The Nairobi International Financial Centre (NIFC) has welcomed Nairobi’s selection as one of Africa’s five cities to watch in the Oxford Economics Global Cities Index 2026, alongside Accra, Cairo, Dakar and Luanda.
The ranking places Nairobi among a group of African cities expected to play an increasingly important role in the continent’s economic growth over the next 25 years, with the capital’s technology, financial services, industrial and demographic strengths underpinning its outlook.
Nairobi ranks 327th overall among 1,000 cities globally, but performs strongly on human capital, where it is ranked 26th.
Oxford Economics projects that the five African cities identified as Cities to Watch will collectively account for about one-third of the GDP growth generated by African cities covered by the index over the next 25 years.
The report describes Nairobi as East Africa’s commercial anchor and a natural gateway to the expanding markets of the East African Community.
More than three-quarters of Kenya’s financial activity is concentrated in the capital, strengthening its position as the country’s leading financial centre.
Nairobi’s technology ecosystem has also expanded rapidly, earning the city the nickname “Silicon Savannah”, with its pool of technology talent, digital infrastructure and innovation ecosystem attracting investment into fintech and related industries.
Oxford Economics forecasts that Nairobi’s information technology sector will grow by an average 5.5 per cent annually over the next 25 years, while finance is projected to expand by 4.1 per cent a year.
The growth outlook extends beyond services, with manufacturing and industrial activity expected to become an increasingly important source of jobs and economic output.
Oxford Economics projects Nairobi’s industrial output will exceed $38 billion (about Sh4.9 trillion) by 2050, representing average real growth of 4.4 per cent annually.
The expansion is expected to generate approximately 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 highlights Nairobi’s demographic expansion as an important driver of future economic activity.
The city’s population is projected to reach 12 million by 2050, creating additional demand for housing, transport, infrastructure, consumer services and investment.
Improved transport and logistics infrastructure is expected to support Nairobi’s integration with regional markets and strengthen its role as a distribution and commercial centre for East Africa.
However, the projected expansion also brings pressure on infrastructure and urban services, with the report pointing to the need for continued institutional strength as Nairobi manages rapid urbanisation.
For NIFC, the findings highlight the need to translate Nairobi’s growing talent base and economic potential into productive investment.
The Centre is prioritising the establishment and domiciliation of investment funds and sector-specific vehicles targeting technology, artificial intelligence and financial services.
The initiative is intended to broaden access to patient and growth capital for startups and micro, small and medium-sized enterprises (MSMEs).
NIFC is also supporting the development of a responsible digital-assets and fintech ecosystem in collaboration with relevant regulators.
In sustainable finance, the Centre is working with the Capital Markets Authority (CMA) and other stakeholders on carbon-market regulations and investment structures aimed at mobilising credible climate finance.
NIFC is also seeking to support the National Infrastructure Fund (NIF) by working with the Fund and relevant institutions to structure and domicile project-specific investment vehicles.
The vehicles are intended to connect priority infrastructure projects with domestic and international institutional investors, although NIFC’s role will remain complementary to the NIF’s mandate and subject to applicable regulatory approvals.
“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,” NIFC chief executive officer, Daniel Mainda, said.
“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,” he said.
Nairobi will also host the World Alliance of International Financial Centers (WAIFC) Extraordinary General Meeting (EGM) in April 2027.
The meeting is expected to bring together representatives of international financial centres from around the world, providing a platform for collaboration, exchange of best practices and stronger links between Nairobi and the global financial-centre community.
For Kenya, the combination of projected technology, financial and industrial growth places Nairobi at the centre of efforts to attract more domestic and international capital into the country’s expanding economy.
