• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Wednesday, August 20, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home Business

Despite Nigeria’s Vast Substantial Oil Reserves, South Africa boasts a Higher Number of Affluent Individuals

Elanza by Elanza
April 6, 2024
in Business
0
Despite Nigeria’s Vast Substantial Oil Reserves, South Africa boasts a Higher Number of Affluent Individuals
0
SHARES
3
VIEWS
FacebookTwitterWhatsappEmailTelegram

Comparing the wealth distribution between South Africa and Nigeria reveals intriguing insights into economic disparities across Africa. Despite Nigeria’s vast population and substantial oil reserves, South Africa boasts a higher number of affluent individuals.

This discrepancy underscores not only the economic disparities within Africa but also the complex factors influencing wealth accumulation and distribution on the continent.

South Africa’s economic landscape, characterized by a diverse range of industries and a relatively stable political environment, has likely contributed to the higher concentration of wealthy individuals compared to Nigeria.

RelatedPosts

Naira Appreciates to N1,550/$ in Parallel Market

NGX Rebounds With N60bn Gain, Led By AIICO, UPDC

Huawei Demonstrates Commitment To Developing Nigerian Workforce Through Job Fair

Moreover, South Africa’s well-established financial infrastructure and access to international markets provide opportunities for wealth creation and accumulation.

On the other hand, Nigeria, despite its oil wealth, grapples with challenges such as corruption, infrastructural deficiencies, and political instability, which can hinder the growth of a robust middle and upper class.

Addressing the wealth disparity between South Africa and Nigeria requires comprehensive strategies that prioritize economic development, infrastructure investment, and institutional reforms across the continent.

By fostering an environment conducive to entrepreneurship, innovation, and inclusive growth, African nations can work towards narrowing the wealth gap and promoting shared prosperity for all citizens.

2024 AFRICA’S RICHEST PEOPLE

1 Aliko Dangote: $13.4b
2 Johann Rupert & family: $12.2b
3 Nicky Oppenheimer & family: $9.5b
4 Nassef Sawiris: $8.8b
5 Nathan Kirsh: $7.2b
6 Mike Adenuga: $6.7b
7 Abdulsamad Rabiu: $5.2b
8 Naguib Sawiris: $3.8b
9 Mohamed Mansour: $3.3b
10 Patrice Motsepe: $2.7b
11 Koos Bekker: $2.6b
12 Issad Rebrab & family: $2.5b
13 Mohammed Dewji: $1.8b
14 Strive Masiyiwa: $1.8b
15 Aziz Akhannouch & family: $1.7b
16 Othman Benjelloun & family: $1.4b
17 Femi Otedola: $1.4b
18 Youssef Mansour: $1.3b
19 Yasseen Mansour: $1.2b
20 Michiel Le Roux: $1.2b
21 Christoffel Wiese: $1.2b

ALSO READ:  CAC Moves to Strike Off Non-compliant Companies from Register, Gives 90-day Ultimatum

South Africa: 6
Egypt: 5
Nigeria: 4
Tanzania: 2
Morocco: 2
Algeria: 1
Zimbabwe: 1

#Statisense
(Forbes)

Tags: South Africa
Elanza

Elanza

Related Posts

Naira Appreciates to N1,550/$ in Parallel Market

Naira Appreciates to N1,550/$ in Parallel Market

by Nathaniel Irobi
August 19, 2025
0

The Naira yesterday appreciated to N1,550 per dollar in the parallel market from N1,560 per dollar last weekend. But the...

Stock Market Rebounds, Appreciates by N404.58bn on Demand for Dangote Cement

NGX Rebounds With N60bn Gain, Led By AIICO, UPDC

by Nathaniel Irobi
August 19, 2025
0

The Nigerian stock market bounced back on Monday, wiping out three straight sessions of losses as investors regained N60 billion...

Huawei Demonstrates Commitment To Developing Nigerian Workforce Through Job Fair

Huawei Demonstrates Commitment To Developing Nigerian Workforce Through Job Fair

by Ojimaojo Abubakar
August 15, 2025
0

Huawei has reaffirmed its commitment to developing Nigeria’s workforce, promising to expand training, competitions and job opportunities for young professionals...

Recommended

330 Students Abducted, 52 Schools Shut in Five Years in Katsina LGAs – Report

330 Students Abducted, 52 Schools Shut in Five Years in Katsina LGAs – Report

16 hours ago
Bye-election: Okpebholo Faults BVAS Machine Malfunction in Edo

Bye-election: Okpebholo Faults BVAS Machine Malfunction in Edo

4 days ago

Popular News

  • Cross River State Triumphs at Prestigious All-women Interstate Debate

    Cross River State Triumphs at Prestigious All-women Interstate Debate

    0 shares
    Share 0 Tweet 0
  • Sokoto GBV RT Demands Immediate Justice For Brutalized 14 Year Old Bashariya 

    0 shares
    Share 0 Tweet 0
  • BRGIE Acting Prime Minister Provides Explosive Testimony to U.S. Congress Calling For Release of Mazi Nnamdi Kanu & Simon Ekpa

    0 shares
    Share 0 Tweet 0
  • Haske: The Rise Of A New Movement

    0 shares
    Share 0 Tweet 0
  • Rahila Bags Presidential’s NYSC Honours Award For Community Service

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (763)
  • Education (224)
  • Entertainment (315)
  • Health (201)
  • National (2,319)
  • News (8,604)
  • Opinion (314)
  • Politics (1,703)
  • Science (15)
  • Security (409)
  • Sports (471)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform