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Africa is currently facing big changes and is growing fast, a lot of its countries are developing and the number of HNWI and UHNWI is only going higher. Even though the continent faced many challenges in addition to the Covid-19 crisis, it\u2019s still standing and moving forward.<\/p>\n
Around 136 000 HNWI<\/strong> are living in Africa with an estimated Wealth of 2 trillion USD<\/strong>. Those number are going up, for example, it\u2019s expected to see around 40% more HNWI in Nigeria alone over the coming decade.<\/p>\n This is an important opportunity for all private banks to develop their portfolios. A lot of work is to be done, but all figures are encouraging private banks to develop their presence in African countries.<\/p>\n The African Market is growing<\/strong>, especially Tech Start-Ups<\/strong>, which number grew 6 times faster between 2015 and 2020 than the average (46% vs 8%)<\/p>\n According to private bankers, the African market is requiring new technology solutions. African HNWI, UHNWI and families<\/strong> want to invest all around the world and are looking for remote banking.<\/p>\n With the African Private Banking Market value increasing<\/strong>, the need for more solutions is growing as well. This concerns Wealth Management, Asset Management and more.<\/p>\n Experts are optimists about the future of Private Banking in Africa<\/strong>, and whilst some private banks left the continent because of the Covid-19 crisis, other ones are taking the opportunity and are expecting a remarkable growth.<\/strong><\/p>\n \n","protected":false},"excerpt":{"rendered":" Africa is currently facing big changes and is growing fast, a lot of its countries are developing and the number of HNWI and UHNWI is only going higher. Even though the continent faced many challenges in addition to the Covid-19 crisis, it\u2019s still standing and moving forward. Around 136 000 HNWI are living in Africa…<\/p>\n","protected":false},"author":46,"featured_media":16263,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[603,50,1185,979,571,572],"class_list":["post-16262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asset-management-en","tag-banking","tag-finance-en","tag-investment-banking","tag-private-banking-en","tag-wealth-management-en","category-25","description-off"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t