The island where Africa’s rich get richer
Last year was tough for Africa’s wealthy. Across the continent, the rich saw their ranks decline. Tiny Mauritius, however, bucked the trend in a big way.
There were approximately 145,000 people with net assets worth $1 million or more living in Africa at the end of 2016, down 2% from the previous year, according to a report by AfrAsia Bank. In Mauritius, meanwhile, the number of millionaires grew by 20% in 2016, to 3,800, more than in much larger countries like Ethiopia and Ghana. (The average African has a net worth of $2,000.)
Still, established economies such as South Africa and Egypt are home to the most millionaires on the continent: