…South Africa Leads in Number of HNWIsThe 2016 Africa Wealth Report and third in the series produced by Research and Markets has stated that Mauritians are the wealthiest individuals in Africa with an estimated US$21,700 in wealth per person. It provides a comprehensive review of the wealth sector in Africa, including, luxury trends and wealth management trends in each country and number of High Net Worth Individuals (HNWI), with South Africa having the highest number. It revealed that African HNWIs (outside South Africa) tend to keep their funds in traditional holding centers such as the UK, the Channel Islands and Switzerland. “In Africa, around US$28 billion is tied up in venture capital companies and foundations that are linked to the wealthy. Captured comprehensively in a separate report “The South Africa 2016 Wealth Report”, the authors noted that South Africa is the largest HNWI market in Africa.

Source: The North Africa Journal August 22, 2016 05:38 UTC