125 Kenyans Own More Than the Combined Wealth of 43 Million Citizens – Report

A report by Oxfam has highlighted wealth inequality in Kenya, showing that 125 individuals collectively hold more wealth than 42,6 million Kenyans, which is equivalent to 77% of the population.

According to the Kenya’s Inequality Crisis: the Great Economic Divide Report released on November 26, 2025,  between 2019 and 2023, the richest Kenyans grew their wealth twice as fast as the majority of Kenyans. 

Since 2029, the wealth of rich Kenyans is reported to have increased by 22%. Conversely, Kenyans in the bottom half of the population saw their wealth reduce by 4%.

Read more: Number of Kenyans With Ksh129M Networth Drops by 400 in 18 Months

Data insights

• If the wealth held by the richest 125 Kenyans were converted to Ksh100 notes, it would be enough to cover almost the entirety of Nairobi County
• A CEO in the ten biggest companies earns, on average, 214 times more than a teacher.
• The average increase in pay for CEOs in the top ten listed companies between 2023 and 2024 is equivalent to six years’ pay for a teacher in a public school. 

Reasons behind the inequality

According to the report majority of Kenyans have been impacted by tax reforms that have been pushed by global financial lenders such as the International Monetary Fund (IMF).

"Economic elites are using their economic power to concentrate political power, acquiring more wealth," read the report in part.

"IMF-imposed austerity measures, such as tax hikes that affect people on lower incomes and government budget cuts, are further widening the gap between the rich and the rest. Inequality was at the heart of the nationwide protests in June 2024."

Oxfam also noted that there was no political will to address the inequality that exists.

Read more: Where are Kenya’s Wealthiest Keeping Their Money

As a result, the non-governmental organization called on the government to undertake tax reforms to enable low-income earners to create more wealth.

"With the right policy mix and political commitments, Kenya can and should drastically reduce inequality," read the report in part.

"Progressive taxation; investment in essential universal public services like education and healthcare; quality jobs; and land justice would make it a more equal and fair country that is free of poverty. 

A recent report by Henley and Partners showed that there were 6,800 individuals in Kenya with a networth of Ksh129 million. This figure, recorded in June 2025, was a drop of 400 from the figures recorded in 2023.

Out of the 6,800 individuals, 4,200 are based in Nairobi.

Meanwhile, only 16 Kenyans have a networth of Ksh 12 billion and above.

"East Africa’s economic engine Nairobi, is home to some of Africa’s oldest and most well-established luxury residential neighborhoods, including Karen and Muthaiga. It accounts for a high 47% of Kenya’s total wealth and over 60% of the country’s millionaires. 

"Unlike other cities near the equator, Nairobi is known for its mild and temperate climate — the city is located at an altitude of around 1,800 m above sea level, which helps to keep temperatures relatively cool," read the report in part.