{"id":875535,"date":"2026-09-21T17:00:00","date_gmt":"2026-09-21T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=875535"},"modified":"2026-09-21T16:51:10","modified_gmt":"2026-09-21T14:51:10","slug":"rich-south-africans-moving-to-seaside-village-known-as-africas-boere-monaco","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/875535\/rich-south-africans-moving-to-seaside-village-known-as-africas-boere-monaco\/","title":{"rendered":"Rich South Africans moving to seaside village known as Africa’s \u201cBoere Monaco\u201d"},"content":{"rendered":"\n

High-Net-Worth South Africans are increasingly moving to a seaside village of Mauritius dubbed \u201cBoere Monaco\u201d due to the growing number of South African expats there.\u00a0<\/p>\n\n\n\n

Black River, which includes the affluent coastal village of Tamarin, recorded a 120% increase in its dollar-millionaire population over the past decade.<\/p>\n\n\n\n

This makes the area on the small African island the fastest-growing millionaire hotspot in Africa.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

The report said the growth in Black River was particularly notable due to demand for prime property in Tamarin among wealthy South Africans.<\/p>\n\n\n\n

\u201cBlack River in Mauritius is the fastest growing millionaire hotspot in Africa with wealth growth of 120% recorded over the past decade,\u201d New World Wealth said.<\/p>\n\n\n\n

\u201cIt includes the affluent town of Tamarin, where prime property is highly sought after, especially among wealthy expats from South Africa.\u201d<\/p>\n\n\n\n

The growth comes as more South Africans consider Mauritius as an alternative base for their families, businesses, and investments.<\/p>\n\n\n\n

Earlier this year, Brenthurst Wealth Management director Magnus Heystek said South Africans were increasingly relocating to Mauritius. <\/p>\n\n\n\n

He added that this was because of what he described as the island\u2019s favourable financial, tax, and business environment.<\/p>\n\n\n\n

Mauritius does not currently impose estate duty, dividend tax or capital gains tax, while personal income tax is comparatively low.<\/p>\n\n\n\n

Heystek said these benefits were among the major factors attracting wealthy South Africans.<\/p>\n\n\n\n

He also pointed to crime, BEE requirements, and South Africa\u2019s foreign-exchange controls as factors influencing some people’s decisions to relocate.<\/p>\n\n\n\n

He said Mauritius provided a more stable environment for people looking to commit capital over the long term.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

The South African hotspot <\/h2>\n\n\n\n
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He said skilled professionals, entrepreneurs, and other highly driven South Africans were also moving to the island.<\/p>\n\n\n\n

\u201cA lot of the go-getters in the Mauritian society now are the South Africans who come here,\u201d he said.<\/p>\n\n\n\n

Heystek lives in Black River and said the concentration of South Africans in the area had earned it an unusual nickname.<\/p>\n\n\n\n

\u201cThat\u2019s why Mauritius is growing, attracting a lot of South Africans. Where I stay in Black River, there\u2019s one that we call the \u2018Boere Monaco\u2019 because it\u2019s just South Africans wherever you go,\u201d he said.<\/p>\n\n\n\n

The area has also undergone significant development, including Cap Tamarin, a large-scale mixed-use \u201csmart city\u201d development.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Heystek said the development was helping meet demand from South Africans and other international residents.<\/p>\n\n\n\n

He previously described its retail offering as comparable to the type of everyday shopping available through major South African retailers.<\/p>\n\n\n\n

\u201cThe 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,\u201d he added. <\/p>\n\n\n\n

Mauritius has actively encouraged foreign direct investment as part of its efforts to grow the economy.<\/p>\n\n\n\n

Preliminary figures from the Bank of Mauritius showed France and South Africa among the largest sources of direct investment into the country.<\/p>\n\n\n\n

This included property purchases, with acquisitions of luxury villas and apartments accounting for 18.6 billion Mauritian rupees, equivalent to about R6.6 billion.<\/p>\n\n\n\n

The growth of Black River also stands out against other major millionaire hotspots identified by New World Wealth.<\/p>\n\n\n\n

Marrakech in Morocco recorded 82% growth over the decade, while South Africa\u2019s Whale Coast grew by 63%, the Cape Winelands by 55%, the Garden Route by 43% and Cape Town by 35%.<\/p>\n\n\n\n

New World Wealth said Cape Town is on track to overtake Johannesburg as Africa\u2019s wealthiest city by 2030.<\/p>\n\n\n\n

However, Black River remained the standout performer, with its wealth growth putting the Mauritian coastal region at the top of the continent\u2019s millionaire-growth rankings.<\/p>\n\n\n\n

\n\n\n\n

More images of Tamarin <\/h2>\n\n\n\n
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Image: Pam Golding Properties<\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/em><\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/em><\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/em><\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/em><\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/em><\/figcaption><\/figure>\n\n\n\n
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Image: Pam Golding Properties<\/figcaption><\/figure>\n\n\n\n
\n","protected":false},"excerpt":{"rendered":"

High-Net-Worth South Africans are increasingly moving to a seaside village dubbed \u201cBoere Monaco\u201d due to the growing number of South African expats there.\u00a0<\/p>\n","protected":false},"author":92,"featured_media":875649,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2102050484798271710","_sma_facebook_post_id":"191437357620492_2212183512935381","_sma_instagram_post_id":"17999739629808736","_sma_x_attempts":1,"footnotes":""},"categories":[9876],"tags":[20993,14022,6440,853],"class_list":["post-875535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-hnwis","tag-mauritius","tag-new-world-wealth","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/875535","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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=875535"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/875535\/revisions"}],"predecessor-version":[{"id":875657,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/875535\/revisions\/875657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/875649"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=875535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=875535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=875535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}