Namibia 3rd richest in Africa

Namibia is ranked as one of the wealthiest countries in Africa per capita, with its citizens ranked as the third wealthiest individuals on the continent.As per yesterday’s exchange rate, the wealth of the average Namibian stands at N$14 802.This is according to the Africa Wealth Report, published by Henley and Partners in partnership with New World Wealth.However, the report seemed skewed when taking into account the high level of inequality in Namibia.At the beginning of the year, the Namibia Statistics Agency (NSA) said the income of the top 1% of Namibians is equal to the combined income of the bottom 50%.Meanwhile, Namibian Sun reported earlier this year that a shocking 1.6 million Namibians live in poverty, as defined by the World Bank.The number of poor people in Namibia is measured in terms of the upper middle-income poverty line at N$84.43 per person per day using the 2011 purchasing power parity terms. Namibia has 576 000 youths, of which 265 770 are unemployed.Mauritians top listAccording to the wealth report, Mauritians (N$54 738 per capita) are the wealthiest individuals in Africa, followed by South Africans (N$17 405 per capita).The report also measured the total wealth of African countries and, in this case, Namibia was ranked 13th.Total wealth refers to the private wealth held by all the individuals living in each country, it said, adding that this includes all their assets such as property, cash, equities and business interests, less any liabilities. Government funds were excluded.The total private wealth currently held in Namibia is N$3.5 trillion.According to the report, the country has 1 700 high net worth individuals (HNWIs), with private wealth of US$1 million and 60 centi-millionaires worth US$100 million or more.The report noted that Mauritius was recently rated by New World Wealth as the safest country in Africa, along with Namibia and Botswana.“Notably, safety is one of the key drivers of wealth growth in any country.”Windhoek was 20th among the African cities where the super-rich live, with 1 000 HNWIs and 40 multimillionaires.

Namibia 3rd richest in Africa

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Namibian Sun 2025-03-07

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Namibia 3rd richest in Africa

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Namibian Sun 2025-03-07

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