Tanzania has the only dollar billionaire in East Africa

According to the latest study by research company New World Wealth and Henley & Partners, which assists high-net-worth people in acquiring residency or citizenship through investment, Tanzania is home to East Africa's lone dollar billionaire.

The article, however, did not name the billionaire in question, since other people became millionaires.

According to the Africa Wealth Report 2022, Tanzania has 2400 people with a net worth of more than $1 million (Sh2.3billion).

More over half of the dollar millionaires (1300) live in Dar es Salaam, the commercial capital, which was rated 12th richest, with a total private citizen worth of $24 billion (Sh55 trillion).

The study's estimate of Tanzania's dollar millionaires is much greater than estimates in prior surveys.

The Africa Wealth Report 2022 was compiled using intelligence obtained by New World Wealth as well as Henley & Partners' database of high-net-worth individuals, namely those with the titles of director, CEO, founder, and partner.

According to Henley's inaugural wealth report, South Africa has the most dollar millionaires (39,300), followed by Egypt (16,900) and Nigeria (10,000).

Tanzania was once again rated seventh in terms of persons having a net worth of $10 million (Sh23 billion) or more. Tanzania has 80 of these people, trailing Ghana (120), Morocco (220), Kenya (340), Nigeria (510), Egypt (880), and South Africa (2,080).

Tanzania ranks sixth in the world in terms of the number of people with a net worth of at least $100 million (Sh230 billion), commonly known as centi-millionaires.

Kenya (15), Morocco (22), Nigeria (28), Egypt (57), and South Africa each have eight such persons (94).