The number of super-rich Kenyans shot up to 27,473 last year even as the Covid-19 pandemic widened the chasm between the rich and the poor, a new wealth report shows. The fraction of Kenya’s multi-millionaires ($1 million and above) did not feature in the 2019 report as it was less than 0.1 per cent. The Global Wealth Report 2021 estimated Kenya’s adult population last year at 27.47 million, with nearly everyone (98 per cent) valued at less than Sh100,000. Among the African countries surveyed, Kenya had the third-highest number of HNWIs behind South Africa and Egypt, The Global Wealth Report 2021 showed. The rate at which Kenya minted millionaires between 2014 and 2019 was the fastest in the world, the wealth report by Knight Frank showed.

Source: Standard Digital June 23, 2021 21:00 UTC