The Growth of Africa's Millionaire-class
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According to the latest Africa 2015 Wealth Report Mozambique is expected to see the highest growth in high net worth individuals (HNWIs) between 2014 and 2024.
The report was published by New World Wealth, a South African based company that provides information on the global wealth sector, particularly in high growth markets.
The report defines HNWIs as individuals worth more than $1 million in terms of their net assets; Mozambique’s number of these individuals is expected to surge from 1,000 in 2014 to 2,200 by 2024, which is an increase of 120 percent.
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The Southeast African country has the lowest numbers of HNWIs but will move up one place in the ranking, overtaking Zambia. This is in contrast to South Africa which had 46,800 in 2014 and is expected to grow by 40 percent to 65,700 by 2024.
The IMF expects Mozambique’s economy to expand by an average annual rate of 7.6 percent between 2014 and 2019 which will surely be a major contributor to the growth of its wealthiest.
Read our Top 10 Article on Africa's Wealthiest Business people of 2015 in the July Issue of ABR.
The report also outlines that the overall the number of HNWIs in Africa will grow by 45 percent over the coming decade, reaching about 234,000 by 2024. To put this into context, the United Kingdom currently has nearly 350,000 millionaires according to reporting from This Is Money.
SAS: Improving the British Army’s decision making with data
SAS’ long-standing relationship with the British Army is built on mutual respect and grounded by a reciprocal understanding of each others’ capabilities, strengths, and weaknesses. Roderick Crawford, VP and Country GM for SAS UKI, states that the company’s thorough grasp of the defence sector makes it an ideal partner for the Army as it undergoes its own digital transformation.
“Major General Jon Cole told us that he wanted to enable better, faster decision-making in order to improve operational efficiency,” he explains. Therefore, SAS’ task was to help the British Army realise the “significant potential” of data through the use of artificial intelligence (AI) to automate tasks and conduct complex analysis.
In 2020, the Army invested in the SAS ‘Viya platform’ as an overture to embarking on its new digital roadmap. The goal was to deliver a new way of working that enabled agility, flexibility, faster deployment, and reduced risk and cost: “SAS put a commercial framework in place to free the Army of limits in terms of their access to our tech capabilities.”
Doing so was important not just in terms of facilitating faster innovation but also, in Crawford’s words, to “connect the unconnected.” This means structuring data in a simultaneously secure and accessible manner for all skill levels, from analysts to data engineers and military commanders. The result is that analytics and decision-making that drives innovation and increases collaboration.
Crawford also highlights the importance of the SAS platform’s open nature, “General Cole was very clear that the Army wanted a way to work with other data and analytics tools such as Python. We allow them to do that, but with improved governance and faster delivery capabilities.”
SAS realises that collaboration is at the heart of a strong partnership and has been closely developing a long-term roadmap with the Army. “Although we're separate organisations, we come together to work effectively as one,” says Crawford. “Companies usually find it very easy to partner with SAS because we're a very open, honest, and people-based business by nature.”
With digital technology itself changing with great regularity, it’s safe to imagine that SAS’ own relationship with the Army will become even closer and more diverse. As SAS assists it in enhancing its operational readiness and providing its commanders with a secure view of key data points, Crawford is certain that the company will have a continually valuable role to play.
“As warfare moves into what we might call ‘the grey-zone’, the need to understand, decide, and act on complex information streams and diverse sources has never been more important. AI, computer vision and natural language processing are technologies that we hope to exploit over the next three to five years in conjunction with the Army.”
Fundamentally, data analytics is a tool for gaining valuable insights and expediting the delivery of outcomes. The goal of the two parties’ partnership, concludes Crawford, will be to reach the point where both access to data and decision-making can be performed qualitatively and in real-time.
“SAS is absolutely delighted to have this relationship with the British Army, and across the MOD. It’s a great privilege to be part of the armed forces covenant.”