Breaking News

South Africa is the 33rd wealthiest country in the world

by Agencies
24 April 2018 | 1781 Views
As part of the AfrAsia Bank South Africa Wealth Report 2018 we looked at where South Africa stands in the global wealth picture.

According to the report, SA ranks 33rd worldwide in terms of total wealth and 38th worldwide in terms of number of HNWIs (as of Dec 2017).

Notes:
 - "Millionaires" or "HNWIs" refer to individuals with wealth of US$1 million (R12 million) or more.
 - "Wealth" refers to the net assets of a person. It includes all their assets (property, cash, equities, business interests) less any liabilities.

South Africa stats (at the end of 2017):
 - Total private wealth held in SA amounts to approximately US$722 billion. Around US$306 billion of this is held by HNWIs.
 - The average South African individual has net assets of US$12,900 (wealth per capita), which is the 2nd highest level in Africa, behind Mauritius.
 - SA is home to 43,600 HNWIs, each with net assets of US$1 million or more.
 - SA is home to 2,200 multimillionaires, each with net assets of US$10 million or more.
 - SA is home to 98 centi-millionaires, each with net assets of US$100 million or more.
 - SA is home to 5 billionaires, each with net assets of US$1 billion or more.

Worldwide stats (at the end of 2017):
 - Total private wealth held worldwide amounts to approximately US$215 trillion.
 - The average individual has net assets of US$28,400 (wealth per capita). Notably, affluent countries such as Monaco, Switzerland and Australia have wealth per capita's of well over US$200,000. Average wealth per person (wealth per capita) in the United States is US$193,000.
 - There are approximately 15.2 million HNWIs in the world, each with net assets of US$1 million or more.
 - There are approximately 584,000 multi-millionaires in the world, each with net assets of US$10 million or more.
 - There are approximately 26,600 centi-millionaires in the world, each with net assets of US$100 million or more.
 - There are 2,252 billionaires in the world, each with net assets of US$1 billion or more.





Future prospects for SA:
Despite being only the fifth-largest country in Africa in terms of population and ninth-largest by land area, South Africa is by far the most advanced and richest country on the continent.

South Africa has over twice as many millionaires (HNWIs) as any other African country. Things that attract and keep HNWIs in SA include:
 - Lifestyle aspects: wildlife, beaches, weather and scenery.
 - A good private healthcare system.
 - Top class private schools for their children.
 - Top class shopping centers (examples: Sandton City, Gateway, Montecasino, V&A and Hyde Park).
 - English speaking country.
 - Fully developed luxury market, where most of the major luxury brands are available.
 - Large number of luxury holiday destinations within country (examples: Kruger Park, Cape Town, Umhlanga, Ballito, etc.).
 - Luxury food stores such as Woolworths, which appeal to wealthy consumers.
 - Well established luxury areas (Camps Bay, Hyde Park, Westcliff, Umhlanga etc.)
 - Over 100 luxury residential estates.
 - Efficient private security companies including: CSS Tactical, G4S, Fidelity ADT and CAP Security, which help keep affluent neighborhoods safe.

Going forward, South Africa has strong fundamentals for wealth growth including:
 - A well-developed wealth management, fund management and banking system.
 - A large free media which helps disseminate reliable information to investors. This sets South Africa apart from most other African markets.
 - One of the 20 biggest stock exchanges in the world. Also, the JSE has been one of the fastest growing stock markets worldwide over the past 25 years (in terms of market cap growth).
 - South Africa is a potential hub for doing business in the rest of Africa.


Full report:
https://www.afrasiabank.com/en/about/contact/south-africa-wealth-report


South Africa AfriAsia Bank wealthiest country

Source: Agencies

Comments

Latest News

Open letter to Innocent Kufa - Dear Sir,      ...

by Gordon W. McFarlane | 23 February 2019 | 11 Views

Mnangagwa's gamble works for the economy - Monetary Policy is defined ...

by Dr Masimba Mavaza | 23 February 2019 | 2 Views

Zimbabwe's rural politics - The vulnerability of Rural Zimbabweans pol...

by Clement Moyo | 23 February 2019 | 4 Views

ZAA International launches Canada Edition

by Agencies | 23 February 2019 | 6 Views

Callistus Ndlovu to be buried today

by Staff rpeorter | 23 February 2019 | 7 Views

Chamisa snubs Mnangagwa indaba, again

by Staff reporter | 23 February 2019 | 4 Views

Cop faces 3 counts of criminal abuse of office - An Odzi police office...

