Where Africa’s Millionaire Population Resides
Below, we show the number of millionaires in Africa. Countries such as Tunisia and DRC are not included due to insufficient data.
Country Number of Millionaires
(USD $1M+) Number of Centimillionaires
(USD $100M+) Millionaire Growth
2015-2025
🇿🇦 South Africa 41.1K 112 -6%
🇪🇬 Egypt 14.8K 49 -15%
🇲🇦 Morocco 7.5K 35 40%
🇳🇬 Nigeria 7.2K 20 -47%
🇰🇪 Kenya 6.8K 16 14%
🇲🇺 Mauritius 4.8K 14 63%
🇩🇿 Algeria 2.7K 10 -23%
🇬🇭 Ghana 2.6K 8 20%
🇳🇦 Namibia 2.5K 4 28%
🇪🇹 Ethiopia 2.4K 7 30%
🇦🇴 Angola 2.3K 6 -36%
🇹🇿 Tanzania 2.1K 5 17%
🇨�? Cote d’Ivoire 2.0K 4 25%
🇧🇼 Botswana 1.7K 4 3%
🇺🇬 Uganda 1.6K 5 33%
🇷🇼 Rwanda 1.0K 3 48%
🇿🇲 Zambia 1.0K 3 5%
🇲🇿 Mozambique 800 2 -11%
🇸🇨 Seychelles 500 6 35%
Total 122.5K 348 -5%
Taking the lead is South Africa, which houses 41,100 millionaires and 112 centimillionaires.
While millionaire growth across the country has shrunk 6% over the last decade, key hubs including the Whale Coast have seen a 50% surge. In particular, this hotspot has become a destination for holiday homes and weekend getaways.
Egypt ranks in second, with 14,800 millionaires, although its millionaire population has declined 15% since 2015.
By contrast, Morocco has one of the fastest-growing millionaire populations, rising 40% in the last 10 years. Further driving this surge are a thriving export industry, along with $40 billion in greenfield manufacturing investment in five years.
Like Morocco, Mauritius and Rwanda have seen a surge in millionaire residents, up 63% and 48%, respectively over the decade.