Top 10 African countries with most millionaires (dollars): 2025 Wealth Rankings

The distribution of private wealth across Africa reflects an evolving story of economic transformation and resilience. Strengthened financial systems, expanding enterprise sectors, and increasingly sophisticated markets continue to drive the growth of affluent populations across the continent.

Drawing from Henley & Partners’ Africa Wealth Report 2025, developed with New World Wealth, this overview highlights how prosperity is geographically concentrated and how Africa’s wealthiest citizens are reshaping the continent’s economic landscape.

This assessment focuses on two main wealth groups: individuals with investable assets of at least one million US dollars (millionaires) and those with holdings above one hundred million US dollars (centi-millionaires). These categories reveal both the wider patterns of financial progress and the rise of an influential class shaping investment and policy trends.

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Beyond the statistics, they reflect the economic forces driving Africa’s evolution, ranging from extractive industries and real estate to financial services, manufacturing, and technology.

The nations leading Africa’s wealth rankings share certain core attributes that go beyond the size of their economies. Stable governance, effective financial frameworks, and forward-looking business policies are strong enablers of wealth creation and retention.

In contrast, countries experiencing monetary instability, limited market depth, or governance challenges often see capital flight and the migration of wealthy citizens abroad.

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Southern and Northern Africa continue to anchor the continent’s wealth profile, supported by well-developed financial systems and diverse economic structures. South Africa remains the primary hub of private wealth, benefiting from mature markets, modern infrastructure, and a strong private sector.

Egypt, Morocco, and Mauritius have also reinforced their positions through consistent policy reforms, foreign investment attraction, and the expansion of service-based industries. Each of these countries demonstrates how economic diversification and strategic management of resources can stimulate lasting prosperity.

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In East and West Africa, countries such as Kenya, Ghana, and Nigeria are driving innovation-led growth. These markets are nurturing a new generation of entrepreneurs through rapidly developing technology sectors, urban growth, and a youthful population. Increasingly, their millionaires emerge from dynamic sectors such as fintech, agriculture, and renewable energy, signalling a gradual shift towards more sustainable and diversified wealth sources.

The 2025 analysis also draws attention to changing patterns of wealth migration. Smaller or previously overlooked economies are now attracting high-net-worth individuals due to political stability, appealing tax systems, and improved living conditions.

Mauritius serves as a clear example, having evolved into a regional financial centre through deliberate policy design and international investor confidence. Likewise, North African economies continue to leverage their proximity to Europe and Asia for trade, while East Africa benefits from infrastructure investment and regional collaboration.

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Although some countries have seen temporary declines in millionaire numbers, the long-term outlook for the continent remains positive. Africa’s young population, rapid digital transformation, and abundant natural resources create strong conditions for ongoing wealth expansion. Yet, challenges such as inequality, weak institutions, and uneven development continue to influence how wealth is distributed across regions.

The Africa Wealth Report 2025 goes beyond numerical rankings to tell a story of ambition, adaptability, and transformation across the continent.

The following table presents the top ten African nations with the largest populations of millionaires and centi-millionaires, highlighting where private wealth is most concentrated and where the next frontiers of prosperity are emerging.