Hey, guys, I was looking into how wealthy African countries are in terms of wealth per adult, measured in USD. Any idea where different countries stand compared to each other?
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Understanding the wealth per adult in African countries can vary significantly. Countries like Mauritius and South Africa tend to have higher wealth per adult compared to others in the region, often reflecting differences in economic development, natural resources, and income distribution. It’s important to look at recent data and consider factors like GDP per capita and income inequality to get a clearer picture.
Here are approximate figures for wealth per adult in selected African countries, based on recent data:
- Mauritius: Wealth per adult around USD 27,000.
- South Africa: Wealth per adult approximately USD 11,500.
- Botswana: Wealth per adult about USD 8,500.
- Namibia: Wealth per adult around USD 5,000.
- Kenya: Wealth per adult approximately USD 3,000.
- Nigeria: Wealth per adult about USD 2,000.
- Ghana: Wealth per adult around USD 1,800.
- Ethiopia: Wealth per adult approximately USD 1,000.
- Zimbabwe: Wealth per adult about USD 800.
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Africa has USD 2.5 trillion in investable wealth, with the number of millionaires expected to increase by 65% over the next decade. The continent now has 135,200 high-net-worth people (HNWIs), 342 millionaires, and 21 billionaires. South Africa, Egypt, Nigeria, Kenya and Morocco make up 56% of Africa’s millionaires and more than 90% of its billionaires. However, currency depreciation and underperforming stock markets have had an impact on wealth, with the South African Rand dropping 43% opposed to the US dollar between 2013 and 2023. Africa has also lost 18,700 HNWIs to migration over the last decade.
