Kenya’s population of High-Net-Worth Individuals slipped by 22 per cent last year, a new survey reveals. According to Knight Frank survey, High-Net-Worth Individuals (HNWIs) are those worth over Sh108 million (one million US dollars)The survey shows that the population of High-Net-Worth Individuals (HNWIs) slipped by 22 per cent last year, compared with a global decline of just 8 per cent. Over the next five years, the wealth sizing model predicts the population of the rich in Kenya will bounce back by 46 per cent. Last year was challenging to many due to the effects of Covid-19 which affected nearly all sectors of the economy. This gives policymakers and investors, insight into behaviour and attitudes to understand market and asset performance,” says Andrew Shirley, editor of The Wealth Report at Knight Frank.

Source: Standard Digital February 24, 2021 12:11 UTC