\n
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":[],"_links":{"self":[{"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/posts\/16262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/comments?post=16262"}],"version-history":[{"count":1,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/posts\/16262\/revisions"}],"predecessor-version":[{"id":16270,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/posts\/16262\/revisions\/16270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/media\/16263"}],"wp:attachment":[{"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/media?parent=16262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/categories?post=16262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.elkho-group.com\/en\/wp-json\/wp\/v2\/tags?post=16262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}