iAfrica

Be Smart About South Africa

These African States Tipped to be the Fastest-growing Markets for Centi-millionaires in Next 10 Years

The Centi-Millionaire Report, released by Henley & Partners, is the first global study of ultra-high-net-worth individuals who boast $100 million in investable assets. There were 25,490 centi-millionaires in the study. The report “pulls back the curtain on” the lives and livelihoods of the super-rich, which destinations they call home, their spending habits, and their wealth management strategies. In Africa, South Africa is the top-ranked country with 92 centi-millionaires — it holds 27th position globally. Ntoudi Mouyelo, Chief Investment Officer of the Kigali International Financial Centre (KIFC), tells FORBES AFRICA that although Africa is not on the top global rankings yet for centi-millionaires, there has been an increasing number of wealthy individuals on the continent. “The reason why those countries have been listed, starting with Rwanda,” Mouyelo adds, “is because there is a dynamic economy that can leverage [off] a solid ground of legal fiscal framework with a growing number of skilled professionals to serve the economy.”

SOURCE: FORBES AFRICA

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