by Staff reporter | 23 February 2019 | 1 Views

Ex-Zanu-PF MP in court over $9 000 debt - Former Zanu PF Mbire legisla...

by Staff reporter | 23 February 2019 | 6 Views

Mnangagwa solidarity march flops

by Staff reporter | 23 February 2019 | 1 Views

Can Zimbabwe learn from history, the pain of yesteryear? - CENTRAL ban...

by Editorial - newsday | 23 February 2019 | 4 Views

Shamed cheat commits suicide - A 41-YEAR-OLD married Shamva woman comm...

by Staff reporter | 23 February 2019 | 5 Views

Man found with live pangolins in bedroom - A BULAWAYO man has been arr...

by Staff reporter | 23 February 2019 | 7 Views

On the run MDC MPs, not on the run, says MDC

by Staff reporter | 23 February 2019 | 1 Views

Ex-cop sues Mathema, Matanga for contempt of court - A FORMER police o...

by Staff reporter | 23 February 2019 | 5 Views

Seven key PSL venues, including Rufaro condemned

by Staff reporter | 23 February 2019 | 1 Views

Zimbabwe lost $2 billion on 1:1 forex exchange rate

by Staff reporter | 22 February 2019 | 86 Views

Abusive Zanu-PF councillor sets wife alight - Zanu-PF Ward 9 councillo...

by Staff reporter | 22 February 2019 | 97 Views

Chamisa cries as his political career ends

by Dr Masimba Mavaza | 22 February 2019 | 462 Views

'Chamisa, Mnangagwa power-sharing not on the agenda'

by Staff reporter | 22 February 2019 | 68 Views

Ginimbi to 'tour' Australia

by Staff reporter | 22 February 2019 | 101 Views

Fake news rocks Zimbabwe military - Zimbabwe National Army has disowne...

by Staff reporter | 22 February 2019 | 215 Views

Caps United avert player strike over unpaid dues - HARARE giants Caps ...

by Staff reporter | 22 February 2019 | 36 Views

Mnangagwa courts Chinese

by Staff reporter | 22 February 2019 | 79 Views

Zimbabwe/South Africa officials to meet ahead of Ramaphosa visit

by Staff reporter | 22 February 2019 | 60 Views

MDC Alliance members run away with ballot papers - DIVISIONS in the MD...

by Staff reporter | 22 February 2019 | 102 Views

Woman arrested for obscene message to lover's wife - A 28-YEAR-OLD wom...

by Staff reporter | 22 February 2019 | 105 Views

Bulawayo takes deliberate affirmative action policy

by Staff reporter | 22 February 2019 | 47 Views

Two stabbed, axed in gold rush - AN illegal gold panner from Plumtree ...

by Staff reporter | 22 February 2019 | 47 Views

Bosso zero in on three for captaincy - HIGHLANDERS' technical bench ha...

by Staff reporter | 22 February 2019 | 28 Views

Entertainment

TinTin suffers mental illness scare

by Mandla Ndlovu | 19 February 2019 | 4134 Views

Bulawayo artiste blasts Mnangagwa - BULAWAYO artiste Njabulo "SizFire"...

by Staff reporter | 18 February 2019 | 609 Views

Jabu features in nasty indecent tape - Studio 263 actor Jabu (real nam...

by Staff reporter | 18 February 2019 | 1471 Views

Omkhula lament lack of arts promoters in Zimbabwe

by Staff reporter | 17 February 2019 | 1057 Views

'Bulawayo artistes more popular outside Zimbabwe'

by Staff reporter | 17 February 2019 | 879 Views

Sex makes Zodwa Wabantu fat

by Staff reporter | 17 February 2019 | 3419 Views

HIFA 2019 cancelled

by Mandla Ndlovu | 15 February 2019 | 764 Views

WATCH: Jah Prayzah and Misred drop Kunerima video

by Mandla Ndlovu | 12 February 2019 | 5538 Views
iBlog

Samsung Gear Vr Innovator Edition For S6: The Perfect Vr Intro For Professionals

we're drenched in talk about the impending wave of consumer-facing vr headsets about to hit the market, starting at the end of 2015. by contrast, you can walk into a best buy right now and pick up the samsung gear vr innovator edition for the galax... Read More
Sergey 20 June 2015 ago

Greatsoftline For All Of Your Software Needs

coupon and promo codes: greatsoftline for all of your software needswhile some online sellers have promotional services that reduce the overall amount you spent, others do not .you need to be on the lookout for the best outlets in order to chase th... Read More
ITnews 25 February 2015 ago