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Nairobi sixth wealthiest city in Africa
MugundaMan
#1 Posted : Monday, September 17, 2018 12:11:06 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,211
Location: DC (Dustbowl County)
https://mobile.nation.co...62470-tvc6ls/index.html

Partly thanks to the roaring real estate sector. Invest within a 40 km radius of the CBD of this city that powers 60-70% of GDP of the entire economy and you cannot go wrong. smile
wukan
#2 Posted : Monday, September 17, 2018 5:00:21 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,590
From the report

"Based on our research, the top factors that encourage wealth growth in a country include:

 Strong safety & security - woman and child safety is particularly important. Based on our recent woman safety index (part of our 2018 Global Wealth Migration Review), the safest countries in Africa are: Mauritius, Botswana and Namibia.

 Strong ownership rights - Zimbabwe offers a case in point as to what happens when ownership rights are stripped – once assets are taken away they tend to lose value as no one is willing to buy anything.

 Strong economic growth - economic growth is usually linked to wealth growth.

 A well-developed banking system and stock market - insures that people invest and grow their wealth locally. Also insures that GDP growth leads to wealth growth.

 Free and independent media - allows for the dissemination of accurate information to investors.

 Low level of government intervention - government tampering in the business sector creates large inefficiencies within an economy. Government owned enterprises and parastatals are also a problem.

 Low income tax and company tax rates - Dubai and Singapore are examples of the power that tax rates can have in encouraging business formation – both have very low tax rates.

 Ease of investment - barriers such as exchange controls inhibit wealth growth.

 Wealth migration - the migration of HNWIs to the country."
MugundaMan
#3 Posted : Tuesday, September 18, 2018 4:33:18 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,211
Location: DC (Dustbowl County)
wukan wrote:
From the report

"Based on our research, the top factors that encourage wealth growth in a country include:

 Strong safety & security - woman and child safety is particularly important. Based on our recent woman safety index (part of our 2018 Global Wealth Migration Review), the safest countries in Africa are: Mauritius, Botswana and Namibia.

 Strong ownership rights - Zimbabwe offers a case in point as to what happens when ownership rights are stripped – once assets are taken away they tend to lose value as no one is willing to buy anything.

 Strong economic growth - economic growth is usually linked to wealth growth.

 A well-developed banking system and stock market - insures that people invest and grow their wealth locally. Also insures that GDP growth leads to wealth growth.

 Free and independent media - allows for the dissemination of accurate information to investors.

 Low level of government intervention - government tampering in the business sector creates large inefficiencies within an economy. Government owned enterprises and parastatals are also a problem.

 Low income tax and company tax rates - Dubai and Singapore are examples of the power that tax rates can have in encouraging business formation – both have very low tax rates.

 Ease of investment - barriers such as exchange controls inhibit wealth growth.

 Wealth migration - the migration of HNWIs to the country."


I think with the exception of taxation, Kenya is doing relatively well on all counts. We all know Nairobi is the regional hub of choice for the middle classes of East and Central Africa. All the South Sudanese honchos and middle classes have bought homes and invested here. So has half of Somalia's middle to upper classes (literally). Ugandans, Rwandans, Burundians, Tanzanians, Ethiopians and DRC's are here aplenty. I keep bumping into them everywhere. In fact the old joke is that when one leaves Dar, Kyyamparra, Bujumbura, Jonglei, Mogadishu or Goma to flee to the comofrts of shiny Nairobi they all say (in broken Kiswahili-Tanzanians exempted) that they are "headed to Ulaya."
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