The Zambia 2014 Wealth Report

TAZARA Tanzania Zambia Railway Authority
TAZARA Tanzania Zambia Railway Authority

Along with Angola and Ghana, Zambia is the top performing wealth market in Africa. This report provides a comprehensive review of the wealth sector in Zambia, including HNWI trends, wealth management trends and luxury trends in the country.


  • Demographics including age, gender, city and sector breakdowns of local HNWIs.
  • Detailed review of local wealth management industry, including major players.
  • HNWI and UHNWI asset allocations across 10 asset classes.
  • Details on HNWI offshore funds and where they are held.
  • Detailed review of local luxury and collectables industry.
  • Independent market sizing of local HNWIs across five wealth bands.
  • HNWI volume, wealth and allocation trends from 2007 to 2013.
  • HNWI volume, wealth and allocation forecasts to 2017.
  • Detailed review of local prime property sector, including affluent suburbs review.
  • Insights into the drivers of HNWI wealth.

Key Highlights

  • At the end of 2013, there were approximately 900 HNWIs in Zambia, with a combined wealth of US$4.4 billion.
  • The average age of HNWIs in Zambia is 59 years which is above the worldwide average of approximately 56 years. The majority of local HNWIs, 29%, are aged between 61 and 70 years.
  • At the end of 2013, Zambian HNWIs held 31% (US$1.3 billion) of their wealth abroad compared to 45% in 2007.

Key Topics Covered:

1 Introduction

2 Highlights

3 Wealth Sector Fundamentals

4 Findings from HNWI Database

5 Asset Allocation

6 The Wealth Management Sector in Zambia

7 Luxury Sector in Zambia

8 Appendix

Companies Mentioned:

  • Aflife (alliance with Sanlam)
  • Barclays Zambia
  • deVere and Partners Zambia
  • Ecobank (alliance with Nedbank)
  • Equity Capital Resources (ECR)
  • JM Busha Investment Group Zambia
  • Madison Asset Management (MAMCo)
  • Phatisa Zambia
  • Rand Merchant Bank | FICC
  • Stanbic Zambia
  • Standard Chartered

For more information visit

Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Wealth Management

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