Report: Namibian millionaires to rise by 80%

The number of millionaires living in Namibia is set to experience growth leading up to 2033, the latest Africa Wealth report says.The number of millionaires residing in Namibia saw an increase of 32% over a ten-year period from 2013 to 2023 and is only expected to grow, marketing and research firm Hendly said in its assessment of Namibia in the Africa Wealth report. “When looking at millionaire growth rates from 2013 to 2023, a different picture emerges. While South Africa and Egypt saw declines of 20% and 22%, respectively, countries like Mauritius (87%), Rwanda (84%), Morocco (35%), and Namibia (32%) all experienced significant growth in their millionaire populations. Mauritius’ high growth rate made it the third fastest growing market in the world for millionaires over this period,” the report said.Looking ahead to 2033, the growth rate of millionaires is expected to increase in excess of 50% in Mauritius, Namibia and Zambia, among others.“Going forward, over the next decade (to 2033), the likes of Mauritius, Namibia, Morocco, Zambia, Kenya, Uganda and Rwanda are all expected to experience 80% millionaire growth,” the report said.Global investments Namibia, like Mauritius, was also poised to have high-net-worth wealth markets over the same period.“Mauritius, with its stable governance and favourable tax regime, is projected to experience a remarkable 95% growth rate, positioning it as one of the world&#039;s fastest-growing wealth markets once more,” the report said.“Namibia, too, is poised for impressive high-net-worth growth, with a forecast exceeding 85% by 2033. The country&#039;s inclination towards offering residence by investment, coupled with its resource-rich economy and strategic location, is expected to attract global investors,” it added.Meanwhile, the continent’s population and resources pointed toward a budding middle class that can be built, the report said.“Looking ahead, Africa&#039;s youthful population and vast resources represent a significant opportunity. The continent&#039;s growing middle class and increasing consumer spending power make it an attractive market for foreign firms seeking new growth frontiers. Africa&#039;s natural wealth, from minerals to hydrocarbons to arable land, also provides a solid foundation for prosperity if harnessed responsibly and equitably,” the report said.

Report: Namibian millionaires to rise by 80%

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Republikein 2025-06-18

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Report: Namibian millionaires to rise by 80%

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