Mauritians are the wealthiest individuals in Africa with an average wealth of US$25,700 per person, whilst people living in Zimbabwe are the poorest with US$200 per person. Interestingly, This was revealed in the just-published ‘AfrAsia Bank Africa Wealth Report 2017‘.
Note: “wealth per capita” refers to the average wealth of a person living in each country. It excludes government held wealth.
Other key findings from the report at the end of 2016 include:
▪ The average African individual had net assets of approximately US$2,000 (wealth per capita).
▪ Total individual wealth held on the continent amounted to US$2.2 trillion.
▪ There were approximately 145,000 HNWIs (high net-worth individuals) living in Africa, with combined wealth holdings of approximately US$800 billion.
▪ There were 7,010 multi-millionaires living in Africa.
Growth rate trends:
▪ African HNWI numbers have increased by 19% during the review period (2006-2016).
▪ 2016 was a bad year for African HNWIs. Their numbers decreased by 2% during the year.
▪ HNWI numbers in Africa are expected to rise by 36% over next 10 years, reaching approximately 198,000 by 2026.
Source: AfrAsia Bank and New World Wealth
Read the full report below: