African Politics and Policy

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Africa is poor and yet it has the largest number of millionaires

This article in the Italian press tells a interesting, and rather disturbing, story.

African countries have low income per capita, are poor, and yet have the largest number of millionaires in the world.

According to estimates, allegedly prepared by Afrasia Bank of Mauritius, at least 145000 people in Africa have at least 1 million US dollars and their aggregate wealth amounts to 800 billions.

If African government made an effort to promote social justice and redistribute wealth, they would take a giant leap forward to ensuring the development of their countries.


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