Table of Contents
Key Facts
- South Africa is home to 41,100 dollar millionaires, more than a third of the continent's total (Henley & Partners Africa Wealth Report 2026, June 2026)
- Africa's five wealthiest countries, South Africa, Egypt, Morocco, Nigeria and Kenya, together hold 63% of the continent's high-net-worth individuals and 88% of its billionaires (Henley & Partners Africa Wealth Report 2026, June 2026)
- Africa is home to 122,500 dollar millionaires in total, alongside 348 centi-millionaires and 25 billionaires (Henley & Partners Africa Wealth Report 2026, June 2026)
- Mauritius recorded the strongest 10-year millionaire growth of any African country, up 63% (Henley & Partners Africa Wealth Report 2026, June 2026)
- Nigeria's millionaire population fell 47% over the past decade, the steepest decline among Africa's wealthiest countries (Henley & Partners Africa Wealth Report 2026, June 2026)
| Rank | Country | Dollar Millionaires (HNWIs, $1M+) | As of |
|---|---|---|---|
| 1 | South Africa | 41,100 | June 2025 |
| 2 | Egypt | 14,800 | June 2025 |
| 3 | Morocco | 7,500 | June 2025 |
| 4 | Nigeria | 7,200 | June 2025 |
| 5 | Kenya | 6,800 | June 2025 |
| 6 | Mauritius | 4,800 | June 2025 |
| 7 | Algeria | 2,700 | June 2025 |
| 8 | Ghana | 2,700 | June 2025 |
| 9 | Ethiopia | 2,700 | June 2025 |
| 10 | Namibia | 2,300 | June 2025 |
1. South Africa
41,100 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). South Africa has held the top spot on this ranking for as long as Henley & Partners has published it, and it now accounts for roughly a third of every dollar millionaire on the continent. Johannesburg alone houses 11,700 of that total, making it Africa's wealthiest city. The country's deep equity markets, established banking sector and long-standing role as a regional financial hub explain most of that lead, even as its millionaire population declined over the past decade due to rand depreciation and emigration.
2. Egypt
14,800 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). Egypt sits a distant second but comfortably ahead of the rest of the continent, driven by Cairo's role as North Africa's financial and commercial center. Egypt also holds the most billionaires of any African country, a reflection of concentrated family conglomerates in construction, telecom and diversified industry rather than a broad millionaire base alone.
3. Morocco
7,500 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). Morocco posted 40% millionaire growth over the past decade, among the strongest gains in the Big 5, helped by Casablanca's expansion as a financial gateway into West Africa and steady growth in banking, real estate and telecom. Marrakech has also emerged as a fast-growing luxury wealth hub in its own right.
4. Nigeria
7,200 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). Nigeria is Africa's largest economy by GDP, yet its millionaire population has contracted by 47% over the past decade, the sharpest decline of any country in the top 10. Naira depreciation, high inflation and wealth migration to the UK, US and UAE account for most of that drop. Lagos remains the country's dominant wealth center regardless.
5. Kenya
6,800 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). Kenya's wealth base is anchored in Nairobi, East Africa's leading financial and tech hub, and has grown on the back of a diversified economy spanning banking, agriculture and a fast-expanding fintech sector. Henley & Partners projects Kenya as one of several countries likely to see 80%-plus millionaire growth by 2033.
6. Mauritius
4,800 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). Mauritius punches well above its population size, driven by political stability, a favorable tax regime and residence-by-investment programs that actively attract wealthy foreign residents. It recorded the strongest 10-year millionaire growth of any African country at 63%, and its Black River region posted the fastest millionaire growth of any wealth hub on the continent.
7. Algeria
2,700 dollar millionaires (Henley & Partners Africa Wealth Report 2025, June 2025). Algeria's millionaire population fell 23% over the past decade, a decline the report links to the same pressures facing other hydrocarbon-dependent economies like Angola and Nigeria. Algiers remains the country's principal wealth center.
8. Ghana
2,700 dollar millionaires (Henley & Partners Africa Wealth Report 2024, December 2023)*. Ghana's wealth base rests on a comparatively stable democracy and a diversifying economy spanning agriculture, manufacturing and a growing technology sector. Accra anchors most of the country's millionaire population.
9. Ethiopia
2,700 dollar millionaires (Henley & Partners Africa Wealth Report 2024, December 2023)*. Ethiopia's large population and fast-growing economy have made it one of the continent's more closely watched emerging wealth markets, with Addis Ababa positioned as its main wealth hub. Henley & Partners has flagged Ethiopia among the countries likely to see strong HNWI growth over the coming decade.
10. Namibia
2,300 dollar millionaires (Henley & Partners Africa Wealth Report 2024, December 2023)*. Namibia rounds out the top 10 and carries the second-highest wealth per capita on the continent after Mauritius. A residence-by-investment offering launched in recent years is aimed squarely at attracting more high-net-worth residents, and Henley & Partners projects over 85% HNWI growth for the country by 2033.
Which African country has the most wealthy individuals?
South Africa, with 41,100 dollar millionaires as of June 2025, according to Henley & Partners. It has led every edition of the Africa Wealth Report since the ranking began.
How many dollar millionaires are there in Africa in total?
Africa is home to 122,500 dollar millionaires as of June 2025, alongside 348 centi-millionaires (over $100 million) and 25 billionaires, according to Henley & Partners.
Which African country is growing its wealthy population fastest?
Mauritius posted the strongest 10-year growth in its millionaire population among Africa's wealthiest countries, up 63% between 2015 and 2025, according to Henley & Partners. Rwanda (+48%) and Morocco (+40%) followed.
Which African country lost the most millionaires?
Nigeria, whose millionaire population fell by 47% over the past decade, the sharpest decline of any country in Africa's top 10, according to Henley & Partners. Angola (-36%) and Algeria (-23%) also recorded significant declines.
Do these figures include billionaires?
Yes. "Dollar millionaires" or HNWIs in this ranking refers to individuals with liquid investable wealth of $1 million or more, a category that includes centi-millionaires ($100 million-plus) and billionaires within it, rather than counting them separately.
Data Sources
Henley & Partners and New World Wealth, Africa Wealth Report 2025, published August 26, 2025. Figures for South Africa, Egypt, Morocco, Nigeria, Kenya, Mauritius and Algeria are drawn from this edition, reflecting data as of June 2025. https://www.henleyglobal.com/publications/africa-wealth-report-2025
Methodology
This ranking measures each country's number of resident high-net-worth individuals (HNWIs), defined by New World Wealth as people holding liquid investable wealth of $1 million or more, rather than each country's single richest person or the combined net worth of its billionaires. New World Wealth builds these estimates from a combination of exchange filings, real estate records, private wealth databases and local market data; it does not track individual identities. Countries such as Tunisia and the Democratic Republic of Congo are excluded from Henley & Partners' underlying dataset due to insufficient reliable source data.
