Rise In Wealthy Kenyan Entrepreneurs Amid Starving Millions

The level of young wealthy Kenyans is higher at 27% above the global average of 22%, Knight Frank's 2022 attitudes survey has revealed naming bitcoin technology among the leading creators of such wealth.

According to Knight Frank Kenya MD, Ben Woodhams, many young ultra-high-net-worth individuals (UHNWI) below the age of 40 years are generating their own wealth in areas such as blockchain technology, metaverse among other emerging technology.

The number of ultra-high net worth individuals has however dropped by two percent, a figure he said should not be alarming but instead highlights resilience by entrepreneurs in Kenya.

The report further noted that the majority of Kenya's wealthy are planning new nationalities as part of their investment activities, with just over a quarter of Kenya's 3,362 dollar millionaires now planning to apply for a second passport or new nationality aimed at providing greater investment, education and healthcare access.

Another study conducted by Afrobarometer has revealed that 85% of Kenyans are unhappy with the current economic situation, a 30% rise from the 55% figure reported in 2016.

This report comes soon after Kenyans angrily took to Twitter to decry an increase in food prices calling on the government to step in, reports Capital FM.