The 2022 Africa wealth report has revealed that Zambia has two individuals who have a network of over US$100 million (over K1.8 billion) in privately held wealth.
According to the Africa Wealth Report published by Henley & Partners, the global leader in residence and citizenship by investment, in partnership with South African wealth intelligence firm New World Wealth, the ‘Big 5’ wealth markets in Africa are: South Africa, Egypt, Nigeria, Morocco and Kenya in that order.
Zambia has only two high net worth individuals – HNWI with net worth of over $100million, has 30 individuals with US$10 million and above, and only 800 individuals with networth of over $1 million.
Zambia currently has no billionaire in US dollar terms but Africa has six countries listed to have citizens with net-worth of over $1 billion. Egypt has the highest number with seven (7) billionaires, followed by South Africa with five (5) billionaires, Nigeria has four (4) billionaires while Morocco has three billionaires.
Other countries with one billionaire each are Tanzania and Angola. The report did not however state who these individuals are for confidentiality purposes but most of them are well known in their respective countries. See table below of the ranking.
For Zambia – Who do you think makes up the two millionaires with their wealth estimated at over $100 million or K1.8 billion?
