The Kenya 2016 Wealth Report

  • ID: 3726998
  • Report
  • Region: Kenya
  • 30 pages
  • New World Wealth
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The Number of Kenyan HNWIs to Grow by 80%, to Reach Approximately 15,300 by 2025


  • African Alliance
  • CBA Bank
  • CIC Group
  • Dry Associates
  • FNB
  • Pictet
  • MORE

Kenya is the top performing major African market for HNWIs. This report provides a comprehensive review of the wealth sector in Kenya, including HNWI trends, wealth management trends and luxury trends in the country.

- Demographics including city, suburb and sector breakdowns of local HNWIs.
- Spending habits of Kenyan HNWIs, including: collectables, prime real estate, second homes, travel, liquor, private jets, luxury clothing, luxury cars and behavioral mapping.
- Detailed review of local wealth management sector.
- Independent market sizing of local HNWIs across five wealth bands.
- Kenyan wealth scorecard - insights into the drivers of HNWI wealth in Kenya.
- Review of luxury tourism industry in Kenya.

Key Highlights:
- Kenya is the 4th richest country in Africa (in terms of individual wealth held) after South Africa, Nigeria and Egypt.
- During the review period, Kenyan HNWI volumes increased by 60% from approximately 5,300 HNWIs in 2007 to 8,500 HNWIs in 2015. This made Kenya one of the top performing countries in Africa during this period.
- Residential property constitutes around 35% of the net assets of an average Kenyan HNWI. This is a relativity high percentage when compared to other African countries. Popular properties for Kenyan HNWIs include beachfront villas and homes in residential estates. Many wealthy Kenyans are also large landowners.
- We expect the number of Kenyan HNWIs to grow by 80%, to reach approximately 15,300 by 2025. This will make it one of the top 20 performing countries in the world over this period.
- The Kenyan wealth management sector is set to benefit from strong growth in HNWI wealth in other East African countries (Tanzania, Uganda, Rwanda) which have less-developed banking systems – HNWIs in these countries may choose to use Kenyan banks.

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  • African Alliance
  • CBA Bank
  • CIC Group
  • Dry Associates
  • FNB
  • Pictet
  • MORE
1 Introduction
1.1 What is this Report About?
1.2 Definitions
1.3 Sources and methodology

2 Wealth Sector Fundamentals
2.1 Regional landscape
2.2 Economic Review
2.3 Benchmarking Kenya’s Wealth in Context
2.3.1 World statistics
2.3.2 Distribution of wealth in Kenya
2.3.3 HNWI volume and wealth trends
2.4 Kenya’s wealth scorecard & growth prospects

3 Findings from HNWI Database
3.1 HNWI city breakdown
3.2 HNWI industry breakdown
3.3 Trends in higher wealth bands: multi-millionaires

4 Spending habits of Kenyan HNWIs
4.1 Behavioral mapping
4.2 Collectables
4.3 Prime real estate
4.4 Second homes abroad
4.5 Second homes in own country
4.6 Travel & Dining
4.7 Largest luxury markets
4.8 Luxury clothing & accessory brand stores
4.9 Luxury cars
4.10 Exclusive liquor
4.11 Private jets
4.12 Other popular luxuries for Kenyan HNWIs

5 The Wealth Management Sector in Kenya

6 Luxury tourism in Kenya

7 HNWI summary - Africa

List of Tables
Table 1: Kenya: HNWI wealth band and group definitions
Table 2: Kenya: Cities by population, 2015
Table 3: Kenya: Top cities for HNWIs, 2015
Table 4: Kenya: Trends in Art, Wine and Wheels, 2007 - 2015
Table 5: Africa: Major cities ranked by US$ per square meter, 2015
Table 6: Kenya: Top foreign second homes hotspots for Kenyan HNWIs, 2015
Table 7: Africa: Largest luxury markets by revenue, 2015
Table 8: Kenya: Upcoming luxury brand stores, 2015
Table 9: Kenya: Top selling luxury cars, 2015
Table 10: Kenya: Upcoming car dealerships in Kenya, 2015
Table 11: Kenya: Popular alcoholic drinks for HNWIs in Kenya, 2015
Table 12: Africa: Private jet usage by country, 2015
Table 13: Kenya: Popular luxury items bought by Kenyan HNWIs, 2015
Table 14: Kenya: Companies that offer wealth advisory services in Kenya, 2015
Table 15: Kenya: Foreign private banks that have expressed interest in Kenya, 2015
Table 16: Africa: Most visited countries by the super-rich, 2015
Table 17: Kenya: Top rated hotels & lodges for the super-rich, 2015
Table 18: Africa: HNWIs by country, 2015

List of Figures
Figure 1: Kenya: Map of country
Figure 2: Kenya: Asset Price Performance (US$ terms), 2007–2015
Figure 3: Kenya: HNWIs by Industry, 2015
Figure 4: Kenya: Behavioral Mapping of HNWIs, 2015

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- African Alliance
- Barclays
- CBA Bank
- CFC Stanbic
- CIC Group
- Credit Suisse
- Dry Associates
- Ecobank
- Nabo Capital
- Pictet
- Private Wealth Capital
- Standard Chartered
- Stanlib

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