The number of high-net-worth individuals (HNWIs) in Kenya grew significantly in 2026, with wealth managers reporting stronger growth in wealthy clients compared to the previous year, according to the latest Knight Frank Wealth & Investment Trends Report 2026.
The report shows that 44 percent of wealth managers recorded growth of between 11 and 20 percent in their high-net-worth client base between 2025 and 2026. HNWIs are individuals with liquid financial assets worth at least Sh129.4 million ($1 million).
This marks an improvement from 2025, when most wealth managers reported growth of up to 10 percent.
In addition, 31 percent of respondents said their HNWI client base grew by up to 10 percent during the period.
According to the report, the figures indicate continued wealth creation in Kenya, with more individuals joining the ranks of high-net-worth investors.
“Importantly, the shift in distribution, from predominantly sub-10 percent growth in 2025 to a stronger concentration in the 11–20 percent range in 2026, suggests improving momentum in high-value wealth creation,” the report states.
Despite the growth, the report notes that ultra-high-net-worth individuals remain relatively few in Kenya.
Only 6 percent of respondents said they managed investment portfolios worth between $501 million and $1 billion, compared with the previous year when the same proportion reported managing portfolios valued at more than $1 billion.
Knight Frank said the findings highlight the limited number of ultra-wealthy individuals in the country, with extreme wealth remaining concentrated among a small group of investors.
“This reflects a slight downward recalibration in the ultra-high-net-worth segment classification but continues to underscore the scarcity of UHNWIs in Kenya,” the report states.
The report adds that the concentration of wealth at the top end of the market continues to drive demand for specialised wealth management and financial planning services as affluent individuals seek to preserve and grow their investments.
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