The recent Africa Wealth Report 2023 released by Henley & Partners describes Mauritius as “A millionaire magnet”, a top investment destination in Africa and a hub for business. The report highlights that Mauritius held a total investable wealth of USD 48 billion and the highest average wealth of USD 37,500 per person as at December 2022, making it the wealthiest country in Africa and an attractive destination for high-net-worth individuals.

Over the last 10 years, Mauritius has experienced an impressive 69% increase in USD Millionaires, representing the highest growth rate of millionaires in Africa. As of December 2022, Mauritius had 4,900 individuals with a net worth of more than USD 1 Million and 10 individuals with a net worth of more than USD 100 Million. While Mauritius does not yet have any USD Billionaires, the country’s economic growth and favorable investment climate make it a promising destination for future investment opportunities.

In addition to its growing wealth, Mauritius also boasts the strongest passport in Africa, with visa-free access to 146 countries worldwide. This opens up significant business and investment opportunities for individuals and companies seeking to expand their reach beyond Africa.

At Axis Fiduciary Ltd, we are proud to be based in Mauritius, a country that has become a hub for high-net-worth individuals and businesses seeking to grow their wealth in a stable and favorable investment climate. We look forward to continuing to provide our clients with world-class fiduciary and financial services in this prosperous and dynamic economy.

Read the full report HERE.