LONDON - Private wealth’ refers to an individual’s net assets, namely all their assets (property, cash, equities, and business interests) less any liabilities.
Three African countries hold more than half of the continent’s total wealth, according to a new report on Africa’s wealth.
Africa statistics (for December 2021)
- US$2.1 trillion Total private wealth held on the continent.
- 136,000 Approximate number of millionaires (HNWIs) living in Africa, each with net assets of US$1 million or more.
- 6,700 Approximate number of multi-millionaires living in Africa, each with net assets of US$10 million or more.
- 305 Centi-millionaires living in Africa, each with net assets of US$100 million or more.
- 21 Billionaires living in Africa, each with net assets of US$1 billion or more.
These figures are reported by Africa Wealth Report 2022.
Mauritius gets a special mention as “the fastest growing wealth market in Africa in percentage growth terms, with growth of 74% between 2011 and 2021.” The island nation also has the highest wealth per capita in Africa, equivalent to $34,500. Faustine Ngila crunches the numbers of where the continent’s richest people live.
To download the full report, visit: https://cdn.henleyglobal.com/storage/app/media/Africa_Wealth_Report_220422_Digital_2.pdf
