Henley & Partners: Africa to Become Next Major Wealth Hub
The African continent is projected to see significant growth in its millionaire population, according to Henley & Partners, driven by sustained economic expansion.
Africa is currently home to 122,500 millionaires with 348 centi-millionaires and 25 billionaires, according to a report by global residence and citizenship planning firm Henley & Partners.
Within the continent, South Africa was the leader in millionaire population at 41,100. This was followed by Egypt (14,800), Morocco (7,500), Nigeria (7,200), and Kenya (6,800). From 2015 to 2025, Mauritius, Africa’s sixth wealthiest country, was the fastest grower with its millionaire population increasing 63 percent to 4,800.
«[This is] a remarkable transformation from the late 20th century, when there were only a few billionaires and many African economies were in long-term decline,» said the annual report which is now in its fourth year.
Next Decade
Over the next decade, Africa’s millionaire population is projected to grow by 65 percent.
«Africa’s story remains one of dualities. Its economic trajectory reveals resilience and promise, bolstered by institutional innovation and growing investor confidence. Yet these exist alongside deep political fractures and governance setbacks,» commented best-selling author and leading political analyst Justice Malala.
«If African leadership can harness the momentum of economic growth while tackling political dysfunction with equal resolve, the continent may yet turn this moment of paradox into one of transformation.»
