South Africa leads top 9 richest countries in Africa in 2019

The 2019 Wealth Report which is compiled by AfriAsai Bank has ranked African countries according to their wealth on the continent.

On the ranking, South Africa tops the list with its total High Net Worth Individuals (HNWI) where 39,200 people are holding most of the country’s wealth at $649 billion.

Egypt follows with 303 billion and 16,700 holding the country’s wealth. Nigeria follows in the third position with 225 billion with 9,900 wealthy individuals.

Below is the full list, according to the report:

  1. South Africa - $649 billion
  2. Egypt - $303 billion
  3. Nigeria - $225 billion
  4. Morocco $114 billion
  5. Kenya $93 billion
  6. Angola $69 billion
  7. Ghana $59 billion
  8. Ethiopia $57 billion
  9. Tanzania $57 billion

South Africa leads top 9 richest countries in Africa in 2019

Nigeria secures the third position with $225 billion and 9,900 holding the countries wealth

A breakdown of what the wealthiest among them, the Waltons, makes is mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day.

The Waltons are the family behind Walmart Inc, an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.

The Walton fortune has swelled by $39 billion to $191 billion, since topping the June 2018 ranking of the world’s richest families.

Other American dynasties are close behind in terms of the assets they’ve accrued. The Mars family, of candy fame, added $37 billion, bringing its fortune to $127 billion. The Kochs, the industrialists-political-power-players, tacked on $26 billion, to $125 billion.

Source: Ghana News - Yen.com.gh

The Economic Articles

Economic Indicators