Browsing: Threat to wealth

The proportion of Kenyans seeking foreign passports is not the highest for Africa, with 31 per cent of high net worth individuals (HNWIs) in South Africa seeking a second passport, and 44 per cent of HNWIs in Nigeria.

Andrew Shirley, editor of The Wealth Report at Knight Frank said that amongst Kenyans seeking new passports, the proportion was interested in reducing their tax bills, enhancing their safety, or getting a better quality of life just as much as the wealthy globally.

Of Kenyans seeking new passports, around 59 per cent are doing so as an investment, against a global average of 17 per cent, while 38 per cent cite education as a driver, compared with 18 per cent worldwide.

Meanwhile, 34 per cent are seeking better healthcare, compared with 13 per cent worldwide.