Where Super-Wealthy Kenyans Invest Their Money

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A report by Knight Frank has revealed that Kenya’s super-wealthy individuals are increasing their holding of bonds, gold and cash.

 

According to the Wealth Report Attitudes Survey 2020, two-thirds of the wealth managers surveyed in Kenya report that their High Net Worth and Ultra High Net Worth clients increased their private equity investments, or plan to increase them soon.

 

The report found that the biggest increases in investments in the last one year was in equity investments through the stock market and in private equity investments to drive the growth of young businesses.


The super-wealthy are also holding onto their investments in property and collectables, such as works of art.

The report also found an exceptional rise in interest in action on climate change, with all surveyed wealth managers reporting that their clients were now more interested in climate change as a cause.

This extended to their consumption, with wealth managers reporting that 27 per cent of Kenya’s richest people would now prefer a hybrid or electric car over a traditional oil-fueled vehicle and that 47 per cent are working actively to reduce their carbon footprint.


What keeps the wealthy awake at night?

The country’s ultra-rich individuals are most worried about the impact of global economic uncertainty, followed by poor governance and Brexit.

As such, 91 per cent of wealthy Kenyans reported they were actively changing their investment strategies.

By Capital FM.

Do you want to be among the super-wealthy or ultra-rich individuals? Join us today at First and First Communications System (Fnfcom) to start making 4500Ksh daily.

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