Africa’s Rich Set to Get Wealthier From Technology Boost

Increased use of technology to improve the efficiency of mature African businesses is expected to boost the number of high net worth individuals, as the second generation of family owned businesses takes over management from founders.

The first generation emerged following the oil boom and liberalization of economies, with most investing in heavy industries, trading and commercial farming, according to Faizal Bhana, the director for the Middle East, Africa and India at state-funded Jersey Finance.

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