Mauritius population is the richest in Africa

According to a new Research and Markets report titled “The Africa 2016 Wealth Report”, Mauritius’ population is the richest in Africa with an average wealth of USD21,700 per person, while Zimbabwe’s is the poorest with a per capita wealth of just USD 200. Mauritius was ranked ahead of South Africa with a per capita wealth of USD10, 300, then Namibia (USD10, 200), Botswana (USD8, 400) and Algeria (USD6, 200).

The report which was in its third edition, examined various factors related to wealth in Africa, including the trends of High Net worth Individuals (HNWI), the luxury trends and wealth management trends in each country.

According to the report, the high wealth per capita in Mauritius could be explained by factors such as secure property rights, a thriving financial sector, low crime rates, migration of a large number of wealthy individuals, low taxes and low level of government regulation in the business sector.

It concluded that Africa has about 165,000 High Net worth Individuals, with combined wealth holdings of USD860 billion. About USD125 billion of the wealth of Africa’s HNWIs is tied up with wealth management companies.

Source: Mail & Guardian Africa
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Published on: 30 March 2016