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Africa’s wealth landscape is undergoing a shift that highlights its growing influence in global capital flows. The Africa Wealth Report 2025, published by Henley & Partners and New World Wealth, shows the continent is now home to 25 billionaires, 348 centi-millionaires—people with fortunes of $100 million or more—and 122,500 millionaires. This points to a deeper change in how and where wealth is being built, with Sub-Saharan Africa playing a larger role than ever before.
Africa adds more billionaires
The billionaire count has risen from 22 to 25, lifted by stock market gains that boosted company valuations and pushed five individuals into the billionaire ranks this year alone. Among them are Malawian banker and entrepreneur Thom Mpinganjira and Egyptian real estate mogul Hisham Talaat Moustafa, who crossed the $1 billion mark as shares in their companies advanced. Their climb underscores how Africa’s stock exchanges are increasingly central to wealth creation, even in the face of global economic uncertainty.
That resilience stands out in comparison with global peers. Sub-Saharan Africa is expected to grow by 3.7 percent in 2025, well ahead of Europe at 0.7 percent and the United States at 1.4 percent. Expanding private wealth, diversified investment channels, and a thriving market for residency and citizenship programs are all adding to the continent’s position as a new center of wealth.
South Africa still tops millionaire ranks
South Africa still leads the continent with 41,100 millionaires, followed by Egypt, Morocco, Nigeria, and Kenya. But the bigger story is the rise of new wealth hubs. Mauritius has seen its millionaire population climb 63 percent over the past decade, while Morocco has grown by 40 percent. By contrast, South Africa’s millionaire numbers have fallen 6 percent, and Nigeria’s have dropped nearly by half.
Cities and regions that offer stability, quality of life, and strong investment opportunities are drawing wealth at record speed. Mauritius’ Black River region has seen its millionaire population more than double, growing 105 percent in 10 years. Marrakech is up 67 percent, and South Africa’s Cape Whale Coast has gained 50 percent. Cape Town continues to stand out: its millionaire count has risen by a third, and prime real estate prices there now top $5,800 per square meter—the highest in Africa.
Mauritius, Egypt rank among top destinations
The shift is not just about private business. Africa’s investment migration programs are increasingly important in attracting capital. South Africa and Egypt now rank among the world’s top 10 destinations for residence and citizenship applications. Mauritius, Egypt, and São Tomé and Príncipe have introduced programs that funnel investor money directly into infrastructure, renewable energy, and other high-priority projects.
The appetite for alternative residence and citizenship is also growing among Africans themselves. Applications rose 50 percent in 2024, with Portugal and Caribbean countries among the top choices for mobility and travel access. At the same time, Africa is becoming a destination in its own right. Mauritius’ residence-by-investment scheme has helped drive its 63 percent millionaire growth. Egypt’s program, starting at $250,000, has pulled in international investors, while São Tomé and Príncipe’s $90,000 option ties directly to renewable energy projects through a National Transformation Fund.
Tech and climate drive Africa’s future
Technology and climate-focused investment are adding new layers to the story. Google’s $25 million initiative for food security and artificial intelligence is aimed at supporting small and medium-sized businesses, which provide jobs for most of the workforce but struggle to access capital. Similarly, investment migration funds are being channeled into renewable energy, climate adaptation, and infrastructure that can withstand future shocks—without adding to government debt.
Equity markets continue to shape this new era. Cape Town, despite South Africa’s overall drop in millionaires, has become one of Africa’s fastest-growing wealth hubs. Morocco’s steady rise shows how smart policies and geographic advantage can attract high-net-worth individuals, even without large-scale migration programs.
Africa’s growing ranks of billionaires and millionaires reflect more than individual fortunes. They mark a broader shift in global wealth flows and point to a continent increasingly seen as a place where capital, talent, and opportunity meet. With 25 billionaires and a rapidly expanding base of wealthy individuals, Africa is not just building new fortunes—it is laying down the foundations of its economic future.
