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Billionaires Lifestyle Puts Nairobi on the Map
Kenyan businessmen Chris Kirubi, Jimmu Wanjigi, SK Macharia
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Nairobi is home to more than 75 per cent of Kenya’s billionaires and some of their favourite havens include, Kitisuru, Karen, Muthaiga, and Runda.
According to the AfrAsia Bank Africa Wealth Report 2021, Kenyan billionaires prefer living in the city because it is the economic hub of East Africa and one of the fastest-growing in Africa.
The report projects that Kenya and Mauritius are the countries to watch in regards to the growth of wealth management in Africa.
President Uhuru Kenyatta and Steel magnate Narendra Raval at a past event
Three Cars Worth Ksh142 Million Spotted in Nairobi [PHOTOS]
A file image of Mercedes Maybach S600
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Photos of three luxury cars worth at least Ksh142 million have been doing the rounds across various social media pages, with netizens in awe of the fuel-guzzling beasts. I cannot get it. That is Ksh44m on the road in this pandemic, one Twitter user asked in response to the photo of one of the cars - a Mercedes-Maybach S600.
In 2019, the prices of used luxury cars were significantly adjusted after the Kenya Revenue Authority (KRA) proposed new base rates for charging duties on motor vehicle imports.
Multiple Hauliers loses Porsche franchise in Kenya
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German automobile manufacturer, Porsche AG, has announced plans to transfer Porsche car dealership from the current dealer, to a new or one of the existing ones in the local market.
The current dealer, Porsche Centre Nairobi, will continue to sell parts and service to clients until March 2021.
Porsche Centre Nairobi is among other luxury car dealers in Kenya including; DT Dobie – Mercedes Benz, Inchcape Kenya – Jaguar, BMW and Land Rover and Bentley Nairobi – Bentley. Bentley Nairobi and Porsche Centre Nairobi have common ownership through their parent company Multiple Hauliers.
The dealership was well received when it opened in May 2014, with sales rallying to 125 units within the first eight months. The strong initial sales were linked to a huge demand for the sports cars among wealthy individuals who could now enjoy access to parts and service from a local dealer.
Porsche Nairobi [PHOTO/ COURTESY]
Multiple Hauliers, the company that owns Porsche Centre Nairobi has lost dealership for the luxury Germany car, Porsche.
The contract termination will be effected end of January 2021, and the Porsche Centre Nairobi will completely seize from offering parts and service to clients in March 2021.
Porsche AG, which owns the franchise, is expected to transfer the dealership to a new entrant in the market, which has been shaky due to the reduced demand of luxury cars.
The dealership sold 125 units within the first eight months after the franchise was opened in 2014. Cayenne brand received the highest orders at 102 units in 2015 but dropped to 54 units in 2016.