Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

Africa’s 200 Hidden Billionaires

Editor by Editor
June 4, 2015
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

UBS Group AG, the Swiss company that says it banks more billionaires than any other, said wealthy Africans are rapidly adding to the ranks of the rich on the continent needing specialised financial services.

Key markets on the continent for UBS include Nigeria and South Africa, plus an East African block covering Kenya, Tanzania and Uganda, Martin Emodi, the bank’s head of wealth management in Africa, said Wednesday in an interview at the World Economic Forum on Africa in Cape Town.

“The market in Africa is still up for grabs and that’s what makes it so important to us,” Emodi said. “Wealth is growing faster. It grows on par with Asia now.”

RelatedPosts

Aliko Dangote’s wealth drops to $19 billion, now 80th world’s richest

All Set For Zenith Bank’s 7th Annual International Trade Seminar on Non-Oil Export

Patrice-Motsepe
Africa’s richest man is Nigeria’s Aliko Dangote, who ranks 56th on a global rich list with a fortune of $15.7 billion, according to the Bloomberg Billionaires Index.

In 2012, investor Mark Mobius said Africa may have as many as 200 “hidden” billionaires, many without publicly traded assets.

News continues after this ad


Wealthy individuals are emerging in Nigeria’s oil and gas and telecommunications industries, Emodi said. In South Africa, they can be found in consumer, retail and telecommunications. In East Africa, it’s trade, coffee and tourism, he said.

The increase in ultra-high-net-worth people, defined by UBS as having $50 million and more in bankable assets, is spurred by sub-Saharan African economies that are expected to grow by an average 4.5% in 2015, rising to 5.1% next year, according to the International Monetary Fund.

News continues after this ad


“On the rise is anything with significant scale—so people prevail by selling simple products or having retail stores,” Emodi said. “It’s all about scale and benefiting from growth in the lower to middle class in Africa.

SOURCE: Mail & Guardian Africa

Related

Tags: Aliko DangoteNews Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • SERAP threatens to sue INEC if 7 million Nigerians are not allowed to complete voters’ registration
    • Bitcoin on 5th day winning streak, hits highest level since June 13
    • Nigeria’s central bank, Africa Fintech Foundry to support 10 startups to boost eNaira adoption

    Follow us on social media:

    Recent News

    INEC plans e-transmission of results in Anambra poll, massive voter turnout in central zone

    SERAP threatens to sue INEC if 7 million Nigerians are not allowed to complete voters’ registration

    August 14, 2022
    Depegging sees Bitcoin hit $138,000 per token in UST

    Bitcoin on 5th day winning streak, hits highest level since June 13

    August 14, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com