Africa’s millionaire population is set to surge by 65% over the next decade, according to the Africa Wealth Report 2025. The continent currently hosts 25 billionaires, 348 centi-millionaires, and 122,500 millionaires, with Sub-Saharan Africa’s economy forecast to grow 3.7% in 2025.
This growth outpaces Europe at 0.7% and the United States at 1.4%, with projections reaching 4.1% in 2026. Now in its fourth year, the report by Henley & Partners and New World Wealth highlights Africa’s expanding private wealth markets.
Dominic Volek, Henley & Partners’ Group Head of Private Clients, says African investors now seek global mobility and broader capital diversification. International investors, he adds, increasingly view Africa as a destination for long-term, stable capital deployment despite global economic headwinds.
South Africa leads the continent, accounting for 34% of Africa’s millionaires with 41,100, nearly equal to the next five wealthiest countries combined. Other key wealth markets include Egypt with 14,800 millionaires, Morocco 7,500, Nigeria 7,200, and Kenya 6,800, holding 63% of African millionaires.
Mauritius has seen the fastest growth in high-net-worth individuals at 63% over the past decade, followed by Rwanda at 48% and Morocco 40%. In contrast, Nigeria, Angola, and Algeria experienced declines, with millionaire populations contracting sharply by 47%, 36%, and 23% respectively.
Johannesburg remains Africa’s wealthiest city with 11,700 millionaires, while Cape Town leads in centi-millionaires and commands Africa’s priciest real estate market. Cairo hosts the highest concentration of African billionaires, with five residents, while Nairobi contains nearly half of Kenya’s private wealth.
Mobility challenges are rising, as U.S. and European visa restrictions increasingly limit African investors’ access to global markets and opportunities.
In response, affluent Africans are pursuing alternative residencies and citizenships, expanding business reach, safeguarding wealth, and securing international educational opportunities. Henley & Partners reports surging applications and enquiries, with South Africa and Egypt now ranking among the top ten global source markets.
Grace Arthur of Henley & Partners Ghana emphasises that investors are not leaving Africa but extending its influence and unlocking capital worldwide.
