According to the Knight Frank Wealth Report: Kenya Edition Attitudes Survey 2025, Kenya’s High Net-Worth Individuals (HNWIs) are undergoing a strategic shift in investment focus. The report, released by global property consultancy Knight Frank, offers insights into how the country’s wealthiest are navigating an evolving economic landscape.
Strong Pivot Towards Food Production and Technology
The report reveals a significant move by HNWIs toward investments in food production and technology, signaling a broader strategy centered on resilience and long-term growth. These sectors are emerging as key priorities amid increasing economic uncertainty and the need for sustainable returns.
Slower Wealth Growth in 2024 Prompts Portfolio Realignments
Wealth creation slowed in 2024 compared to previous years. More than 60% of wealth managers observed that the number of HNWIs grew by less than 10% from 2024 to 2025.
Boniface Abudho, Research Analyst at Knight Frank, noted:
- “With the slowdown in 2024, particularly in sectors such as construction and mining—which have historically driven wealth—the portfolios and priorities of HNWIs have shifted rapidly.”
Decline in Foreign Property Ownership Among HNWIs
There is a growing domestic investment focus among wealthy Kenyans. The report shows that foreign homeownership by Kenyan HNWIs has declined, with only 10% owning homes abroad in 2024, down from 14% in early 2023. This marks a notable return to local assets and opportunities.
Kenya Becomes Top Choice for Wealthy Investors
This domestic preference is further supported by Mark Dunford, CEO of Knight Frank Kenya, who highlighted that 66% of HNWIs now prioritize Kenya as their primary investment destination, a significant jump from 33% the previous year.
“Kenyan returns continue to outperform the global average. Rising global uncertainties are further reinforcing investor confidence in the local market,” Dunford said.
Commercial Property Loses Appeal, Cautious Optimism Emerges
Although commercial property remains a core asset class for many HNWIs, interest is waning. Half of the surveyed wealth managers reported that fewer than 10% of their clients plan to invest in commercial real estate in 2025.
Instead, wealthy individuals are adopting a more measured approach, showing greater interest in funds and income-generating assets. This cautious stance is contributing to a sense of optimism:
- 48% expect a slight increase in their wealth in 2025
- 26% anticipate wealth gains exceeding 10%
FAQ’s
What is the main focus of the Knight Frank Wealth Report: Kenya Edition 2025?
The report highlights investment trends and wealth patterns among Kenyan High Net-Worth Individuals (HNWIs), emphasizing a growing shift towards domestic investments, especially in food production and technology.
Why are Kenyan HNWIs reducing foreign property ownership?
Amid global uncertainty and more substantial local returns, many wealthy Kenyans are choosing to invest closer to home, resulting in a decline in overseas property ownership from 14% in 2023 to 10% in 2024.
Which sectors have seen reduced interest from HNWIs?
Sectors like construction, mining, and commercial property have seen decreased interest due to economic slowdowns and shifting investment priorities among HNWIs.
What asset classes are attracting more interest in 2025?
Kenyan HNWIs are increasingly drawn to food production, technology, income-generating assets, and investment funds, reflecting a more cautious yet strategic approach to wealth growth.
How are Kenyan HNWIs projecting their wealth growth for 2025?
According to the report, 48% expect a slight increase in their wealth, while 26% are optimistic about gains exceeding 10%, indicating cautious optimism across the board.
Conclusion
The Knight Frank Wealth Report 2025 paints a clear picture of Kenya’s evolving wealth landscape. With slowing growth in traditional sectors, High net worth individuals are strategically redirecting their investments toward resilient, locally rooted opportunities in food production and technology. This domestic shift, coupled with declining foreign asset ownership and measured optimism for the future, underscores a maturing investment mindset. As uncertainties persist globally, Kenya’s elite are increasingly placing their confidence—and capital—closer to home for stability and sustained growth.
