Africa saw a rise in the number of millionaires last year.
Ahmed Salem
A new global report reveals that the global wealth held by millionaires reached a record high of US$98.3 trillion in 2025, an increase of 8.7%.
The Capgemini Research Institute’s 2026 Global Wealth Report indicated that the number of Africans with at least $1 million in investable assets, excluding their primary residences, increased by 4.1%.
Morocco emerged as the best performing African country with a rate of 16.8%, recording the fastest growth in the number of high-net-worth individuals on the continent.
Capgemini explained that this figure reflects the expansion of the financial services sector in the Kingdom, rising real estate prices, and the growth of the wealthy segment from its various private sectors.
The report pointed to rising precious metal prices as a key factor in the formation of wealth for high-net-worth individuals across the African continent.
The report concluded that wealth among this group “remains highly concentrated,” with only 1% of them owning 34.8% of capital.
In general, the report explained that this growth in the number of millionaires in the world was driven by the strength of stock markets, the rise in shares of technology companies related to artificial intelligence, and the decline in inflation rates, according to the report.
The number of high-net-worth individuals (HNWIs) in the world increased by about two million people to reach 25.3 million.
Top 10 African countries by number of millionaires
The Africa Wealth Report 2025, issued by Henley & Partners, in collaboration with New World Wealth, showed a remarkable shift in the distribution of millionaires across the African continent during 2025, as the metrics change according to economic developments.
Below is a ranking of countries in terms of the number of millionaires in the thousands during the year 2025:
South Africa comes in first place with 41.1, while Egypt comes in second place with 14.8 thousand people with millionaire wealth.
Morocco ranks third, with 7.5, followed by Nigeria with 7.2, while Kenya records 6.8 thousand with wealth equivalent to one million, followed by Mauritius with 4.8, and Algeria with 2.7.
Ghana comes in eighth place, with 2.6, Namibia with 2.5, and finally Ethiopia comes in tenth place with 2.4.
