Mauritius, Ethiopia and Rwanda are the fastest growing wealth markets in Africa according to the ‘AfrAsia Bank Africa 2017 Wealth Report’ published by New World Wealth in association with AfrAsia Bank.
The report which details the performance of High Net Worth Individuals, HNWIs in selected African countries between the end of 2006 and the end of 2016, placed Mauritius at the top in the continent for HNWIs during this period, with growth of 230%. HNWIs refer to individuals with wealth of $1 million or more.
“This report confirms our findings that the African Continent will demonstrate encouraging growth in Wealth Creation. Mauritius is a lending hub for Offshore Financial Services and will receive this “Wealth Flow” for management and investment. We therefore expect Mauritius to be the biggest beneficiary of this developing trend. At AfrAsia we are constantly preparing to benefit from this possible “Business Growth”. We have a strategy in place to do just that and this gives us the confidence that we are on the right track,” stated Sanjiv Bhasin, Chief Executive Officer of AfrAsia Bank.
The strong growth in millionaires in Mauritius has been assisted by the country’s Strong economic, the relocation to the country by a large number of wealthy individuals over the past decade, especially from France and Southern Africa.
Read the complete story at Africa Business Communities
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