A collaborative report released in April 2017 by the AfrAsia Bank and the New World Wealth has shown that the wealthiest Africans live in the little African island of Mauritius while Zimbabwe has the poorest, as Mauritians have $25 700 in wealth per person, making them the wealthiest in Africa.
With an average wealth of $11,300 per person, South Africans are ranked the second wealthiest people in Africa, while Namibians come third with an average wealth per person of $10 200.
Zimbabweans were ranked the poorest in wealth per person, with an average of just $200.
The report shows that 34% of African ‘high net worth individuals’ (HNWI) (millionaires in this regard) owned residential property in other countries at the end of 2016, and especially preferred international cities such as London, New York, Geneva, Sydney, Paris, Melbourne, Tel Aviv and Dubai.
A large number of African millionaires also buy homes in other African countries, most notably South Africa, the report further reveals.
Notably, the majority of African millionaires reported to purchase houses in South Africa are from Angola, Ghana and Nigeria.
The wealth advisory firm pointed out that “wealth per capita” refers to the average wealth of a person living in each country.
In the past 10 years up to 2016, Mauritius has recorded a top performance in terms of the steady growth in wealth, recording a surge of 230% in the chart.
Ameenah Gurib-Fakim is the current President of Mauritius, she assumed office on the 5th of June, 2015.