Kenya’s economic growth over the past decade has largely benefited a tiny fraction of the population, leaving millions of citizens struggling to meet basic needs.
The richest one per cent, roughly 500,000 individuals, now control 78 per cent of the country’s financial assets, including stocks, company shares, and physical property, according to research by Oxfam.
In contrast, the bottom 50 per cent of Kenyans hold only a small portion of wealth, reflecting a stark divide between the very rich and the rest of the population.
Oxfam’s analysis reveals that while Kenya’s economy grew at an average of 5 per cent per year over the last ten years, nearly half of all new wealth generated went to the richest 1 per cent.
Meanwhile, more than seven million Kenyans fell into extreme poverty during the same period, surviving on less than Sh130 daily.
Beverly Musili, Oxfam Kenya’s economic governance and policy advisor, stated, “Kenya is becoming wealthy, but a vast majority of its citizens do not feel this. The wealth generated is flowing to the richest, and the gap between the richest and the rest has widened.”
The study further highlights that the wealth of the top one per cent has increased at almost double the rate of the rest of the population over the past two years. Today, this small elite owns more assets than 90 per cent of Kenyans combined and thirteen times the wealth of the country’s poorest half.
Oxfam also points out that Kenya’s 125 richest individuals now possess more wealth than 42.6 million citizens put together, emphasizing the widening economic divide.
“This clearly shows that without redistribution, growth alone will continue to enrich the richest while deepening poverty for the majority,” the charity said.
Despite GDP nearly doubling from Sh9 trillion in 2015 to Sh16.15 trillion last year, a growing number of Kenyans struggle to afford essentials such as food, education, and healthcare.
Oxfam warns that government budget priorities often overlook the needs of low-income households. “The cost of living crisis is making it hard for families to put food on the table. The number of Kenyans facing severe or moderate food insecurity rose by 17 million (71 per cent) between 2014 and 2024,” the organization said.
Inflation has disproportionately affected those with limited income, while rising inequality creates additional barriers to education and healthcare.
With public funding for schools and hospitals declining, avoidable illnesses and deaths among poor families are increasing, while wealthy citizens continue to rely on private healthcare services.
The research highlights that economic growth alone does not guarantee shared prosperity and that targeted policies are necessary to narrow Kenya’s widening wealth gap.
