Tanzania has been ranked seventh in terms of dollar millionaires according to a report by a research firm, New World Wealth and Henley & Partners, which helps high-net-worth individuals to acquire resident citizenship through investment.
According to the African wealth report, 2022 indicates that Tanzania has 2,400 individuals with a net worth of over $1million (Sh. 2.3 billion).
More than half of the dollar millionaires (13,000) reside in the commercial capital Dar es Salaam as the city was ranked 12 richest, with a total private citizens’ wealth of 24 billion ($55 trillion).
The population of Tanzania’s million dollars is significantly higher than estimated in other reports, including the difficulty of tracking the wealthy in Africa.
Tanzania was ranked 7th again in terms of those with a net worth of $10million (Sh23 billion) or more. Tanzania has 80 such individuals, behind Ghana (120), Morocco (220), Kenya (320), Nigeria (510), Egypt (880) and South Africa (2,080).
In the same report, Tanzania is ranked 6th in terms of the population of individuals with a net worth of at least $100 million (Sh. 230 billion), also as centi-millionaires.