South Africans wealthiest on the continent
Publish date: 13 January 2014
Issue Number: 560
Diary: IBA Legalbrief Africa
Category: Africa Focus
A report on the IoL site notes that individual wealth of the average South African had increased to $11 310 at the end of last year from $4 200 in 2000 on the back of stable asset ownership, a functional banking system and a free and independent media.
That's according to a senior analyst at New World Wealth. Andrew Amoils was speaking after the company released its Wealth Statistics in Africa report, which suggests that the average South African remains the richest on the continent. Nevertheless, growth in wealth has been slower than in several other African countries. Ethiopians remain the poorest with assets of $260 a person last year, while Angolans have grown their wealth fastest. The study analyses the wealth trends of individuals in 19 African countries between 2000 and 2013. It uses official countrywide income distribution statistics to determine the average wealth of individuals by country. Amoils said the figures for all African countries were well below the global average of $27 600. Full report on the IoL site
