Nairobi Named Sixth Wealthiest City in Africa
A new report has named Nairobi as the sixth wealthiest city in Africa and the richest in the East African region.
The study conducted by New World Wealth and AfrAsia Bank from Mauritius shows that Nairobi’s privately held wealth stands at a whooping Sh5.4 trillion.
The report says the Kenyan capital city's growth is buoyed by financial services, retail, tourism, fast moving consumer goods, telecommunications, real estate and construction sectors.
Durban (South Africa) was ranked the richest city in the continent followed by Cape Town (South Africa) and Cairo (Egypt). Lagos (Nigeria) and Johannesburg (South Africa) closed the list of top five wealthiest cities in Africa.
Privately held wealth in Dar es Salaam (Tanzania) is estimated at Sh2.5 trillion followed by Kampala (Uganda) with Sh1.6 trillion and Mombasa (Sh800 billion).
Nairobi endears high Net Worth Individuals ((HNWIs) for business and investments while Mombasa attracts investors in hospitality and luxury industries.
The report mentions that wealthy individuals in East Africa and Kenya adore shopping for designer clothes, expensive cars, helicopters and private jets.
Comments
Corruption corruption is the…
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Corruption corruption is the order of the day and those who are wealthy should declare their wealth. Few would pass the test but it is unfortunate that the press worships such news so the public follows suit.
These RATErs don't know the…
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In reply to Corruption corruption is the… by Mugikuyu (not verified)
These RATErs don't know the Difference between the Wealthy and the Crafty (Corrupty). Bure Kabisa.
When,I read that dead babies…
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When,I read that dead babies are stashed in trash bags,at Pumwani hospital, Iam not impressed with this wealth.When, wananchi are robbed in the daylight and bystanders just watch, Iam not impressed.
When,I read just about every day about how money was stolen,and the culprits are still running around, Iam not impressed.Iam not impressed when we have the largest slam in africa-Kibera.
All that wealth is meaningless when there is no security.I would rather we rank, last,but we have agood healthcare system for all.Iwould rather,we rank last,but have jobs for any able body that wants to work.
Yes Iwould rather we rank last,but have the least corrupt police force.
The problem,I have seen with africans/Kenyans is that they dont take these studies seriously.Partly because no shocking news is being revealed in the studies.
When 70% of Kenyan youth want to leave the country,and got to USA,or Europe, that says it all.That's red aflag,and it should not be ignored. If the youth are our future leaders,and they want to run away, who will lead us?
@Maxiley this is very sad…
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In reply to When,I read that dead babies… by maxiley (not verified)
@Maxiley this is very sad indeed. The youth of the country want to run away because they realize this gova does not care about them. Look at NYS scandal. The Kenyan press on the other hand have let the Kenyans down. They keep covering these stories about the rich like they themselves covet these riches . Why can't they cover the rich who also give back to the community? These riches are meaningless if you have to be on the look out due to security, high fences to shut off would be thugs. These riches are meaningless if you have to fly to another land for treatment. What if you have a stroke or heart attack, situations that require a medical emergency? Short sightedness at work and gross incompetence with our so called leaders.
@Maxiley yes corruption is…
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@Maxiley yes corruption is there but doesn’t mean majority r involved??About 70% of youth wanting to leave to go to this colonialist,immoral,rich,countries which u mentioned I would like to know if they interviewed 35million youth which makes to 70%.But interviewing 2000 pple n then come up with 70%of the youth is crap baseless n nonsense.There r many Kenyans who r working very hard everyday without bin involved in dubious ways n majority of them r btw 25-45 yrs old.I may not b a fun of this stupid reaserch but One thing I will tell u without shaking is Africa is rising n rising high more than many western world n Wr not stopping.Its time for Africa to shine n nobody no country can stop this?????
@ mkenya halisi.I have to…
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@ mkenya halisi.I have to assume that the study is scintific,meaning that the sample is representative of all youths on the country. Otherwise-garbage in garbage out...
Iwould be naive to assume that everybody is corrupt.But my point here was to highlight things that Iwould like to see done with our so called"6th wealthiest"in Africa.
I also mindful that problems we face are not unique ,and since they are largely man made, we can solve them timely if we choose to.
Can I be counted as having 0…
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Can I be counted as having 0.000001% of this finding not on the corrupt side really Huzzler but not the RUTO way.
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