Rich South Africans moving to seaside village known as Africa’s “Boere Monaco”
High-Net-Worth South Africans are increasingly moving to a seaside village of Mauritius dubbed “Boere Monaco” due to the growing number of South African expats there.
Black River, which includes the affluent coastal village of Tamarin, recorded a 120% increase in its dollar-millionaire population over the past decade.
This makes the area on the small African island the fastest-growing millionaire hotspot in Africa.
This is according to the latest 2026 Africa Wealth Report by New World Wealth, which tracks the number of High-Net-Worth Individuals (HNWIs) across the continent.
The report said the growth in Black River was particularly notable due to demand for prime property in Tamarin among wealthy South Africans.
“Black River in Mauritius is the fastest growing millionaire hotspot in Africa with wealth growth of 120% recorded over the past decade,” New World Wealth said.
“It includes the affluent town of Tamarin, where prime property is highly sought after, especially among wealthy expats from South Africa.”
The growth comes as more South Africans consider Mauritius as an alternative base for their families, businesses, and investments.
Earlier this year, Brenthurst Wealth Management director Magnus Heystek said South Africans were increasingly relocating to Mauritius.
He added that this was because of what he described as the island’s favourable financial, tax, and business environment.
Mauritius does not currently impose estate duty, dividend tax or capital gains tax, while personal income tax is comparatively low.
Heystek said these benefits were among the major factors attracting wealthy South Africans.
He also pointed to crime, BEE requirements, and South Africa’s foreign-exchange controls as factors influencing some people’s decisions to relocate.
He said Mauritius provided a more stable environment for people looking to commit capital over the long term.
Crime has also been a longstanding reason cited by South Africans who choose to emigrate, and Heystek said Mauritius was attracting more than wealthy investors.
The South African hotspot
He said skilled professionals, entrepreneurs, and other highly driven South Africans were also moving to the island.
“A lot of the go-getters in the Mauritian society now are the South Africans who come here,” he said.
Heystek lives in Black River and said the concentration of South Africans in the area had earned it an unusual nickname.
“That’s why Mauritius is growing, attracting a lot of South Africans. Where I stay in Black River, there’s one that we call the ‘Boere Monaco’ because it’s just South Africans wherever you go,” he said.
The area has also undergone significant development, including Cap Tamarin, a large-scale mixed-use “smart city” development.
The development includes residential and commercial properties, retail facilities, schools, healthcare services, offices, senior residences, a cultural centre, sports facilities and a three-hectare park alongside the river.
Heystek said the development was helping meet demand from South Africans and other international residents.
He previously described its retail offering as comparable to the type of everyday shopping available through major South African retailers.
“The quality of medical care at the Life Medical Centre is world-class, which I can personally attest to, as it probably saved my life after a health scare last year,” he added.
Mauritius has actively encouraged foreign direct investment as part of its efforts to grow the economy.
Preliminary figures from the Bank of Mauritius showed France and South Africa among the largest sources of direct investment into the country.
This included property purchases, with acquisitions of luxury villas and apartments accounting for 18.6 billion Mauritian rupees, equivalent to about R6.6 billion.
The growth of Black River also stands out against other major millionaire hotspots identified by New World Wealth.
Marrakech in Morocco recorded 82% growth over the decade, while South Africa’s Whale Coast grew by 63%, the Cape Winelands by 55%, the Garden Route by 43% and Cape Town by 35%.
New World Wealth said Cape Town is on track to overtake Johannesburg as Africa’s wealthiest city by 2030.
However, Black River remained the standout performer, with its wealth growth putting the Mauritian coastal region at the top of the continent’s millionaire-growth rankings.
More images of Tamarin
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