Where do you find high net wealth in Africa?

 [[{“value”:”56 percent of Africa’s millionaires and over 90 percent of its billionaires lived in just five countries in 2023 – South Africa, Egypt, Nigeria, Kenya and Morocco, according to The Africa Wealth Report 2024 published by Henley & Partners and New World Wealth. There were 135,200 people who owned wealth of 1 million U.S. dollars
The post Where do you find high net wealth in Africa? appeared first on Marginal REVOLUTION.”}]] 

56 percent of Africa’s millionaires and over 90 percent of its billionaires lived in just five countries in 2023 – South Africa, Egypt, Nigeria, Kenya and Morocco, according to The Africa Wealth Report 2024 published by Henley & Partners and New World Wealth. There were 135,200 people who owned wealth of 1 million U.S. dollars or more living in the continent that year, as well as 342 centi-millionaires and 21 billionaires, Statista reports.

As the following chart shows, South Africa had the highest number of so-called high net worth individuals (HNWIs) with 37,400 millionaires, 102 centi-millionaires and 5 billionaires. It was followed by Egypt with 15,600 millionaires, 52 centi-millionaires and 7 billionaires, while Nigeria placed 3rd on the continent with 8,226 HNWIs. Rounding up the top ten were Kenya (7,216 HNWIs), Morocco (6,836), Mauritius (5,115), Algeria (2,809), Ghana (2,706), Ethiopia (2,704) and Namibia (2,303).

Here is the full article, by Anna Fleck, via Anecdotal.

The post Where do you find high net wealth in Africa? appeared first on Marginal REVOLUTION.

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