dynamic economic transformation, fueled by a flourishing class of millionaires. The IMF’s latest report on Sub-Saharan Africa’s economies shows a gradual improvement after a rough four years. Economic growth in the region is expected to pick up from 3.4 percent in 2023 to 3.8 percent in 2024, with nearly two-thirds of countries anticipating an acceleration in growth. The Knight Frank Wealth Report predicts an 11% growth in Africa’s UHNWI population by 2025.
Data from the African Development Bank paints an optimistic picture for the continent. The region will account for eleven of the world’s 20 fastest-growing economies in 2024, which the World Bank forecasts to be the world’s fastest-growing region economically by 2025. This growth is driven by several factors. A young and ambitious population, with a median age of 18 according to the World Bank, provides a large and growing workforce.
This is where companies like Imperial Citizenship see an opportunity. Their RBI programs offer solutions such as citizenship in countries offering visa-free travel, empowering Nigerian entrepreneurs and investors to operate on a global scale. This not only benefits the HNWIs themselves, but also creates a win-win situation for Nigeria.