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Africa’s private wealth to jump to $4 trillion by 2034

Africa’s private wealth to jump to $4 trillion by 2034

PRIVATE wealth in Africa will leap 65% over the next decade to US$4 trillion in new annual estimates, fuelled by growth in fintech, eco-tourism and business process outsourcing. Additional sectors like software development, rare metals mining, green tech, wealth management, media, and entertainment will further bolster the continent's wealth surge, according to the Henley & Partners Africa Wealth Report 2024. The international wealth advisory firm said Africa now has US$2.5 trillion in investable wealth and its millionaire population is set to rise by 65% or 223,080. Non-state wealth in 2022 stood at US$2.1 trillion and was expected to grow by…
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Fintech and energy illuminate DR Congo’s nascent startup ecosystem

Fintech and energy illuminate DR Congo’s nascent startup ecosystem

THE Democratic Republic of Congo (DRC), one of the world’s most resource-rich countries, is carving out a new prosperity niche as it emerges on the global tech scene. Known for its green metals, cobalt and copper, and the world's second-largest rainforest, the newest member of the East African Community is having a moment in the startup ecosystem. In 2023 the country raised US$62 million in startup funds, making it the single largest contributor to startup funding growth (33% year-on-year) in the where it is clustered. “While being the only region to grow significantly, from $51m in 2022 to $68m in…
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