NAIROBI, Kenya, July 14 – The number of high-net-worth individuals (HNWIs) in Kenya increased by up to 20 percent in 2026, up from growth of up to 10 percent recorded last year.
The latest Knight Frank Wealth & Investment Trends report indicates that 44 percent of wealth managers experienced growth of between 11 and 20 percent in their HNWI client base, defined as individuals with liquid financial assets of Sh129.4 million ($1 million) or more, from 2025 to 2026.
“In addition, 31 percent of respondents indicated growth of up to 10 percent in their HNWI client base. While this reflects more moderate expansion, it still points to a broad-based upward trend in wealth accumulation across the market,” the report states.
“Importantly, the shift in distribution, from predominantly sub-10 percent growth in 2025 to a stronger concentration in the 11–20 percent range in 2026, suggests improving momentum in high-value wealth creation.”
However, the report shows that only 6 percent of respondents reported managing portfolios valued between $501 million and $1 billion, compared to the previous year when the same proportion reported managing portfolios exceeding $1 billion.
“This reflects a slight downward recalibration in the ultra-high-net-worth segment classification but continues to underscore the scarcity of UHNWIs in Kenya,” the report states.
“Consistent with other emerging markets, extreme wealth remains highly concentrated among a limited cohort, reinforcing the narrow apex of the country’s wealth distribution. Sophisticated financial planning services.”
