Africa’s Millionaire Map: Morocco Emerges as Wealth Hub, Trailing South Africa and Egypt

With 7,500 millionaires, Morocco is the third country with the most millionaires in Africa. This is according to the 2025 Africa Wealth Report published by the international wealth advisory firm Henley & Partners in collaboration with New World Wealth. The Kingdom is far behind South Africa, which tops the ranking with 41,100 millionaires. The Rainbow Nation now represents "34% of Africa’s millionaires, roughly as much as the five other richest countries combined," the Africa Wealth Report states. Egypt ranks second with 14,800 resident millionaires.

Nigeria (7,200) and Kenya (6,800) complete the top 5. Now the 6th richest country in Africa, Mauritius recorded the strongest growth in High Net Worth Individuals (HNWIs) on the continent over the past decade (+63%). Rwanda (+48%) and Morocco (+40%) also saw strong growth. As for Nigeria’s millionaire population, it has contracted sharply (-47%), as have Angola (-36%) and Algeria (-23%).

According to the Africa Wealth Report, Africa has 122,500 millionaires, 348 centi-millionaires, 25 billionaires, and will see more and more large fortunes in the years to come. Africa’s millionaire population is expected to grow by 65% over the next decade, it is stated.