Mauritius is the best performing wealth market in Africa, claims report

Mauritius is the richest country in Africa, with total wealth held in the country now amounting to US$43 billion (R567 billion), while per capita wealth (average wealth per person) stands at US$33,000 (R435 138.00) as per a 10-year wealth growth study (2007-2017) by the New World Health and AfrAsia Bank.

Over the past 10 years, total wealth held in Mauritius has risen by 195% (in US$ terms). This also makes Mauritius the world’s third best performing wealth market, next only to Vietnam and China.

According to Business Report, the reasons for wealth growth in Mauritius include:

• A thriving financial services sector
• Well-developed banking system and stock exchange
• Strong Foreign Direct Investment (FDI) inflows
• Secure ownership rights – the most critical component of successful wealth creation globally
• Low taxes – company and personal income tax rates are only 15%, with no inheritance or capital gains tax
• Residents are free to invest overseas with no exchange controls
• Low level of government regulation in the local business sector
• Automatic permanent residency if one buys a US$500,000+ home in the country
• Ease of doing business in the country
• Low jobless rate and low inflation rate
• Developed, free media
• Safety – deemed the safest country in Africa
• Good schools
• Rising commercial and residential property prices
• Access to first class food and produce