MARKETS

Revealed: Assets Kenyans treasure the most

Share
Share

A majority of Kenyans prefer to be custodians of assets that appreciate in value or those which can be liquidated (sold at preferred price anytime), a report by social services consultancy firm Enwealth Financial Services has revealed.

The report dubbed Attitudes to Inheritance in Kenya which examines Kenyans’ perceptions towards bequeathing their kin inheritance reveals that land and buildings are the most treasured assets in the country with 83% of the quizzed respondents indicating that they have assets in form of land and buildings.

Conversely, 79% of the respondents confirmed that they have their assets in form of pension funds while 75% of the respondents indicated that they prefer to place their faith in Saccos.

Some 68% of the respondents indicated that a good chunk of their wealth is in cash while another 40% of the respondents listed their private businesses as their major assets.

What’s more, securities were also marginally popular with the respondents with 39% of the respondents saying that their wealth is in form of shares while another 12% of the queried individuals saying that their wealth is in form of bonds.

Thirty two per cent of the queried respondents indicated that their total assets are worth less than Ksh5 million, 6% of the respondents indicated that their total assets stand above Ksh100 million while 22% preferred not to disclose.

Read: Bungalows, maisonettes uptake dips as Kenyans rush for apartments

Enwealth’s report corroborates Central Bank of Kenya Governor Dr Patrick Njoroge’s revelations that a vast majority of the Kenyan wealth is concentrated in the hands of a few individuals. On Tuesday Dr Njoroge told MPs that less than 1% of Kenyan bank accounts have more than Ksh1 million.

See also: Oversupply leads to sharp fall in rent and house prices in Nairobi

Follow Us

Related Articles
Simple List of Top 15 Money Market Funds with Highest Rates in Kenya 2025
MARKETS

Simple List of Top 15 Money Market Funds with Highest Rates in Kenya 2025

As this new year unfolds, markets are increasingly anticipating rate cuts. This...

kenya shilling vs dollar news
BUSINESSMARKETS

Kenya Shilling Stable Against Dollar, Lifted By Diaspora Remittances

The Kenya shilling remains stable against the U.S. dollar, supported by a...

L-R: HF Group Director Strategy and Business Performance Tonney Agira, CFO Sammy Kamanthi, GM Marketing, Corporate Affairs and Citizenship Achieng Oluoch, Group CEO Robert Kibaara and HFC Managing Director Peter Mugeni.
MARKETS

HF Group Rights Issue Achieves 38.32% Oversubscription

Listed local financial solutions provider HF Group Plc has achieved an oversubscription...

Acorn Green Bond
BUSINESSMARKETS

Acorn Green Bond Delisted From the NSE

The Acorn Green Bond has been the Nairobi Securities Exchange (NSE) after...