
Africa’s Growing Luxury Market: The Role of High-Net-Worth Insurance
With Africa’s millionaire population set to rise by 65% over the next decade, the continent is emerging as a key growth market for global luxury brands.
International Women’s Day (IWD) – celebrated globally on March 8 – has become a globally recognised day celebrating the social, economic, cultural and political achievements of women the world over. This year’s theme, #BalanceforBetter (Better the balance, better the world) marks a call to action for accelerating gender balance. The latest World Economic Forum (WEF) Gender Gap Report revealed that inequality around the world is widening.
It is now estimated that, at the current pace, it will take 108 years globally and 135 years in sub-Saharan Africa before gender parity across all indicators are achieved. Despite an ever-growing body of research that confirms that female leadership leads to stronger companies, the representation of women on the boards of South African corporates remains dismally low.
Christelle Colman, Managing Director of Elite Risk Acceptances, a tailored short-term insurance offering for high-net-worth (HNW) individuals, highlights the importance of finding the right balance. “Many women want it all. They want a career, while at the same time wanting to be a good partner and mother. Women by nature are great multitaskers, but when attempting to juggle so many balls in the air, eventually something will have to give. It’s important to be realistic in order to be successful.”
Colman offers the below life hacks to women in the pursuit of breaking through the corporate gender imbalance while maintaining a healthy work-life balance.
In closing, Colman stresses the importance of being your authentic self. It will give you the opportunity to lead by example at all times. It is true that if you are living your authentic self, you will never have any competition.”

With Africa’s millionaire population set to rise by 65% over the next decade, the continent is emerging as a key growth market for global luxury brands.

Despite women accounting for 42% of the labour force in the world, they only hold about 32% of senior leadership positions, according to the World Economic Forum’s 2024 Global Gender Gap Report.

South Africa’s rare plant species, like the Clivia mirabilis, are facing unprecedented threats, with poaching driving an 80% decline in the population of this Succulent Karoo species within a year.