Angola’s Personal Wealth Fastest Growing In Africa – Report

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Written by Kevin Mwanza

Personal wealth in Angola, one of Africa’s fastest growing economies, has grown five folds in slightly over a decade, making the county the top performer in Africa, Ventures Africa reported.

The growth in personal wealth in the oil rich country has surged 527 percent in the past 13 years, according to New World Wealth, an international wealth consultancy, which has released its analysis of Africa’s high net worth countries for 2013/14.

In the top five, Angola is followed by Namibia at 289 percent and Nigeria in the third place at 275 percent. Zambia is in the fourth position at 223 percent while Ethiopia is in the fifth place at 189 percent.

The New World Wealth analysis looks at the wealth movements of persons in each African country since 2000.

It looks in detail at the wealth of average individuals in each country in US dollar terms and matches this with other countries.