Gen Z consumer boom fuels investors appetite

Investors are now betting on the bulging Generation Z, with indications showing they are contributing trillions of shillings in consumer spending.

According to new projections, Africa's Generation Z -those born between 1997 and 2012-is expected to contribute Sh103 trillion by 2025, making them the largest spending cohort on the continent.

The data by World Data Lab shows that in Kenya, by 2025, 17 million Gen Zs will be responsible for KES 4.4 trillion in spending with Nairobi alone will account for US$10.1 billion of the spend, which represents nearly one-third of the national total. Other significant cities include Mombasa, with KES 141 billion, and Kisumu, with KES 68 billion.

The increasing number of young Kenyans working abroad has also seen a rise in diaspora remittances.

"Everyday we receive requests from Kenyans in the Diaspora who express high interest in investing in modern affordable housing units for re-sale and these requests usually comes with varied specifications from rental, Airbnb, reflecting a target to younger population largely adopting nomad lifestyles" said Raisa Wamai, Rocksand Homes general manager.

Most requests are coming from Kenyans living in the US and the Middle East.

"We are taking a deliberate effort to address this rising need and help the millions of Kenyans from all over the world to re-invest back home."

Kenyans living and working overseas sent home US$4.94 billion (KES 640 billion) in 2024, with 51% of these remittances coming from the United States, according to data from the Central Bank of Kenya.

The property developer is designing customised packages for young clients in the diaspora, incorporating features that reflect personalization and modern trends.

According to new projections, Africa's Generation Z -those born between 1997 and 2012-are expected to contribute Sh103 trillion in by 2025, making them the largest spending cohort on the continent.

The data by World Data Lab shows that in Kenya, by 2025, 17 million Gen Z's will be responsible for KES 4.4 trillion in spending with Nairobi alone will account for US$10.1 billion of the spend, which represents nearly one-third of the national total. Other significant cities include Mombasa, with KES 141 billion, and Kisumu, with KES 68 billion.

The increasing number of young Kenyans working abroad has also seen a rise in diaspora remittances.

"Everyday we receive requests from Kenyans in the Diaspora who express high interest in investing in modern affordable housing units for re-sale and these requests usually comes with varied specifications from rental, Air BnB, reflecting a target to younger population largely adopting nomad lifestyles" said Raisa Wamai, Rocksand Homes general manager.

Most requests are coming from Kenyans living in the US and the Middle East.

"We are taking a deliberate effort to address this rising need and help the millions of Kenyans from all over the world to re-invest back home."

Kenyans living and working overseas sent home US$4.94 billion (KES 640 billion) in 2024, with 51% of these remittances coming from the United States, according to data from the Central Bank of Kenya.

The property developer is designing customised packages for young clients in the diaspora, incorporating features that reflect personalization and modern trends.