Africa, a population of 1.2 billion people has just 138,000 millionaires (USD 1 million). There’s only 328 centi-millionaires in Africa and 23 Billionaires living in Africa. There’s also a valid theory that the biggest percentage of Africa’s millionaires are not documented. Thus, the number could already be a million, but only 138,000 have formalized their wealth with proper valuation.
Despite this valid theory, at what point does Africa formally hit the one million Millionaires mark? How does Africa produce wealth much faster and thus uplift many into the millionaires’ league? Africa leads top on the least of the most entrepreneurial continents, yet most of these entrepreneurs go bust within a year. In Uganda, the average life expectancy of a business is still less than 300 days, roughly a year.
Africa Nxt Gen is set out on producing new models for accelerating Africa’s race towards the one million Millionaires mark. But at what point will Africa get to hit this number? 2050? 2100? That’s the year when Africa will register its transformation. How do we build sustainable businesses? How do we build and scale those businesses? How do we transform our organizations?
When Will Africa Create One Million Millionaires?
Africa, a population of 1.2 billion people has just 138,000 millionaires (USD 1 million). There’s only 328 centi-millionaires in Africa and 23 Billionaires living in Africa. There’s also a valid theory that the biggest percentage of Africa’s millionaires are not documented. Thus, the number could already be a million, but only 138,000 have formalized their wealth with proper valuation.
Despite this valid theory, at what point does Africa formally hit the one million Millionaires mark? How does Africa produce wealth much faster and thus uplift many into the millionaires’ league? Africa leads top on the least of the most entrepreneurial continents, yet most of these entrepreneurs go bust within a year. In Uganda, the average life expectancy of a business is still less than 300 days, roughly a year.
Africa Nxt Gen is set out on producing new models for accelerating Africa’s race towards the one million Millionaires mark. But at what point will Africa get to hit this number? 2050? 2100? That’s the year when Africa will register its transformation. How do we build sustainable businesses? How do we build and scale those businesses? How do we transform our organizations?
When will Africa create one million Millionaires?
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