In Africa, some people have a lot of money. An annual report on African fortunes shows us that these great fortunes are expected to increase by 65%. That’s a lot!
The countries with the most millionaires and billionaires are South Africa, Egypt, Nigeria, Kenya, and Morocco. Together, they represent most of the very rich people on the continent. But here’s something interesting: many of these wealthy individuals leave their home countries to live elsewhere. Why? Sometimes it’s for a better life, better schools for their children, or better hospitals.
How do they become rich? Well, some invest in things like coal, gold, or mines. But then they often reinvest their money in businesses in their own country, like new technologies, media, films, or even eco-tourism.
Some countries, like Mauritius and Namibia, want to attract these wealthy individuals. They offer tax benefits, which means these rich people pay less taxes. Namibia even has plans to use clean energies, like green hydrogen, which can be interesting for people who want to invest in this field.
In the next ten years, there will be even more millionaires in countries like Mauritius and Namibia. That’s good news for these countries!
