Share

Boom in African millionaires

Johannesburg - Last year the number of dollar millionaires in Africa grew faster than anywhere else in the world.

According to Aon Risk Solutions, the number of people in Africa with investable assets of $1m or more swelled 11.1% last year.

Worldwide, the number of dollar millionaires was 8.3% up and those in the Middle East 10.4% up.

Aon’s Mandy Barrett said the rapid growth in the number of millionaires in Africa is also evident from the growth in demand for financial products they require.

She said the use of risk products designed to provide for the needs of the super-wealthy had risen 175% over the past two years.

Barrett attributed the greater demand for products to a need to protect the assets being accumulated.

- Sake24

For business news in Afrikaans, go to www.sake24.com.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders