Nairobi ranked among Africa's five cities to watch for long-term growth

The Nairobi International Financial Centre (NIFC) welcomed the ranking in the Oxford Economics Global Cities Index 2026, which places Nairobi 327th among 1,000 cities globally and 26th in human capital.

Nairobi joins Accra, Cairo, Dakar and Luanda on the list of African cities identified for their long-term growth potential. Oxford Economics projects that the five cities will collectively account for about one-third of the GDP growth generated by African cities included in the index over the next 25 years.

The report describes Nairobi as East Africa’s commercial anchor and a gateway to the expanding East African Community market.

More than three-quarters of Kenya’s financial activity is concentrated in Nairobi, while the city’s technology workforce, digital infrastructure and innovation ecosystem have strengthened its position as a regional technology and financial hub.

Oxford Economics forecasts average annual growth of 5.5 per cent in information technology and 4.1 per cent in finance over the next 25 years.

The growth is expected to extend beyond the services sector, with Nairobi’s industrial output projected to surpass US$38 billion by 2050, representing real annual growth of 4.4 per cent.

The expansion could create about 700,000 additional industrial jobs, placing Nairobi among the cities assessed by Oxford Economics with the largest projected increases in industrial employment.

The report also projects Nairobi’s population will reach 12 million by 2050, driven partly by continued urbanisation and improvements in transport and regional connectivity.

NIFC says the projections highlight the need to ensure Nairobi’s growth is matched by increased investment.

The Centre is seeking to establish and domicile investment funds and sector-specific vehicles targeting technology, artificial intelligence and financial services, with the aim of expanding access to long-term capital for startups and micro, small and medium-sized enterprises.

It is also working with regulators to support the development of a digital-assets and fintech ecosystem.

In sustainable finance, NIFC says it is working with the Capital Markets Authority and other stakeholders on carbon-market regulations and investment structures aimed at attracting climate finance.

The Centre also plans to support the National Infrastructure Fund by helping structure and domicile project-specific investment vehicles that can connect priority infrastructure projects with domestic and international institutional investors.

“Our ambition is to build Nairobi into Africa’s Capital of Capital—the place where global capital meets African opportunity, where funds are domiciled, businesses are scaled and the continent’s future is financed,” said NIFC Chief Executive Officer Daniel Mainda.

“Oxford Economics has identified the talent, technology and industrial momentum. Our task is to mobilise the investment that turns this potential into jobs and lasting prosperity.”

NIFC says its role in supporting the National Infrastructure Fund will complement the Fund’s mandate and remain subject to applicable regulatory approvals.