If African countries were to be ranked top to bottom according to their riches, the island country Mauritius will rank first place at the top while Zimbabwe rank at the very end of the tail.
A report by Research and Market titled, The Africa 2016 Wealth Report shows Mauritius as the richest country in Africa with the average wealth standing at $21,700 per person. Zimbabwe ranks at the bottom of the list with $200.
Mauritius casts a shadow even on Africa often talked about economies like South Africa, Nigeria, Egypt and Kenya. South Africa has a per capita wealth of $10,300, Namibia $10,200, Botswana $8,400 and Algeria $6,200.
The report highlights some of the factors that made Mauritius the richest country in Africa. These factors include low taxes, low crime rates, a flourishing financial sector, big number of wealthy immigrants, less government regulation in the private sector, and secure property rights.
This report (in its third edition) also delved into studying the trends of the High Net Worth Individuals (HNWIs), wealth management trends and the luxury trends in all the countries. The report says there are about …read more