These two African countries are attracting wealthy investors

According to the 2024 Africa Wealth Report, Africa is projected to see a 65% surge in its millionaire population over the next decade.

Mauritius and Namibia are among the top 10 drivers of this wealth explosion, with Mauritius expected to see a 95% growth in its millionaire population, and Namibia 85%, by 2033.

While rapidly emerging as ultra-wealthy hubs, Mauritius and Namibia also offer significant benefits as investment migration pathways for high net-worth individuals (HNWIs) – particularly when it comes to utilising property as an investment opportunity, according to Sovereign Group.

Lance Lawson, business development consultant at Sovereign Group, says that Namibia and Mauritius are not just emerging as wealth hubs due to their own economic growth but also because of their strategic policies that favour foreign investment.

“Their political and economic stability, coupled with their relative affordability and proximity makes these countries highly attractive to South African HNWIs looking to invest in sub-Saharan Africa.”

Luxury real estate is a popular investment choice in these destinations, offering potential income, capital appreciation, and flexibility for families with members in different locations. Neither country imposes capital gains tax and, while Namibia has no estate duty, Mauritius recognises trust law and allows estates to be structured accordingly.

Mauritius: The Gateway to Global Mobility

Mauritius has long been one of Africa’s most business-friendly countries, thanks to its steady economic growth and favourable policies. In addition, it is one of only two African nations, alongside Seychelles, that allows its citizens to access more than 50% of global GDP without a visa.

Mauritius also has multiple residency by-investment opportunities depending on the client’s needs, one of these opportunities includes purchasing a residency through a minimum capital investment of $375,000 which provides the right to live, work, and retire on the island.

Buying property in Mauritius, particularly through a government-approved scheme such as the Property Development, Integrated Resort, or Real Estate Scheme, provides a way to invest in the growing economy and enjoy tax gains, and can be facilitated via companies, trusts, and foundations.

Namibia: A Rising Star

Namibia’s trust law offers unique opportunities for holding assets while providing tax advantages – with the sole proviso being that the investment property is not agricultural land. The Namibian Income Tax Act favours trusts, and the absence of donations, capital gains, and estate taxes makes it an ideal location for international structures.

Foreign investors are protected under the Namibian Foreign Investment Act, which ensures equal treatment for foreign and local investors. Foreign investors with a ‘Certificate of Status Investment’ can repatriate their capital and benefit from a simplified process of obtaining an employment permit.

Additionally, Namibia has formalised export processing zones, which offer competitive pricing advantages to export-oriented manufacturers, and are exempt from corporate income tax, duties and VAT on machinery, equipment and raw materials imported into Namibia for manufacturing purposes.

Namibian residence by investment requires a minimum capital investment of $365,000, and grants the right to live, work, and study there without restriction.

Lawson stresses that spreading wealth across jurisdictions can help manage risk, access a wider range of investments, and mitigate the impact of localised political or economic instability.

The country’s state-owned power utility NamPower on Monday said it had signed a contract with two Chinese firms to start building the country’s largest solar power plant.

The southern African country is a net importer of electricity, relying on neighbouring Zambia and South Africa for power, but the plant will add 100 megawatts to its current total installed power capacity of roughly 500 MW.

The plant will help stabilise future electricity tariff increases, support Namibia’s economic growth and promote environmental sustainability, Kahenge Haulofu, NamPower managing director, said in a statement.

Firms China Jiangxi International Economic and Technical Cooperation and Chint New Energy Development (Zhejiang) will take 18 months to complete the power plant and commercial operations are set to begin in the second quarter of 2026.