Africa Wealth Report 2022
The Africa Wealth Report is the continent’s annual benchmark for private wealth research. Now in its 7th year, the report provides the most comprehensive review of the wealth sector in Africa, including trends among high-net-worth individuals, the luxury market, and wealth management. The report reveals that total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years, while Africa’s ‘Big 5’ private wealth markets together account for over 50% of the continent’s total private wealth. Africa is home to some of the world’s fastest growing markets, including the likes of Rwanda and Mauritius. There are also several well established wealth hubs on the continent, including South Africa, Egypt and Morocco, which already host large numbers of wealthy individuals (HNWIs). Notably, South Africa is home to over twice as many millionaires as any other African country, while Egypt has the most billionaires on the continent.