Kenyan high-net-worth individuals (HNWIs) are increasingly turning to passion investments, with 72% expressing interest in acquiring art, 50% eyeing classic cars, and 44% drawn to jewellery and high-end furniture.
This is according to insights unveiled at a wealth breakfast session hosted by Stanbic Bank Kenya in partnership with Knight Frank Kenya.
The findings, drawn from the Wealth Report 2025 – Kenya Edition facilitated by Knight Frank, also showed that Kenya’s wealthy maintain a strong sense of domestic confidence, with less than 10% planning to apply for second passports or new citizenships in 2025.
Commenting on the insights, Abraham Ongenge, Head of Personal and Private Banking at Stanbic Bank Kenya, noted:
“We pride ourselves in being a growth enabler for our clients through knowledge sharing, market advisory and service differentiation.
The insight session with Knight Frank provided a platform to provide industry expertise and connect our clients to good insights in the Kenyan market, with some nuance around global markets. We continue to invest in the right platforms and partnerships to effectively cater to our clients’ wealth creation, planning, and protection needs.”
Knight Frank CEO, Mark Dunford, highlighted the broadening base of Kenya’s wealth landscape, pointing to emerging generational and middle-class wealth.
“There is quite a healthy distribution of money in Kenya’s wealth market. The fact that we’re seeing these smaller portfolios is an indication that we are seeing a growing wealth coming up from middle class and that kind of non-inherited, generational wealth,” he said.
The report further revealed shifting consumer behaviour in real estate. Less than 10% of HNWIs invested in commercial property in 2024, while only 1–10% purchased a home last year or plan to in 2025.
Instead, non-traditional asset classes are gaining traction, with environmental, social and governance (ESG) considerations now central to investment choices. Notably, 72% of wealthy Kenyans said they factor in community impact when making property decisions.
The insights come amid growing demand for personalized wealth solutions across Africa, which is now home to more than 135,000 HNWIs. Kenya remains one of the continent’s leading wealth markets.
Stanbic Bank, named Best International Private Bank in Kenya 2024 by Euromoney, has continued to strengthen its position as a key partner in wealth management, leveraging its networks and expertise to help clients build, preserve, and transfer wealth.