A street in Tanzania’s commercial capital Dar es Salaam. The Dar es Salaam Stock Exchange’s all-share index dropped by almost 16 per cent in March as share prices fell sharply among listed companies and foreign participation also declined. PHOTO | BEATRICE MATERU | NMG
East African countries are home to a growing list of wealthy individuals, with Tanzania topping the region in creating dollar millionaires.
The Wealth Report 2020 by real estate consultancy firm Knight Frank shows that Tanzania is the only country in the region to have produced a single individual controlling a net wealth of $1 billion or more, with the number of ultra-high-net-worth individuals (UHNWIs) holding $30 million or more worth of assets including their primary residence rising five per cent to 114 last year, from 109 in 2018.
