UBS AG, the world’s biggest wealth manager, is targeting millionaire clients in oil-rich Nigeria and Angola as Swiss rival Credit Suisse Group AG withdraws from some African markets.

“The amount of people on the continent that fall within our wealth-management bracket is increasing every day,” Sean Bennett, the Johannesburg-based managing director of UBS in sub- Saharan Africa, said in a Nov. 20 interview. “There’s still tons of opportunities still relatively untapped.”

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