Africa is the fastest growth region for private banking globally: New World Wealth

Africa has the world's fastest growth in high net worth individuals (HNWIs)

The private banking unit of South Africa-based Investec holds Africa’s largest portfolio of assets under management with USD 23.7 billion, reflecting increased demand for services from the affluent segment of the continent’s population.

Africa has just over 160,000 high net worth individuals (HNWI) who collectively hold around USD 660 billion in wealth. Approximately USD 120 billion is tied up with wealth management companies, according to New World Wealth.

Read more: Africa is the fastest growth region for private banking – Zawya.

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