Inside the October/November issue of Forbes Africa Magazine

Forbes Africa recently released its October/November issue, delving into the world of wealth management on the continent. The Managing Editor of Forbes Africa, Renuka Methil, shed light on the magazine's focus on the growing sector of wealth management and the professionals who cater to high network individuals and billionaires in Africa. The issue marks the 11th anniversary of Forbes Africa, celebrating over a decade of showcasing the continent's financial elite. Methil emphasized the increasing interest in investing in Africa, with wealth on the continent projected to grow by 38%. Private banks are offering new investment opportunities, and wealth management services are on the rise, providing holistic advice to affluent individuals. Forbes, known for featuring billionaires and millionaires, now highlights the professionals behind the scenes who offer valuable insights on investment opportunities, innovations, and wise decisions for clients. The cover story spotlights wealth advisors and financial analysts who guide high net worth individuals on where to focus their investments and make strategic decisions. The magazine's publication reflects Africa's shifting landscape towards generational wealth and the demand for a more comprehensive approach to financial advice for investors and billionaires. In an interview with CNBC Africa, Methil discussed the common themes and trends uncovered through conversations with wealth managers and advisors. A key focus was on ESG (Environmental, Social, and Governance) factors, as companies and individual investors increasingly prioritize sustainability and ethical investments. The entry of young millionaires into the wealth management sector and their interest in alternative assets like cryptocurrencies and NFTs also emerged as a notable trend. Moreover, the magazine highlighted the growing presence of boutique wealth management firms and a demographic shift with more young professionals entering the industry. The need for a holistic approach to financial advice was underscored, emphasizing the importance of tailored strategies for clients in Africa's evolving investment landscape. Forbes Africa's commitment to diversity was evident in its coverage, showcasing a diverse array of professionals, including women breaking barriers in the male-dominated industry. While the cover featured one woman, the magazine profiled several female leaders in the wealth management sector, emphasizing their ethical perspectives and contribution to financial conversations beyond monetary gains. Methil highlighted the need for greater diversity in the industry and acknowledged the progress being made in shattering traditional norms. The issue also featured an interview with renowned philanthropist Melinda Gates, emphasizing the magazine's focus on impactful work aligned with the Sustainable Development Goals (SDGs) and empowerment of female entrepreneurs in Africa. Despite the magazine receiving some criticism for its representation of soccer stars, Methil stood by the publication's decisions and expressed pride in the diverse and influential individuals featured in the issue. Forbes Africa's October/November edition serves as a comprehensive guide to the dynamic world of wealth management in Africa, showcasing the professionals, trends, and opportunities shaping the continent's financial future.