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Why the rich are buying wine, champagne to keep

An all-white Party during a Moet and Chandon Champagne Sundowner at Tamarind Dawa Terrace in Mombasa in this photo taken on 23rd November 2021. PHOTO | KEVIN ODIT | NMG

By  JAMES KAHONGEH

Kenyans are now spending a fortune on fine wine and champagne as an investment, joining the rest of the world that stores wealth in luxury collectibles.

Last year was a particularly good time for luxury beverage makers, with global consumption and investment demand for wine (Burgundy) and champagne rising to 25 and 31 percent respectively.

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Note: The results are not exact but very close to the actual.

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