A New Report Excludes Nigeria From 10 African Countries Where Wealth Is Better Distributed
- In Africa, Private sector wealth has soared to about $2.1 trillion, while wealth per capita varies for each country
- According to a new report, Mauritius is leading other African countries with the highest wealth per capita and private wealth
- The country is closely followed by South Africa, which has the highest private wealth and a commendable wealth per capita
According to Africa’s wealth report, about $2.1 trillion of wealth in Africa are in private hands, mainly in the private sector.
GDP per capita, the amount of national wealth divided by the total population, is higher in some African countries than in others.
Source: Getty Images
Least developed countries lead Nigeria
While wealth per capital is focused on how a country’s private sector wealth is shared. The Africa Wealth report exempts government funds.
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Business Insider stated that the report said that Mauritius has the best wealth per capita, which stands at about $34, 500 while private wealth in the country is around $44 billion.
Mauritius is followed by South Africa, with a per capita wealth of $10,970 and a staggering private wealth of $651 billion.
Namibia comes third in the list with a per capita wealth of $9,320. But the country is ranked 13th among the top African countries with the biggest wealth distribution.
The 10 African countries where wealth is most distributed.
- Mauritius: Wealth per capita, $34,500, the largest in Africa. Total private wealth in Mauritius is $44 billion.
- South Africa: Wealth per capita of $10,970. Private wealth: $65bn.
- Namibia: Wealth per capita is $9,320. Private sector wealth of $24bn.
- Botswana: Wealth per capita: $7,880. Private Sector Wealth: $19bn.
- Morocco: Wealth per capita is $3,380. Private sector wealth is $125bn.
- Egypt: Wealth per: $3,000. Private wealth: $307bn.
- Ghana: Wealth per capita of $1,890. Private wealth: $59bn.
- Kenya: Wealth per capita is $1,700. Private wealth. $91bn.
- Angola: Wealth per capita is $1,620. Private wealth is $53bn.
- Ivory Coast: Wealth per capita of $1,610: Private wealth: $43bn.
These 10 African countries have the highest number of millionaires in 2022
Legit.ng reported that Nigeria, Egypt, South Africa, Morocco and Kenya make up Africa’s biggest five economies which account for 50 per cent of the continent's total wealth, says the latest report 2022 Africa Wealth report, which is cited by Business Insider and confirmed by Legit.ng.
The report was published by a research firm, New World Wealth and Henley & Partners, which lists data based on wealthy individuals.
The report states that the total private wealth currently held on the African continent in US dollars is about $2.1 trillion and is forecasted to rise by 38 per cent in the next decade.
Source: Legit.ng
