Tanzania topping is reported to be topping East African countries’ growing list of wealthy individuals.
The Wealth Report 2020 by real estate consultancy firm Knight Frank shows that Tanzania is the only country in the region to have produced a single individual controlling a net wealth of $1 billion or more, with the number of ultra-high-net-worth individuals (UHNWIs) holding $30 million or more worth of assets including their primary residence rising five per cent to 114 last year, from 109 in 2018.
The report also shows that the number of Tanzanian high-net-worth individuals (HNWI) with $1 million or more worth of assets including their primary residence rose eight per cent to 5,553 from 5,118 over the same period.
In Kenya the number of HNWI declined 15 per cent to 2,900 from 3,399, while the number of UHNWIs declined by 13 per cent to 42 from 48 individuals.
In Uganda, the number of HNWI declined by six per cent to 137 in 2019 from 146 in 2018 while the number of UHNWIs remained unchanged at five individuals.
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