The number of new millionaires in Africa is steadily growing, with more than 160 000 individuals holding around US$660 billion in personal wealth at the end of 2014, according to the New World Wealth Africa Wealth Report for 2015. More impressively, the report points to Africa having the fastest growing high net worth (HNW) individual market in the entire world: the number of African individuals classified as HNW has increased by 145% over the past 14 years, compared to worldwide HNW growth of 73% over the same period. (more…)
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