{"id":72982,"date":"2014-11-13T00:05:32","date_gmt":"2014-11-12T22:05:32","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=72982"},"modified":"2014-11-12T17:03:06","modified_gmt":"2014-11-12T15:03:06","slug":"sa-dollar-millionaires-vs-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/72982\/sa-dollar-millionaires-vs-africa\/","title":{"rendered":"SA dollar millionaires vs Africa"},"content":{"rendered":"

South Africa remains the most millionaire-rich country on the African continent, but a troubled labour market and continued government disruption mean that other nations are surpassing the southern-most economy in terms of growth.<\/p>\n

According to new data from New World Wealth, there are approximately 165,000 HNWIs living in Africa, with combined wealth holdings of US$660 billion.<\/p>\n

This equates to roughly 28% of total individual wealth held on the continent ($2.4 trillion), the group said.<\/p>\n

With 48,700 dollar millionaires in South Africa, it represents 29.5% of the total HNWIs living in Africa.<\/p>\n

African HNWI numbers have increased by more than 150% during the past 13 years (2000-2013), New World Wealth said, compared to the worldwide HNWI growth rate of 73% over the same period.<\/p>\n

HNWIs are defined as individuals with a net worth greater than US$1 million (R10.6 million).<\/p>\n

Top 10 African countries for HNWIs<\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nHNWIs<\/strong><\/td>\n<\/tr>\n
1<\/td>\nSouth Africa<\/td>\n48,700<\/td>\n<\/tr>\n
2<\/td>\nEgypt<\/td>\n22,300<\/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>\nAngola<\/td>\n6,400<\/td>\n<\/tr>\n
6<\/td>\nTunisia<\/td>\n6,200<\/td>\n<\/tr>\n
7<\/td>\nLibya<\/td>\n6,000<\/td>\n<\/tr>\n
8<\/td>\nMorocco<\/td>\n5,000<\/td>\n<\/tr>\n
9<\/td>\nAlgeria<\/td>\n4,900<\/td>\n<\/tr>\n
10<\/td>\nNamibia<\/td>\n3,100<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Over the past 13 years, African nations have shown massive growth in the number of wealthy individuals in their populations.<\/p>\n

Angola and Ghana have both seen increases over 400%, off of low bases – but countries like Nigeria and South Africa, which already had relatively large millionaire populations, also saw large growth, well over double in number.<\/p>\n

African HNWI growth 2000 – 2013<\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nGrowth<\/strong><\/td>\nHNWIs 2000<\/strong><\/td>\nHNWIs 2013<\/strong><\/td>\n<\/tr>\n
1<\/td>\nAngola<\/td>\n482%<\/td>\n1,100<\/td>\n6,400<\/td>\n<\/tr>\n
2<\/td>\nGhana<\/td>\n400%<\/td>\n500<\/td>\n2,500<\/td>\n<\/tr>\n
3<\/td>\nNigeria<\/td>\n313%<\/td>\n3,800<\/td>\n15,700<\/td>\n<\/tr>\n
4<\/td>\nNamibia<\/td>\n244%<\/td>\n900<\/td>\n3,100<\/td>\n<\/tr>\n
5<\/td>\nEthiopia<\/td>\n238%<\/td>\n800<\/td>\n2,700<\/td>\n<\/tr>\n
6<\/td>\nAlgeria<\/td>\n172%<\/td>\n1,800<\/td>\n4,900<\/td>\n<\/tr>\n
7<\/td>\nBotswana<\/td>\n160%<\/td>\n1,000<\/td>\n2,600<\/td>\n<\/tr>\n
8<\/td>\nSouth Africa<\/td>\n145%<\/td>\n19,900<\/td>\n48,700<\/td>\n<\/tr>\n
9<\/td>\nIvory Coast<\/td>\n144%<\/td>\n900<\/td>\n2,200<\/td>\n<\/tr>\n
10<\/td>\nMorocco<\/td>\n127%<\/td>\n2,200<\/td>\n5,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Looking ahead into the next decade, New World Wealth expects the African growth story to continue, though notably slower than the decade before.<\/p>\n

Low-base countries such as Mozambique and Zambia are projected to lead with growth over 100%, while high-base countries will grow at smaller rates.<\/p>\n

South Africa is expected to increase its HNWI population by 35% over the next decade to 65,700 individuals.<\/p>\n

While this growth is slower than other African countries, South Africa is not expected to lose its crown as the top African country for HNWIs, outpacing the continent’s number two – Egypt – by at least 38,500 people.<\/p>\n

Projected African HNWI growth 2013 – 2023<\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nGrowth<\/strong><\/td>\nHNWIs 2013<\/strong><\/td>\nHNWIs 2023<\/strong><\/td>\n<\/tr>\n
1<\/td>\nMozambique<\/td>\n133%<\/td>\n900<\/td>\n2,100<\/td>\n<\/tr>\n
2<\/td>\nZambia<\/td>\n122%<\/td>\n900<\/td>\n2,000<\/td>\n<\/tr>\n
3<\/td>\nIvory Coast<\/td>\n118%<\/td>\n2,200<\/td>\n4,800<\/td>\n<\/tr>\n
4<\/td>\nTanzania<\/td>\n100%<\/td>\n200<\/td>\n4,000<\/td>\n<\/tr>\n
5<\/td>\nEthiopia<\/td>\n96%<\/td>\n2,700<\/td>\n5,300<\/td>\n<\/tr>\n
6<\/td>\nGhana<\/td>\n96%<\/td>\n2,500<\/td>\n4,900<\/td>\n<\/tr>\n
7<\/td>\nKenya<\/td>\n73%<\/td>\n8,300<\/td>\n14,400<\/td>\n<\/tr>\n
8<\/td>\nUganda<\/td>\n69%<\/td>\n1,600<\/td>\n2,700<\/td>\n<\/tr>\n
9<\/td>\nAngola<\/td>\n56%<\/td>\n6,400<\/td>\n10,000<\/td>\n<\/tr>\n
10<\/td>\nMorocco<\/td>\n50%<\/td>\n5,000<\/td>\n7,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

More on Africa<\/h3>\n

Joburg is the most popular destination in Africa<\/a><\/strong><\/p>\n

Life in South Africa getting worse: index<\/a><\/strong><\/p>\n

Africa\u2019s voice and Internet subscriber numbers<\/a><\/strong><\/p>\n

South Africa losing expat appeal<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report details which African nations are home the continent’s super wealthy – and which countries are primed for growth over the next decade.<\/p>\n","protected":false},"author":10,"featured_media":59675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1174,26,6441,6440],"class_list":["post-72982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-africa","tag-headline","tag-millionaires","tag-new-world-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/72982","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=72982"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/72982\/revisions"}],"predecessor-version":[{"id":73240,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/72982\/revisions\/73240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/59675"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=72982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=72982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=72982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}