The Africa Wealth Report published by Henley & Partners in collaboration with New World Health is the continent\u2019s annual benchmark for private wealth research and is now in its 7th year, providing a comprehensive review of the wealth sector in Africa, including trends among HNWIs (high-net-worth individuals), the luxury market, and wealth management.<\/p>\n

According to this year\u2019s report, the \u201cBig 5\u201d of private wealth are South Africa, Egypt, Nigeria, Morroco, and Kenya as they hold over 50% of the continent’s wealth. The total value of private wealth held in Africa is US$2.1 trillion and is expected to rise by 38% over the next 10 years.<\/p>\n

Andrew Amoils, Head of Research at New World Wealth, explains that private wealth refers to all an individual\u2019s net assets (property, cash, equities, and business interests) less any liabilities. He says;<\/p>\n

\u201cAfrica is home to some of the world\u2019s fastest-growing markets, including Rwanda, Uganda, and Mauritius. We forecast private wealth growth of over 60% in all three countries in the next decade, driven by especially strong performance in the technology and professional services sectors.\u201d<\/p><\/blockquote>\n

There are currently 136,000 high-net-worth individuals (HNWIs) with a private wealth of US$1 million or more living in Africa, along with 305 centi-millionaires worth US$100 million or more, and 21 US dollar billionaires.<\/p>\n

Despite a tough past decade, South Africa is still home to over twice as many HNWIs as any other African country, while Egypt now has the most billionaires. Mauritius has the highest wealth per capita (average wealth per person) in Africa, at USD 34,500, followed by South Africa at USD 10,970 and Namibia at USD 9,320.<\/p>\n

The report has shown Mauritius to be the fastest-growing wealth market in Africa, with projected growth of 80% over the next decade. This will also make it one of the fastest-growing high-income markets in the world over this period (in percentage growth terms), together with Australia, Malta, New Zealand, and Switzerland. By 2031, HNWI numbers in Mauritius are expected to reach over 8,000.<\/p>\n

Zimbabwe is not mentioned anywhere in the report and it is understandable as the economy is currently very unstable and the majority of Zimbabweans live in poverty.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Africa Wealth Report published by Henley & Partners in collaboration with New World Health is the continent\u2019s annual benchmark for private wealth research and is now in its 7th year, providing a comprehensive review of the wealth sector in Africa, including trends among HNWIs (high-net-worth individuals), the luxury market, and wealth management. According to… Continue reading Africa Wealth Report 2022: South Africa, Egypt, Nigeria, Morocco, and Kenya Account For More Than 50% Of Africa\u2019s Total Wealth<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":6103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[275,2,7],"tags":[2076,2081,136,2078,655,2082,2080,2077,1244,2079,138],"yoast_head":"\n