Kenya might be the largest economy in the region but Tanzania is home to the most dollar millionaires.
A new report shows the number of super-rich in Tanzania far supersedes that of Kenya, which enjoys superior economic standards measured by gross domestic product (GDP).
A recent wealth report by Knight Frank shows the tally of Tanzania’s super-rich stood at 5,668 at the end of 2019 compared to Kenya’s 2,942.
This includes 5,553 who are dollar millionaires – worth Sh100 million and above, another 114 billionaires, worth Sh3 billion and above and one that is worth over Sh100 billion.
Kenya has 2,900 dollar millionaires, 42 individuals worth $30 million and above and none in the category of dollar-billionaire, according to the 2020 Wealth Report by property management firm Knight Frank.
Uganda has 137 individuals worth over Sh100 million, five who are worth Sh3 billion and above and no one worth Sh100 billion.