According to The Africa Wealth Report 2024 published by Henley & Partners and New World Wealth, by 2023, 56% of African millionaires and more than 90% of billionaires will reside in five countries: South Africa, Egypt, Nigeria, Kenya, and Morocco. there is. In that year, there were 135,200 people on the continent with wealth worth more than $1 million, of whom 342 were millionaires and 21 were billionaires. report.
As the following chart shows, South Africa had the highest number of so-called high net worth individuals (HNWIs), with 37,400 millionaires, 102 million millionaires and 5 billionaires. Egypt followed with 15,600 millionaires, 52 millionaires, and 7 billionaires, while Nigeria ranked third on the continent with 8,226 HNWIs. The top 10 included Kenya (7,216 HNWIs), Morocco (6,836), Mauritius (5,115), Algeria (2,809), Ghana (2,706), Ethiopia (2,704) and Namibia (2,303).
here is full articleWritten by Anna Fleck, via anecdote.
