Arnold mrass cannambo
JF-Expert Member
- Apr 13, 2018
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The ‘Big 5’ wealth markets in Africa are South Africa, Egypt, Nigeria, Morocco and Kenya,” said the report.
According to the September 2019 report, there are 23 Africans with assets valued at over Sh100 billion. Though higher in other parts of the world, they are not necessarily many, with the report putting the total number at slightly over 2,000.
Kenya may be the fifth wealthiest country in Africa but appears to lag behind its peers in producing the super-rich individuals.
While it has its fair share of individuals with assets valued at over Sh100 million ($1 million), also described as dollar millionaires, Kenya does not have a single person with assets of $1 billion (Sh100 billion) or a dollar billionaire.
This is according to the Africa Wealth Report 2019 by AfrAsia Bank headquartered in Mauritius, which measured wealth by the net assets of a person.
The report notes there are 8,600 Kenyans with assets of over Sh100 million ($1 million), another 340 valued at over Sh1 billion ($10 million) and 16, whose net worth is estimated at over Sh10 billion ($100 million).
South Africa, which is ranked as the wealthiest country in Africa with a total wealth of $659 billion has five dollar billionaires while Egypt though ranked second wealthiest has more dollar billionaires at six. These are followed by Nigeria (four) and Morocco (three).
Angola and Tanzania, both ranked lower than Kenya in the list of wealthiest African countries, but each have one dollar billionaire.
According to the September 2019 report, there are 23 Africans with assets valued at over Sh100 billion. Though higher in other parts of the world, they are not necessarily many, with the report putting the total number at slightly over 2,000.
Kenya may be the fifth wealthiest country in Africa but appears to lag behind its peers in producing the super-rich individuals.
While it has its fair share of individuals with assets valued at over Sh100 million ($1 million), also described as dollar millionaires, Kenya does not have a single person with assets of $1 billion (Sh100 billion) or a dollar billionaire.
This is according to the Africa Wealth Report 2019 by AfrAsia Bank headquartered in Mauritius, which measured wealth by the net assets of a person.
The report notes there are 8,600 Kenyans with assets of over Sh100 million ($1 million), another 340 valued at over Sh1 billion ($10 million) and 16, whose net worth is estimated at over Sh10 billion ($100 million).
South Africa, which is ranked as the wealthiest country in Africa with a total wealth of $659 billion has five dollar billionaires while Egypt though ranked second wealthiest has more dollar billionaires at six. These are followed by Nigeria (four) and Morocco (three).
Angola and Tanzania, both ranked lower than Kenya in the list of wealthiest African countries, but each have one dollar billionaire.