MORE than half of Africa’s total wealth is controlled by only three nations according to this year’s Africa Wealth Report (pdf) published by UK investment consultancy firm Henley & Partners in partnership with South African wealth intelligence firm New World Wealth.
South Africa, Egypt, and Nigeria which respectively command $651 billion, $307 billion, and $228 billion in private wealth make up $1.18 trillion, translating to 56% of Africa’s $2.1 trillion total wealth, which is different from GDP, a monetary measure of the market value of all the goods and services produced in a specific time period in a country.
Morocco and Kenya close the top five list in the continent with total private wealth worth $125 billion and $91 billion, respectively.
“From a global perspective, South Africa, Nigeria, and Egypt were among the top 15 nationalities in terms of the inquiries Henley & Partners received last year. South Africa was in 5th place
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