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When land loses its investment lustre, this is where to put your money
L-R: Nation Media Group (NMG) Managing Editor Newsroom Production James Smart (far right) leads a panel discussion comprising of (from left) Kenbright Holdings Managing Director and Chief Actuary Ezekiel Macharia, ICEA LION Asset Management Limited Senior Portfolio Manager Esther Waweru Muchai, Centum Real Estate Managing Director Kenneth Mbae and Britam Assets Managers CEO Barack Obatsa during the 2nd Business Daily Investor Conference held at Emara Ole Sereni on May 24, 2024.
Photo credit: Francis Nderitu | Nation Media Group
For many years, older Kenyans have known and focused on only one investment: land. People have been storing their wealth in many eighth-acre parcels of land in the city outskirts, hoping that in tough times they will sell.
“When I got my first job, my mother asked me, ‘when are you buying land," said Kenneth Mbae, the chief executive officer at Centum Real Estate Company, at the just concluded BD Investor Education Conference that attracted many Kenyans looking to diversify their wealth creation portfolio.
