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306 more Kenyans rise to millionaires rank in a year

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An estimated 306 Kenyans rose to the rank of dollar millionaires last year, defying economic headwinds to grow their net worth above Sh100 million excluding their primary residences.

The 2019 Knight Frank’s Wealth Report also classified 9,482 Kenyans among the world’s High Net-Worth Individuals (HNWIs) in 2018, representing a three percent growth over the 2017 count.

Four Kenyans joined an elite group of super-wealthy persons called Ultra High Net-Worth Individuals (UHNWI) with a net worth of more than Sh3 billion, swelling their number to 125.

The Knight Frank report set to be released today projects that the number of wealthy Kenyans worth at least Sh100 million is set to grow further by 24 per cent over the next five years to 11,584 in 2023, as the super-rich continue to accumulate wealth.

“The forecast growth in ultra-wealthy people chimes with the findings of this year’s Attitudes Survey, which shows that the majority of UHNWIs expect their wealth to increase in 2019.”

Manufacturing, real estate and technology sectors were the biggest contributors to the number of new dollar millionaires.

Nairobi, the capital, is home to 82 of Kenya’s UHNWIs, with one of the fastest growth rate in the number of the super-rich in Africa.

READ ALSO:   Kirubi’s company opens school for the super-rich in Nairobi

“In Africa, Kenya leads the way, with 24 percent forecast growth by the end of 2023. This fits with more upbeat economic forecasts for Kenyan GDP in the coming years, yet risks remain to this economic outlook as the government looks to narrow its fiscal deficit,” the wealth report says. “The number of ultra-wealthy people in the country is set to reach 155 in 2023, making up six percent of the total UHNWIs population in Africa.”

The Knight Frank report does not name individuals but other wealth reports have in the past singled out President Uhuru Kenyatta’s family, retired president Daniel arap Moi’s family and the late Cabinet minister Nicholas Biwott among Kenya’s wealthiest.

Business tycoons who have appeared in past wealth reports include Vimal Shah, Chris Kirubi and Manu Chandaria.

Source: Business Daily

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Africa

VIDEO: Now DP Ruto, Aisha Jumwa tell Matiang’i off and call for his resignation

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Kenya’s Deputy President William Ruto has said all those mentioned in the latest fake gold scam should carry their own crosses and desist from dragging the name of the president into the scandal.

Without dropping any names, Ruto said that “the political conmen had now tuned to gold.”

Walipanda ndege hapa na kwenda huko Dubai na kufanya maneno yao. Wabebe mizigo yao na waache kumuingiza rais kwa mambo hayo,” said Ruto during a fundraiser at a church in Endebess, Trans Nzoia County,.

Meanwhile, Malindi MP Aisha Jumwa, a close associate of Mr Ruto, has asked for the immediate resignation of Interior Cabinet Secretary, Fred Matian’gi.

A section of Jubilee MPs havealso told ODM leader Raila Odinga to state what he knows about the fake gold scandal.

They said Interior CS Fred Matiang’i should also explain how the country’s security was protecting the premises with fake gold.

Speaking  on Saturday when they accompanied Deputy President William Ruto during the launch of various development projects in Trans Nzoia, the lawmakers asked Matiang’i to state what he knows about it.

The leaders were Governors Patrick Khaemba (Trans Nzoia) and Ferdinand Waititu (Kiambu), MPs Robert Pukose (Endebess), Aisha Jumwa (Malindi), Janet Nangabo (Women Rep, Trans Nzoia), Rahab Mukami (Women Rep, Nyeri), Mathias Robi (Kuria West), Janet Jepkemboi (Turbo), Gabriel Tongoyo (Narok West), Fred Kapondi (Mt Elgon) and Owen Baya (Kilifi North).

READ ALSO:   VIDEO: Uhuru, Chris Kirubi take a tour of two Rivers Mall, launch ‘Eye of Kenya

This as it emerged that the Director of Public Prodecution, Nordin Haji, had defended President Kenyatta and former PM Raila Odinga.

Mr Haji issued a statement on Saturday about a recording circulated on social media that suggests that some information was relayed to President Kenyatta, Mr Odinga and Interior minister Fred Matiang’i, and that discussions followed.

He condemned the release and circulation of the recording, saying, “Such claims and their circulation through social media, specifically through leaked phone recordings in today’s age of real-time, borderless publishing, are alarmist and may needlessly cause disaffection.

He warned that “unless all facts are obtained and analysed, it is irresponsible and possibly unlawful to publish such material.”

SPEEDY PROBE

Mr Haji said he had personally received complaints from victims who said the person behind the scam had been invoking the President’s name in dealings and conversations.

“Having realised that they were conned on the availability of the gold, and the misleading knowledge and involvement of the President, the former Prime Minister and CS Matiang’i, they resolved to [file] a report [with] Kenyan authorities and cooperate with law enforcement in unearthing the under-dealings.”

The DPP said he had thus directed Inspector-General of Police Hilary Mutyambai to speed up the probe; he said the file should be forwarded to him in the next seven days.

READ ALSO:   Kirubi’s company opens school for the super-rich in Nairobi

Mr Haji also asked members of the public with helpful information to report it to authorities.

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Africa

VIDEO: Vote for our very own top Diaspora Gospel Artiste Naomi Karanja

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It’s back.

The 2019 edition of Groove Awards with Safaricom event is officially here. As was the case last year and years before that, the awards will celebrate excellence in Gospel music in Kenya and across Africa.

Celebrated Gospel Artiste Naomi Karanja from Atlanta, Georgia, is one of the finalists in the Diaspora Artiste of the Year Category. Please take a little of your time to vote for here here.

Since 2004, Groove Awards with Safaricom has celebrated excellence in gospel music in Kenya and across Africa. The awards, entering their 14th year in Kenya (and 6th in Rwanda), are this nation’s most prestigious and recognized Gospel music awards event, enjoying regional resonance and relevance.

Groove seeks to promote gospel music as a message of hope and an avenue to address issues affecting young people across the African continent with a key focus on its main objective – “Shaping culture through positive content and entertainment.”

Groove Awards has seen over 1,800 artists/groups nominated and almost 400 Groove statuettes presented to gospel musicians in Kenya and beyond.

The Venue and date for this Year’s Gala will be communicated in due course.

 

READ ALSO:   Kirubi’s company opens school for the super-rich in Nairobi
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Africa

Embassy in US writes to Kenyan comedian inviting him to perform in Baltimore, Maryland

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Apopular Kenya comedian has been invited to the United States to perform at this year’s   Makadara Day celebrations, organized by the Diaspora Baltimore Community.

In a letter by Deputy Chief of Mission, David Gacheru, the comedian is invited to The Hermes Center of St.Demetrios 2504 Cub Hill Road, Parkville, 21234 to perform to the Diasporans on June 8, 2019.

“To have you as one of our guests would be an honor to the people who will be there and the whole organization,” read part of the letter.

According to the embassy,  the event is attended by a huge number of Diasporans every year.

An excited Omondi took to his social media platforms toannounce the development.

“We need private jet guys!!! Baltimore see you in two weeks,” he wrote.

 

In Kenya, the Madaraka Day celebrations will be held at the Narok stadium, where the committee chairman, PS Karanja Kibichio, had visited over the weekend.

He was visiting the place to inspect how prepared the County was ahead of the celebrations which will be held on June 1, 2019.

The Principal Secretary assured the public that the stadium would be ready by next week.

READ ALSO:   VIDEO: Uhuru, Chris Kirubi take a tour of two Rivers Mall, launch ‘Eye of Kenya
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