12% drop in private wealth in SA over the last decade and Mauritius is leaving the rest in the dust

A comprehensive review of the wealth sector in Africa has found that Africa’s wealth has decreased over the last decade in dollar terms from $2.2trn to $2.1trn, and the number of millionaires with assets over $1m has dropped by 2000 from 136,000 in 2011. The number of centimillionaires and billionaires has however shot through the roof.  In their report, Henley and Partners and New World Wealth (NWW) highlighted the rise of frontier economies like Mauritius while South Africa’s performance over the past decade has been poor, with total private wealth held in the country declining by 12%. A research director at NWW, Andrew Amoils told BizNews about other trends they have identified including that many of South Africa’s super rich are abandoning their large houses and moving not only to estates, but into apartments, and investing in passion. They are predicting major growth in private wealth in South Africa and the rest of the continent in the next decade. The full report is available on the BizNews website. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices