Study reveals Mauritians are Africa’s richest

Residents queue up to vote outside the Ksar polling station in Nouakchott on November 23, 2013. Mauritians are the richest people in Africa per capita, a new study has shown. PHOTO| MOHAMED OULD ELHADJ | AFP

What you need to know:

  • The April 2017 report defines wealth per capita as the average treasure of a person, and does not put into consideration government statistics.
  • According to the study, an average Mauritian has assets totalling to $25,700.
  • South Africans, the report shows, are the continent’s second richest people with an average wealth per person of $11,300 in 2016.
  • Namibians are ranked third with an individual’s wealth standing at $10,800 while Botswana is fourth at $6,700.

WINDHOEK

Mauritians are the richest people in Africa per capita, a new study has shown.

The Africa Wealth Report 2017 was produced by New World Wealth for Mauritian private and corporate bank — AfrAsia — and published by The Namibian newspaper.

The April 2017 report defines wealth per capita as the average treasure of a person, and does not put into consideration government statistics.

The study was conducted last year.

“The researchers preferred to use wealth per capita rather than GDP per capita to determine a person’s riches,” the report added.

It said GDP ignores the efficiency of the local banking industry and stock market at retaining wealth.

According to the study, an average Mauritian has assets totalling to $25,700.

NAMIBIANS RANKED THIRD

South Africans, the report shows, are the continent’s second richest people with an average wealth per person of $11,300 in 2016.

Namibians are ranked third with an individual’s wealth standing at $10,800 while Botswana is fourth at $6,700.

Mauritius, an Indian Ocean archipelago, is seen as a model of stability and economic prosperity in Africa.

Once dependent on sugar exports, the island has built strong outsourcing and financial institutions.

The island-nation’s tourism industry is among the best performing in the world.

SOVEREIGNTY

Mauritius claims sovereignty over Chagos islands, around 1,000 kilometres to the north-east and are home to the United States military base of Diego Garcia.

Mauritius argues that the island was carved from it before independence from France.

Several hundred islanders were expelled to make way for the base.

After Botswana is Egypt at $3,700, Angola ($3,600), Algeria ($3,300), Morocco ($3,300), Kenya and Ghana ($2,200), Cote d’Ivoire ($1,900), Nigeria ($1,600) and Tanzania and Zambia ($1,200), Uganda ($1,000), Mozambique ($800) and Ethiopia ($600).