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Kenya’s Wealthiest Generation Goes Big on Spending

Gen Z emerges as biggest consumers segment as expenditure hits Ksh4.4 trillion

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Wolfgang Fengler CEO World Data Lab - Gen Z wealth
World Data Lab CEO Wolfgang Fengler says Gen Z is currently the largest economic bloc.
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Gen Z, the generation born between 1997-2012, have emerged as the biggest spenders in Kenya according to the latest World Data Lab (WDL) research. Over 17 million Gen Z consumers in Kenya will spend Ksh4.4 trillion ($34 billion) this year on goods and services, with the majority going towards food, housing and transport services.

In Kenya, Gen Z will remain the most wealthy generation until 2040 despite the fact that Generation Alpha, the generation born between 2013 and 2025, have this year become more populous than them.

Nairobi, Mombasa and Kisumu will command the majority of consumer spend in 2025 among Gen Zs, with Meru, Mombasa and Thika emerging as the fastest growing centres for spend by 2035.  World Data Lab  released the new data in its latest report entitled “Gen Z and the Future of the African Consumer”, which traces spending throughout the world and Africa. The insights present a snapshot of the shifting dynamics in African economies as Gen Z becomes the richest generation across the continent.

Africa is, and will remain, a Gen Z continent over the next ten years, unlike the rest of the world where the dominant generations are currently Millennials and Gen X, the two generations born between 1965 and 1996.  Across the continent, Gen Z will spend the most out of all generations in Africa with $801 billion being consumed in 2025, which will expand to more than $1 trillion after 2032.

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“As a group, Gen Z is currently the largest economic bloc who have access to more disposable cash than their parents but who also have higher aspirations for their spending,” said Wolfgang Fengler, CEO, World Data Lab.  “Our insights reveal the immediate need for brands and companies to adapt their strategies to meet the needs of this younger consumer who now accounts for the majority of spending across Africa.”

World Data Lab offers a data-driven view on how generations are shaping global spending patterns that leverage the World Data Pro platform, a powerful tool that can delve into spending at a neighbourhood level and provide projections up to 15 years into the future.

More insights from the Gen Z and the Future of the African Consumer Report include:

● Gen Z is the largest, wealthiest and most global generation ever: By 2030, Gen Z will be the first generation where consumer spending is not dominated by the Global West. Africa is, and will remain a Gen Z continent to 2035.

● Gen Z dominates spending in Africa: In 2025, Gen Z is Africa’s top spending generation (US$801 billion), with Kenya being one of the top 5 contributors (US$34 billion). By 2035, Gen Z spending will exceed US$1 trillion.

● Urban Hotspots: Cities like Nairobi (US$10.1 billion) lead Gen Z spending in Africa, and cities like Mombasa (+8.2%) lead Gen Z spending growth in Africa to 2035. However emerging hubs such as Meru, Thika and Ruiru will experience the fastest rates of spending growth to 2035.

These insights on Gen Z and the Future of the African Consumer are made possible due to the powerful World Data Pro platform, which provides an unparalleled view into spending trends across 6,000+ cities and 3,300+ regions.

World Data Pro helps businesses anticipate category shifts, track demographic spending patterns, and refine their market-entry strategies.

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Written by
BT Reporter -

editor [at] businesstoday.co.ke

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