Economy

5,553 Tanzanians Own More Than USD 1 Million

March 16, 2020

1 minute read

Leading real estate consultancy firm Knight Frank recently published its Wealth Report 2020, indicating that in 2019 there were 5,553 High-Net-Worth-Individuals (HNWI) in Tanzania with a total wealth of more than USD 1 million.

According to the same report, the number of Ultra-High-Net-Worth-Individuals (UHNWI) in Tanzania with a total wealth of more than USD 30 million reached 114.

This represents an increase of 8% and 5% respectively compared to 2018, and 85% and 87% compared to 2014.

There continue to be just one billionaire in Tanzania.

Looking at the future, Knight Frank forecasts that by 2024 the number of HNWI and UHNWI in the country will increase by +54%.

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