10 African countries which posses 70% of all Africa's Wealth - Several of the poorest nations in the world are found in Africa. Many of the economies of these African countries are unstable, and poverty is widespread. To add salt to injury, the global pandemic back in 2020 and the escalating tensions between Russia and Ukraine have put millions of people in Africa on the verge of starvation. A hopeless situation seems to only be getting worse. Despite these challenges, the 54 countries that make up Africa have some of the fastest-growing economies in the world. It is predicted that the African economy, supported by its trade, agricultural, and natural resource sectors, will have a GDP of $29 trillion by 2050.
Unfortunately, very few countries account for a greater portion of Africa's wealth than the continent itself, which is unevenly distributed. According to the most recent 2022 Africa Wealth Report, which was published by Henley & Partners and New World Wealth, the total amount of private wealth currently held on the African continent is estimated to be USD 2.1 trillion, and it is expected to rise by 38% over the following ten years. Private wealth is a term used to describe a person's net assets, which can include things like cash, stocks, real estate, and business interests.
The majority of the wealthiest businesses and people in Africa, as measured by market capitalization and net worth, are headquartered in these five nations and others. Africa's wealth is measured in terms of its natural resources and socio-geographical potentials, including, but not limited to, coal, petroleum, chemicals, wood, metals, and minerals.
Despite Africa's disadvantages in comparison to other continents, its wealth is significant enough to warrant visible development. According to Henley's publication, only five countries account for more than half of Africa's wealth. Over the next ten years, these five countries are expected to experience strong growth in private wealth of more than 50%.
In this video, we will take a look at the 5 top countries with 50% of all Africa’s wealth. Be sure to like, subscribe and leave a comment.
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