12% drop in private wealth in SA over the last decade and Mauritius is leaving the rest in the dust

Loading player...
A comprehensive review of the wealth sector in Africa has found that Africa’s wealth has decreased over the last decade in dollar terms from $2.2trn to $2.1trn, and the number of millionaires with assets over $1m has dropped by 2000 from 136,000 in 2011. The number of centimillionaires and billionaires has however shot through the roof.  In their report, Henley and Partners and New World Wealth (NWW) highlighted the rise of frontier economies like Mauritius while South Africa’s performance over the past decade has been poor, with total private wealth held in the country declining by 12%. A research director at NWW, Andrew Amoils told BizNews about other trends they have identified including that many of South Africa’s super rich are abandoning their large houses and moving not only to estates, but into apartments, and investing in passion. They are predicting major growth in private wealth in South Africa and the rest of the continent in the next decade. The full report is available on the BizNews website. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices
26 Apr 2022 3AM English South Africa Investing · Business News

Other recent episodes

Boardroom Talk: RIP RW Johnson - leaving a huge hole in your nation's heart

In today's Boardroom Talk, Alec Hogg confirms the death of RW Johnson, one of South African political writing's sharpest and most combustible voices, and reflects on a decade of working with him: the audiobook that started it, the necrotising fasciitis he refused to let slow him down, the Steenhuisen column…
22 Jul 5AM 19 min

Unlocking High-Yield Private Debt: The Jaltech Income Opportunities Fund

Join the leadership team at Jaltech for an exclusive overview of the new Jaltech Income Opportunities Fund - a spin-off from their highly successful Section 12J investment strategy. Designed to target structured debt funding for established, mid-sized South African businesses, this fund addresses an unserved niche left open by traditional…
24 Jul 5AM 29 min

BN Daybreak: Zille on Joburg's last chance; AI stock warnings; Cape gangs; Civic tech

In today's BizNews Daybreak, Helen Zille warns Johannesburg faces its final chance to reverse municipal collapse. Heindrich Wyngaard explains why military presence alone cannot dismantle the Cape Flats' deep-rooted gang economy. Lance Dickson introduces "Ryze," a platform channeling public rage into organized civic action. Finally, Sean Peche cautions investors against…
23 Jul 11PM 15 min