Key Takeaways
- South Africa is the richest country on the continent, with 41,100 millionaires, 112 centi-millionaires ($100 million+ USD), and eight billionaires.
- The island nation of Mauritius has seen a 63% growth in its millionaire population over the past decade—the fastest overall.
- Similarly, Morocco has seen a significant jump of 40% to reach 7,500 millionaires in 2025, supported by rising foreign investment and export activity.
With a net worth of $28 billion, Aliko Dengote is the richest person in Africa.
Dengote is one of just eight billionaires on the continent, building his fortune through commodities such as cement and sugar. Beyond this small billionaire class, Africa is also home to an estimated 122,500 millionaires, a population bolstered by rising private consumption and growing foreign investment.
This map shows Africa’s millionaire population by country in 2025, based on data from Henley & Partners.
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.
Credit: Visual Capitalist
