Connect with us

Breaking

Nigeria, Egypt, 3 others account for over 50% of Africa’s total wealth

Published

on

Map of africa

South Africa, Egypt, Nigeria, Morocco and Kenya – together account for over 50 per cent of Africa’s total wealth, says the Africa Wealth Report, published by Henley & Partners, the global leader in residence and citizenship by investment, in partnership with South African wealth intelligence firm New World Wealth.

The report provides a comprehensive review of the wealth sector in Africa, including trends among high-net-worth individuals (HNWIs), the luxury market, and the wealth management sector on the continent. The wealth tiers opposite are considered in our analysis.

The Africa Wealth Report is the benchmark of luxury sector research in Africa. Knowing where affluent individuals live, understanding their spending habits and being aware of their preferences is critically important to the providers of wealth management and luxury services in Africa and globally.

Africa is home to some of the world’s fastest growing markets, including the likes of Rwanda and Mauritius. There are also several well-established wealth hubs on the continent, including South Africa, Egypt and Morocco that already host large numbers of HNWIs.

HNWIs in Africa are extremely mobile and their movements provide a valuable insight into future economic trends in each country. For instance, countries such as Mauritius that attract HNWIs through migration have a significant economic advantage over the rest.