• RCSO

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:


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RCS Ottawa

Basil Crozier - Chair

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