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Port Louis - the capital of Mauritius, whose citizens are the wealthiest individuals in Africa / Photo: MTPA

The African countries with the wealthiest and poorest citizens

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.

It should be noted that all these figures are below the global average of US$27,000. Top ranked worldwide countries such as Switzerland and Australia have wealth per capita’s of over US$200,000.

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:

Africa-wealth-report-20171

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