Africans to surge up the ranks of ultra-high-net-worth individuals over the next decade

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The number of UHNWIs - those with at least US $ 30million in assets - in Africa is expected to increase by a staggering 59% over the next 10 years, stronger than the 34% projected global growth.

We are likely to see the biggest density of UHNWIs in key African countries including Nigeria, South Africa and Ivory Coast which boast some of the fastest global growth rates for UHNWIs.

Global prime property acquisitions remain an aspirational target for many African UHNWIs meaning that prime UK and USA will increasingly see interest from African buyers who have the financial means to acquire and hold multi-million pound/dollar properties. In Africa's most expensive real estate destination - Cape Town, South Africa - this is already evident with many African UHNWIs buying the very best properties which has seen the Uber prime market motor forward.

What is quite clear is that there is significant buying power for prime global properties coming out of Africa and that Africa's prime real estate destination, Cape Town, remains an aspirational purchase location for many of the world's UHNWIs from UK, Europe, USA. Middle East, Asia and throughout Africa.