President Jakaya Kikwete
When the net individual wealth is measured within
the Sadc region, Tanzania, despite having the largest economy, still
trails countries like Botswana, Zimbabwe, Namibia, and Zambia
Dar es Salaam. The individual
net wealth of a Tanzanian is closest to the lowest in Southern African
countries surveyed early this year. The survey ranked Tanzanians the
seventh poorest people, on average, in the survey that featured eight
countries.
The surveyed countries are South Africa, Botswana, Mozambique, Angola, Namibia, Zimbabwe, Zambia, and Tanzania.
Though in terms of Gross Domestic Product
(GDP)—which is the total goods and services produced within a year,
Tanzania seemed to have the largest economy, the average wealth of an
individual in the country is still the lowest, standing at $450
(Sh720,000).
According to a report on Wealth Statistics in
Africa, compiled by consultancy, New World Wealth, Tanzania’s total
wealth in terms of GDP stands at $20.8 billion (about Sh33.28 trillion),
behind South Africa, Angola and Namibia.
These statistics, however, differ with those
produced late last year by the Bank of Tanzania (BoT), which put the
total market value of all officially recognised final goods and services
produced within the country in a year (Gross Domestic Product--GDP) at
Sh44.7 trillion (about $27.937 billion).
Using its database of a sample of over 200
high-net-worth individuals (HNWI) in each covered country, New World
Wealth says South Africa, which is undoubtedly Sadc’s and the
continent’s economic powerhouse rakes in $571.2 billion of wealth while
Angola and Namibia stand at $76.2 billion and $23.1 billion
respectively.
When the net individual wealth is measured within
the Sadc region, Tanzania, despite having the largest economy, still
trails countries like Botswana, Zimbabwe, Namibia, and Zambia.
Assuming that national wealth is fairly
distributed in Botswana, Zambia, and Mozambique, it means every
individual in these countries is, on average, much better off materially
than their Tanzanian counterparts, thanks to their lower populations.
South Africa remains the continent’s superpower
economically, with a net individual wealth of $11,310 followed by
Namibia with $10,500, Botswana $6,580 and Angola $3,890.
“The report ranks major African countries….countries are ranked by total individual wealth,” a statement in the report reads.
According to New World Wealth, an average
Tanzanian was worth a miserable $450 in 2013. With a population of just 2
million people, an average Tswana is worth $6,580 while with Zambia’s
13.3 million population, each Zambian is worth an average of $970.
President Robert Mugabe’s country has a population of 12.6 million – making each Zimbabwean worth an average of $570.
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