Lux Wealth

Everything from Economy, Finance and Real Estate

MEET THE RICHEST MAN IN AFRICA – ALIKO DANGOTE

There’s only one person in all of Africa who makes the list of the 50 richest people on earth: Nigerian businessman Aliko Dangote. When our ranking was released, Dangote’s net worth stood at $14.3 billion, equal to 2.5% of Nigeria’s GDP. The majority of his wealth stems from…

THE RISE OF ALGERIA’S SHOPPING MALLS

More than 250km east of the Algerian capital in the city of Sétif, private holding company Prombati opened the Maghreb region’s second largest mall recently. Park Mall, a four storey shopping and leisure complex, has a total of 45,000 square…

TOP 7 OUTRAGEOUS AMENITIES IN WORLD’S MOST LUXURIOUS CONDOS

In the current luxury real estate market where pet spas and rooftop pools are considered passé, developers are going all out to woo potential buyers with outrageous amenities. Which of these over-the-top features are fads and which are here to stay?…

NIGERIA’S JET SET: HOW THE SUPER RICH TRAVEL

Nigeria’s rich elite are increasingly buying private jets to avoid flying on commercial airlines. “There’s an average of nine aircrafts fixed here in the hangar,” says Peter de Waal of ExecuJet Aviation Nigeria, looking across at a line of sleek…

INSIDE KENYA’S MOST EXPENSIVE AND LUXURIOUS HOUSE

A new wave of property development is pushing up the prices of homes to new highs in Nairobi. Let us take you on a tour outside and inside one of Kenya’s most expensive and luxurious house worth 600 million Kenyan Shillings.…

HOW WELL DO YOU KNOW YOUR LUXURY REAL ESTATE?

When you think of owning the ultimate piece of luxury real estate, three kinds of homes come into mind – a mansion, a penthouse or a beach house. But which is best? All sound enticing and serve their purpose as…

NAIROBI LUXURY HOME PRICES SECOND FASTEST GROWING IN AFRICA

IN SUMMARY Kenyans working abroad have also been identified as key players in the country’s real estate sector. Those in the diaspora send over Sh10 billion back into the country each month, some of it for investment. Kenya is also…

DE BEERS SIGNS ‘LONGEST EVER’ ROUGH DIAMOND AGREEMENT WITH NAMIBIA

Anglo American’s subsidiary The De Beers Group of Companies and the government of Namibia have announced the signing of a new 10-year sales agreement, the longest ever between the two, for the sorting, valuing and sales of Namdeb Holdings diamonds. Namibia…

AFRICA TODAY IS LIKE CHINA IN THE 1980s

In the 1980s, China was far from the economic heavyweight it is today, but it was already in the midst of the economic reforms that would help make it the world’s largest economy by some measures. Today, plenty of retailers, especially…

LUXURY BRANDS TURN TO AFRICA

Despite high inequality, South Africa has long been considered a bastion of wealth in Africa. Luxury brands see it as an established market for high-end goods. As wealth outside of South Africa grows, fashion houses and other luxury producers are…