Family Wealth Management
I-According to many official reports (New World Wealth, AfrAsia, PWC, Mazars, Capgemini), the total amount of wealth held by wealthy people in Africa is about 2300 billion US dollars (US $) , a figure that should grow 34% over the next 10 years to reach the amount of 3100 billion (US $) by the end of 2027. The number of high net worth individuals -HNWI – i.e people with assets to invest exceeding 1 million (US $) is estimated at 145,000 and the global volume of their assets is about 800 billion US $ There were about 7010 multimillionaires living in Africa in 2017 and this number is expected to increase by 36% over the next ten years to reach 198,000 in 2027.
This wealth segment is of direct interest to managers in wealth management companies – one or multi-family – competing for management mandates on behalf of wealthy African people and their families.
II-The objectives of CAFRINTEL S.A. in wealth management are as follows:
– support and advise African high net worth individuals and their families in the management of their assets and assets in a structured, prudent and sustainable manner (investment choice, participation in high-yielding projects guaranteeing the preservation of their wealth in the future); benefits for present and future generations, given that one of the biggest challenges facing affluent African families is succession and inter-generational
–Constitute a multi-service platform (one-stop shop) to provide specialized advice and manage a range of specific needs and requirements (acquisition of property, immigration, placement in education, coordination in the field of philanthropy , trust, foundation, charity, non-profit organization etc …)
– Establish a strong and lasting interaction between wealth management professionals and high net worth individuals
– to inform foreign and African-based stakeholders of the opportunities and specificities of high net worth markets,
III- In the accomplishment of its mission, CAFRINTEL S.A.a made the strategic choice to maintain a double wealth management office in order to maximize for the benefit of its customers, the opportunities offered by the two localities:
-Geneva, Switzerland, a country with a worldwide reputation as a hub for private banking and wealth management, with a large number of wealth management companies and boutiques, trustees, and legal and accounting professionals; and highly respected for the stability of its currency, the Swiss Franc, its financial market and its banks.
-Johannesburg, South Africa, the leading emerging and wealth management market in Africa, with the largest capitalization of African private wealth estimated at $ 649 billion (US $)
and the largest number of high net worth individuals, 39200, and the largest
wealth management companies, based on a sophisticated banking and financial system, and with the largest stock market on the continent with a market capitalization of nearly 980 billion (US $).