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

The number of Kenyans with a networth of one million dollars (Ksh129 million) dropped by 400 between December 2023 to June 2025.

As detailed in the 2025 Africa Wealth Report by Henley and Partners, the number of dollar millionaires stood at 6,800 in June 2025 in comparison with 7,200 that was reported in December 2023.

This change has been attributed to the move by rich Kenyans to move their wealth abroad owing to economic uncertainties in Kenya, which have also witnessed protests in the last two years in the month of June.

Out of the 6,800 dollar millionaires in Kenya, 4,200 are based in Nairobi, with the others distributed across the country.

"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.

Despite the drop, Kenya retains its position among the top five countries with dollar millionaires in Africa.

At the top position is South Africa, which has 41,100 dollar millionaires, followed by Egypt, which has 14,800 dollar millionaires.

Morocco, which has overtaken Kenya, now has 7,500 dollar millionaires, followed by Nigeria at 7,200. Kenya is fifth in Africa.

Centi-Millionaires (Networth of Ksh12 Billion).

According to the report, 16 Kenyans have a networth of Ksh 12 billion and above. Unlike dollar millionaires, the number of centi-millionaires has not changed between December 2023 and June 2025.

In the centi-millionaire category, South Africa still leads by 112, followed by Egypt at 49.

Morocco has 35 centimillionaires while Nigeria has 20 centimillionaires. Other notable countries are Mauritius (14), Algeria (10), Ghana (8), Ethiopia (7), Tanzania (5), Uganda (5), and Rwanda (3).

Currently, there is no Kenyan who is worth above Ksh129 billion. 

Future of Wealthy Kenyans in Mombasa 

Henley and Partners identified Mombasa as a future hotspot for wealthy Kenyans. This was attributed to the presence of several eco-estates.

"Mombasa is Kenya’s main coastal city. There are several eco-estates on its outskirts that are attracting high-net-worth individuals, including the well-known Vipingo Ridge," the report highlighted.

"Overall, Africa’s millionaire numbers are expected to rise by a healthy 65% over the next decade, with solid growth projected in most major cities. We expect the key wealth-creating industries to be fintech, eco-tourism, software development, green tech, e-commerce, rare metals mining, healthcare and biotech, media and entertainment, and wealth management."