Wealthy individuals in five African nations including South Africa, Nigeria and Kenya see political instability as a significant threat to the preservation of their assets, according to a report commissioned by Standard Bank Group Ltd.<\/p>\n
Researchers from Johannesburg-based Intellidex surveyed 265 individuals in various industries across these countries to compile the report.<\/p>\n
It found that Africans were most concerned about political risk, with 82% of South African respondents citing it as significant.<\/p>\n
That compares with 67% in Ghana, 64% in Nigeria and 55% in Kenya. Only 31% of Mauritian respondents saw the political environment as a threat.<\/p>\n
The role political stability plays in deepening economic and social progress is beyond debate, Standard Bank economist Simon Freemantle said in the report.<\/p>\n
\u201cThe absence of political calm – a reality which still besets many African economies – has the ability to fundamentally constrain economic growth and institutional reform, deter investment, and compound already pressing welfare and humanitarian challenges,\u201d he said.<\/p>\n
About 67% of respondents had an estimated net worth of $1 million to $5 million, with the rest estimated to have wealth exceeding $5 million.<\/p>\n
Other findings from the report:<\/p>\n