Morocco Ranks 5th in Africa with 5,800 Millionaires, New Wealth Report Shows

With 5,800 millionaires, Morocco ranks fifth in the annual ranking of the 10 African countries with the most millionaires established by the investment migration consulting firm Henley & Partners. The latter published its ranking in its Africa Wealth Report, in collaboration with New World Wealth.

South Africa tops the ranking with 37,800 millionaires. It is followed by Egypt (16,100), Nigeria (9,800) and Kenya (7,700). With 4,900 millionaires, the island of Mauritius occupies the 6th place. Then come Algeria (2,800) and Ethiopia (2,700). Ghana (2,600) and Tanzania (2,400) close the podium.

The Africa Wealth report provides a comprehensive review of private wealth in Africa, including trends related to high-net-worth individuals, luxury and wealth management, as well as expert opinions on investing in Africa, the investment migration sector and economic mobility on the continent, it is specified.

Number of millionaires in African countries:

• South Africa: 37,800 millionaires
• Egypt: 16,100 millionaires
• Nigeria: 9,800 millionaires
• Kenya: 7,700 millionaires
• Morocco: 5,800 millionaires
• Mauritius: 4,900 millionaires
• Algeria: 2,800 millionaires
• Ethiopia: 2,700 millionaires
• Ghana: 2,600 millionaires
• Tanzania: 2,400 millionaires