Kenya has been ranked as the eighth best performing wealth market in the world, an endorsement of the country’s ability to provide a conducive environment for investors to do business in the country.
The Global Wealth Migration Review authored by AfrAsia Bank ranks Mauritius (2) and Ethiopia (3) ahead of Kenya while Ghana (14) and Botswana (19) rank below Kenya in the report tailored to measure the financial health of different economies.
According to the report, Kenya has recorded a 64% ten year growth between 2008 and 2018 while Mauritius and Ethiopia have recorded 124% and 102% growth respectively during the period under review.
“Global wealth has risen by 26% over the past 10 years from USD161 trillion at the end of 2008 to USD204 trillion at the end of 2018,” reads the report.
However according to the report, Mauritius will continue to retain its position as the best wealth performing market in Africa due to favourable policies.
“Safe country, business friendly, and has low tax rates compared to the rest of Africa. The country is a hotspot for High Net Worth Individuals (HNWIs),” reads the report “We expect Mauritius to benefit from strong financial growth in the local financial services and record a 130% ten year growth,”
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China is ranked the best wealth performing market in the world while Denmark is ranked the worst wealth market in the world.
This development comes a few months after Nairobi was ranked as the only African city in the global investors watch list due to its attractiveness as a regional hub, infrastructure and stable political climate.
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Conversely, this also comes after Kenya was ranked third in Africa, and fourth in the world as the best performing brand by Brand Finance.
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