{"id":50426,"date":"2013-12-03T12:54:30","date_gmt":"2013-12-03T10:54:30","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=50426"},"modified":"2013-12-03T12:56:33","modified_gmt":"2013-12-03T10:56:33","slug":"surge-in-africas-millionaires","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/50426\/surge-in-africas-millionaires\/","title":{"rendered":"Surge in Africa’s millionaires"},"content":{"rendered":"

Ethiopia has seen the fastest growth in terms of new millionaires in Africa, at 108% over the past six years, followed by Angola, Tanzania, Zambia and Ghana.<\/p>\n

This is according to new data by New World Wealth, an Oxford based wealth consultancy which has conducted an in-depth analysis of the African high net worth community.<\/p>\n

\u201cMillionaires\u201d refer to individuals with net assets of US$1 million or more (excluding their primary residences).<\/p>\n

The consulting firm said that over this same six year period many developed markets experienced a decrease in millionaire numbers. Overall, worldwide HNWI numbers are up by only 9% since 2007.<\/p>\n

South Africa remains the top African country for millionaires with 48,700 of these individuals in 2013, followed by Egypt with 22,800 and Nigeria with 15,700.<\/p>\n

In terms of growth rate forecasts to 2030, Ivory Coast comes out on top, followed by Zambia, Ghana and then Ethiopia.<\/p>\n

By 2030, South Africa is set to remain on top as the African country with the most millionaires, however, Nigeria will leap ahead of Egypt into second place.<\/p>\n

Africa: Fastest growing countries for millionaires, 2007 – 2013<\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nMillionaires (2007)
\n<\/strong><\/td>\n		Millionaires (2013)
\n<\/strong><\/td>\n		Growth<\/strong><\/td>\n<\/tr>\n
1<\/td>\nEthiopia<\/td>\n1,300<\/strong><\/td>\n2,700<\/td>\n108%<\/td>\n<\/tr>\n
2<\/td>\nAngola<\/td>\n3,800<\/strong><\/td>\n6,400<\/td>\n68%<\/td>\n<\/tr>\n
3<\/td>\nTanzania<\/td>\n3,700<\/strong><\/td>\n5,600<\/td>\n51%<\/td>\n<\/tr>\n
4<\/td>\nZambia<\/td>\n600<\/strong><\/td>\n900<\/td>\n50%<\/td>\n<\/tr>\n
5<\/td>\nGhana<\/td>\n1,600<\/strong><\/td>\n2,400<\/td>\n50%<\/td>\n<\/tr>\n
6<\/td>\nNigeria<\/td>\n10,900<\/strong><\/td>\n15,700<\/td>\n44%<\/td>\n<\/tr>\n
7<\/td>\nAlgeria<\/td>\n2,900<\/strong><\/td>\n4,100<\/td>\n41%<\/td>\n<\/tr>\n
8<\/td>\nIvory Coast<\/td>\n1,600<\/strong><\/td>\n2,100<\/td>\n31%<\/td>\n<\/tr>\n
9<\/td>\nMorocco<\/td>\n3,900<\/strong><\/td>\n4,900<\/td>\n26%<\/td>\n<\/tr>\n
10<\/td>\nKenya<\/td>\n6,700<\/strong><\/td>\n8,300<\/td>\n24%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

According to NWW, South Africa’s growth during the recorded period was at 14%, while Egypt only grew 2%.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nMillionaires<\/strong><\/td>\n<\/tr>\n
1<\/td>\nSouth Africa<\/td>\n48,700<\/td>\n<\/tr>\n
2<\/td>\nEgypt<\/td>\n22,800<\/td>\n<\/tr>\n
3<\/td>\nNigeria<\/td>\n15,700<\/td>\n<\/tr>\n
4<\/td>\nKenya<\/td>\n8,300<\/td>\n<\/tr>\n
5<\/td>\nTunisia<\/td>\n6,400<\/td>\n<\/tr>\n
6<\/td>\nAngola<\/td>\n6,400<\/td>\n<\/tr>\n
7<\/td>\nLibya<\/td>\n6,300<\/td>\n<\/tr>\n
8<\/td>\nTanzania<\/td>\n5,600<\/td>\n<\/tr>\n
9<\/td>\nMorocco<\/td>\n4,900<\/td>\n<\/tr>\n
10<\/td>\nAlgeria<\/td>\n4,100<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

More on the world\u2019s rich elite<\/h3>\n

SA home to most millionaires in Africa<\/strong><\/a><\/p>\n

South Africa\u2019s billionaires revealed<\/strong><\/a><\/p>\n

The richest city in South Africa<\/a><\/strong><\/p>\n

Mapping the world\u2019s billionaires<\/strong><\/a><\/p>\n

The world\u2019s richest people<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethiopia has seen the fastest growth in terms of new millionaires in Africa, at 108% over the past six years.<\/p>\n","protected":false},"author":10,"featured_media":47029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,6440,7117],"class_list":["post-50426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline","tag-new-world-wealth","tag-rich"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=50426"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50426\/revisions"}],"predecessor-version":[{"id":50431,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50426\/revisions\/50431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/47029"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=50426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=50426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=50426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}