Three Countries Possess Over 50% of Continent's Total Wealth TheExchangeEA: Africa
South Africa, Egypt, and Nigeria, with US$651 billion, US$307 billion, and US$228 billion in private wealth, respectively, account for US$1.18 trillion, or 56% of Africa's total wealth of US$2.1 trillion, which differs from GDP, a monetary measure of the market value of all goods and services produced in a country during a specific period.
"From a worldwide standpoint, South Africa, Nigeria, and Egypt ranked among the top 15 nationals in terms of queries received by Henley & Partners last year.""South Africa was in fifth place internationally, with 38% increase in 2021, Nigeria in seventh place with 15% growth, and Egypt in fourteenth place with 25% growth," Dominic Volek, group head of private clients at Henley & Partners, writes in the report.
According to Amanda Smit, the firm's South Africa managing partner, Mauritius has been"the fastest rising wealth market in Africa in terms of percentage, with an expansion of 74% between 2011 and 2021." The island also has Africa's most extraordinary per capita wealth, at US$34,500.
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