Based
on information from the wealthy individuals’ database maintained by research
firm New World Wealth and Henley & Partners, the study was released.
According
to the report's data, the continent of Africa currently has 2.1 trillion USD in
total private wealth, and over the next ten years, that amount is predicted to
increase by 38%. The research also stated that the success of frontier
economies, which would be motivated by the need to diversify income-creating
sources, will be related to the production of wealth and the flow of capital
across the continent.
Another
significant finding from the study showed that there are currently 21
billionaires with a net worth of $1 billion or more in Africa, 305
centi-millionaires with a net worth of $100 million or more, and 136,000 HNWIs
with a private wealth of $1 million or more.
It's
interesting to note that while Egypt became the African nation with the most
billionaires, South Africa continues to have the highest concentration of HNWIs
on the continent.
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