Kenya has secured its place among Africa’s economic elite, being ranked in the Top 10 African countries with the highest number of millionaires and billionaires in 2025, according to a new report by Henley & Partners in collaboration with New World Wealth.
The report reveals that Africa is now home to 122,500 millionaires, 348 centi-millionaires (individuals with a net worth over $100 million), and 25 billionaires, showcasing the continent’s growing private wealth and investment potential. Kenya’s inclusion in this elite group highlights its rising economic status and growing class of high-net-worth individuals (HNWIs).
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Nairobi: East Africa’s Wealth Capital
At the heart of this economic surge is Nairobi, which emerged as East Africa’s wealth capital. The Kenyan capital ranked 4th among Africa’s richest cities, trailing only behind Johannesburg, Cape Town, and Cairo.
Nairobi’s rise is attributed to its vibrant financial services sector, growing tech ecosystem, and robust real estate development. Often dubbed the “Silicon Savannah,” the city has attracted significant investment in fintech, mobile banking, and digital innovation, further cementing its status as a regional economic powerhouse.
Kenya’s Growing Wealth Landscape
Kenya’s growing population of millionaires reflects a maturing economy and a rising middle class. The report credits key sectors like finance, real estate, ICT, agriculture, and manufacturing for driving this wealth accumulation. Nairobi, in particular, hosts a large number of East Africa’s business magnates, successful entrepreneurs, and top corporate executives.
The country’s strategic geographic position, strong entrepreneurial culture, and commitment to infrastructural development continue to attract both local and foreign investment, fueling further growth in private wealth.
Africa’s Wealth Hubs
According to the report, the top countries in Africa by number of millionaires and billionaires include:
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1, South Africa
2, Egypt
3, Nigeria
4, Kenya
5, Morocco
6, Mauritius
7, Algeria
8, Ethiopia
9, Ghana
10, Tanzania
These rankings reflect not only the concentration of high-net-worth individuals but also the relative maturity of financial markets and business infrastructure in each country.
Looking Ahead
Kenya’s continued rise in wealth rankings sends a strong signal to investors and policymakers about its long-term economic prospects. With Nairobi solidifying its position as a regional financial hub, the country is well-positioned to further grow its private wealth base and play a leading role in shaping Africa’s economic future.
As more Kenyans join the ranks of millionaires and billionaires, questions of wealth distribution, inclusive growth, and sustainable development are likely to take center stage — but for now, the spotlight is firmly on Kenya’s climb to the top.
