The Mauritian bank Afrasia publishes the third edition of its ranking. Which African countries are the wealthiest and accumulate the most private wealth?

Which countries accumulate the most private wealth, where are the highest heritages, and how do they evolve? Where are the richest or most expensive cities …? While the total wealth held in Africa “has only increased by 14% in the last ten years (2008-2018),” the Afrasia Africa Wealth Report 2019 report provides a ranking of the contributions of 17 African countries to this ranking.

To lay some foundations, Afrasia recalls that with 16% of the world’s population (1.2 billion people) and $ 2.2 trillion in total wealth, Africa has only 1% of the world’s wealth (about $ 204 trillion). On average, net wealth per African is $ 1,900, compared with $ 27,000 globally.

  • The five richest African countries are South Africa, Egypt, Nigeria, Morocco and Kenya.
  • Despite South Africa’s persistent economic worries, it remains the richest on the continent, with a total wealth of $ 649 billion. 
  • Egypt follows with 303 billion and 16,700 holders of the wealth of the country.
  • Nigeria ranks third with $ 225 billion with 9,900 high net worth individuals.

Here is the complete list, according to the report:


Future prospects

AfrAsia predicts that the total wealth held on the African continent will increase by 35% over the next 10 years, reaching $ 3,000,000 by 2028.

Mauritius, Ghana, Rwanda and Uganda are becoming the most successful countries on the continent, their wealth is expected to more than double in the next decade.

South Africa, Tanzania and Côte d’Ivoire are expected to experience moderate wealth growth of around 30%.

Morocco, Egypt and Nigeria are expected to face challenges due to their weak growth prospects, ranging from 10% to 20%.


Source :

Keywords : Africa, News, Economy, Wealth, Growth, Millionaires, Billionaires


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