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Africa’s High Net Worth Individuals (HNWIs) Have Combined Wealth Holdings of US$660bn

Key highlights of the 2015 Africa 2015 Wealth Report are the following:

  • There were approximately 161,000 HNWIs living in Africa at the end of 2014, with combined wealth holdings of US$660 billion.
  • African HNWI numbers have increased by 145% during the past 14 years (2000-2014) compared to the worldwide HNWI growth rate of 73% during the same period.
  • HNWI numbers in Africa expected to rise by 45% over the next 10 years, reaching approximately 234,000 by 2024.
  • South Africa is home to the most HNWIs on the continent. Despite recent turmoil, Egypt ranks second on the list.
  • Mozambique is expected to be the fastest growing African market for HNWIs over the next 10 years, followed by the Ivory Coast and then Zambia.