BCG told BusinessTech that its data showed that South Africa had 22,700 millionaire households in 2016, placing it 53rd out of 98 countries in its report.
African Business (AB): The current slump in growth across Africa has raised some concerns among investors. Do you share such concerns? If not, what should investors look to for reassurance?
Rich Lesser (RL): The IMF forecasts an average growth rate for Africa of lower than 5% through 2020, largely due to the dip in commodity prices and the economic slowdown in China. Yet, there are a number of countries that are growing above 6% per year in Africa and FDI continues to increase in those regions.