Tanzania Ranked Ninth in Africa's Billionaire List, Says Report

Dar es Salaam, Tanzania.

Dar es Salaam — There are about 99 billionaires who were living in Tanzania last year, placing the country at number nine in a ranking of top African countries based on the super wealthy persons.

The ranking shows Kenya was top in Eastern Africa with 356 billionaires; Ethiopia has 154 billionaires, Tanzania (99), Uganda (67) and Rwanda (30).

The Africa Wealth report for 2019 report published in September by Mauritius based AfrAsia Bank ranked South Africa top with 2,169 billionaires, Egypt (932) and Nigeria (531).

The report shows that these individuals have net assets above $10 million (Sh22 billion) and it shows that Tanzania has only one dollar billionaire.

The country, which had a GDP of $57 billion as of last year, had a total 2,400 High Net Wealth Individuals (HNWI).

The report, however does not name any of the billionaires, neither does it name the assets that some of these High Net Wealth individuals own.

Dar es Salaam is placed 11th in the cities grading with Johannesburg and Cape Town sitting at number one and two.

The report also quotes Dar as the country's hub for High Net Wealth Individuals with 1300 of them residing at the Haven of Peace, which has total wealth of $24 billion.

Dar es Salaam falls behind Nairobi which has total city wealth of $49 billion and is ahead of Uganda's capital Kampala which has $16 billion and Addis Ababa which stands at $14 billion.

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