Kenya's super rich are stashing their money abroad and might
relocate there in just under ten years to safeguard the interest of their
children according to the report on global wealth. Andrew Shirley, editor of
the Knight Frank Wealth report says there is an increasing interest in property
in the United Kingdom and Dubai. Shirley explained that with a lot of the
wealthy children studying abroad, they have acquired global exposure and are
more open to opportunities out there.
"There is a great mobility of wealth with Africans and
Kenyans buying property abroad. London is the most popular for Kenyans
searching for property followed by Dubai," he told the Nation in Nairobi
yesterday.
According to Shirley 24 per cent of Africa's Super-rich plan
ditching the continent in the next decade for personal security, political
issues and to access higher quality of education, health and life.
With at least 202 new entries into the elite club of dollar
millionaires last year pushing the current figure to 8,500 up from 8,300 and
which is expected to grow 80 per cent to 15,300 in the next ten years, Kenya
might witness significant amount of wealth locked abroad.
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