as one of the best countries in the world to invest in.
Night Frank on Thursday revealed its latest wealth report showing the growing numbers of millionaires in Kenya saying the country has the fourth highest number of millionaires in Africa standing at 8,764.
The company says Kenya has a high concentration of wealth because of it’s rapid growth which is making it emerge as a regional hub in Africa.
Initially many Kenyan’s were investing overseas but now the trend seems to be changing whereby many have now started to focus on investing their money inside Kenya and raising their stakes in the local property market.
Currently Real Estate is the worlds number one investment choice for the wealthy people of this world, and Kenyan’s are not being left behind.
So why has Kenya gained so much ground? Egypt which was once Africa’s hub, has been thrown into turmoil following the political instability the country is experiencing and the middle East region as whole.
Many investors are seeking more avenues of making more money and that’s why they are not stationed in one place because of several issues that dictated that. They are taking more risks.
Analysts say Kenya’s millionaires will grow from 8,764 in 2014 to 15,249 in 2024.
Many international companies are now stationed in Kenya an indication of the growth in spending power that the country is experiencing. KFC, Google, Pepsi, just to name but a few.
This according to the report is because many of the international companies have realized the potential Kenya has.
