This Africa Wealth Report provides a comprehensive review of the wealth sector in Africa, including HNWI trends, luxury trends and wealth management trends in each country.
Scope of the report:
- African countries ranked by HNWIs and multi-millionaires.
- The top performing African countries for HNWIs.
- The top African cities for HNWIs and multi-millionaires.
- The fastest growing African cities for HNWIs.
- African countries ranked by average wealth per person.
- The top luxury markets in Africa by revenue.
- Spending review of African HNWIs, including: behavioural mapping, collectables, prime real estate, second homes review, clothing, cars, hotels, watches, liquor, private jets and yachts.
- Review of African wealth management sector, including major players by AuM in each country.
- Mauritians are the wealthiest individuals in Africa with US$21,700 in wealth per person, whilst people in the Zimbabwe are the poorest with US$200 per person.
- There are approximately 165,000 HNWIs living in Africa, with combined wealth holdings of US$860 billion.
- Approximately US$125 billion of African HNWI wealth is tied up with wealth management companies.
- South Africa (mainly Johannesburg) is the hub for African private banking with US$72 billion in AuM.
- African HNWIs (outside South Africa) tend to keep their funds in traditional holding centers such as the UK, the Channel Islands and Switzerland. Dubai is another popular destination, especially for North African HNWIs.
- It is estimated the African private banking market will grow by 7% per annum over the next 10 years.
- The most promising emerging African markets for private banking are Ghana and Kenya.
- In Africa, around US$28 billion is tied up in venture capital companies and foundations that are linked to the wealthy. Many HNWIs use these vehicles as a way to transfer money to the next generation.
- ABSA Wealth (Barclays)
- Afrasia Bank
- Credit Suisse
- Credo Group
- Momentum Group
- Old Mutual Wealth
- PSG Konsult
- Standard Bank Pvt Clients
For more information about this report visit http://www.researchandmarkets.com/research/22635n/the_africa_2016
Related Topics: Wealth Management
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/africa-wealth-report-2016-south-africa-mainly-johannesburg-is-the-hub-for-african-private-banking-with-us72-billion-in-aum---research-and-markets-300315866.html
SOURCE Research and Markets