10 African countries with the highest number of dollar millionaires, according to latest ranking

Business Insider Africa presents a list of 10 African countries with largest concentration of millionaires.
The list is courtesy of the 2022 Africa Wealth Report.
Countries from different parts of the continent are represented on the top 10 list.
Henley & Partners recently collaborated with New World Wealth to release the 2022 Africa Wealth Report which contains some very interesting statistics. We at Business Insider Africa got a hold of the 75-paged report, and hereby bring you the highlights.

First, a total sum of $2.1 trillion is currently held by Africa's private sector. And the number is expected to jump 38% come 2032.

Another fascinating revelation from the report is that 50% of Africa's wealth is currently concentrated in just five countries. We shall be focusing on these countries shortly.

Also, there are currently some 136, 000 individuals with net worths of over a million dollars living across the African continent. In the same vein, the continent has about 6, 700 multimillionaires, with net worths of at least $10 million.

More so, a total of 305 centi-millionaires (i.e., individuals with net worths of over $100 million and more) are living in Africa at the moment. And the number of dollar billionaires in Africa currently stands at 21.

"New World Wealth has predicted a healthy wealth growth of 38% for Africa in the next decade, and several Eastern African countries stand out — with over 60% growth expected in Uganda and Rwanda by 2031, and over 50% in Kenya and Zambia," said a part of the report.

Here are 10 African countries with the highest number of dollar millionaires as of 2022

South Africa: There are some 39, 3000 high net worth individuals in South Africa who have net worths of over $1 million. The total number of multimillionaires in this country stands at 2,080, with 94 centi millionaires as well as 5 billionaires. Meanwhile, the total private wealth in the country is registered at a staggering $651 billion, the largest in Africa.

Egypt: There are some 16, 900 high net worth individuals in Egypt who have net worths of over $1 million. The total number of multimillionaires in this country stands at 880, with 57 centi millionaires as well as 7 billionaires. Meanwhile, the total private wealth in the country is registered $307 billion.

Nigeria: There are some 10, 000 high net worth individuals in Nigeria who have net worths of over $1 million. The total number of multimillionaires in this country stands at 510, with 28 centi millionaires as well as 4 billionaires. Meanwhile, the total private wealth in the country is registered $228 billion.

Kenya: There are some 8,500 high net worth individuals in Kenya who have net worths of over $1 million. The total number of multimillionaires in this country stands at 340, with 15 centi millionaires and zero billionaires. Meanwhile, the total private wealth in the country is registered $91 billion.

Morocco: There are some 5, 000 high net worth individuals in Morocco who have net worths of over $1 million. The total number of multimillionaires in this country stands at 220, with 22 centi millionaires as well as 3 billionaires. Meanwhile, the total private wealth in the country is registered $125 billion.

Mauritius: There are some 4, 800 high net worth individuals in Mauritius who have net worths of over $1 million. The total number of multimillionaires in this country stands at 210, with 6 centi millionaires and zero billionaires. Meanwhile, the total private wealth in the country is registered $44 billion.

Ethiopia: There are some 2,900 high net worth individuals in Ghana who have net worths of over $1 million. The total number of multimillionaires in this country stands at 140, with 4 centi millionaires and zero billionaires. Meanwhile, the total private wealth in the country is registered $52 billion.

Ghana: There are some 2,900 high net worth individuals in Ghana who have net worths of over $1 million. The total number of multimillionaires in this country stands at 120, with 4 centi millionaires and zero billionaires. Meanwhile, the total private wealth in the country is registered $59 billion.

Tanzania: There are some 2,400 high net worth individuals in Tanzania who have net worths of over $1 million. The total number of multimillionaires in this country stands at 80, with 8 centi millionaires and 1 billionaires. Meanwhile, the total private wealth in the country is registered $56 billion.

Angola: There are some 2,400 high net worth individuals in Angola who have net worths of over $1 million. The total number of multimillionaires in this country stands at 110, with 3 centi millionaires and 1 billionaires. Meanwhile, the total private wealth in the country is registered $53 billion.


https://africa.businessinsider.com/local/markets/10-african-countries-with-the-highest-number-of-dollar-millionaires-according-to/ntd6by1

Ok

Believe this at your own peril

What's the population of Kenya that they have 8,000 dollar millionaires while Nigeria with 200m population only have 10k dollar millionaires.. Who conducted the reasearch?

I DEY WORK MAKE I JOIN DEM NOT COUNTIN DEM.. if u know u know

helinues:
Believe this at your own peril

What's the population of Kenya that they have 8,000 dollar millionaires while Nigeria with 200m population only have 10k dollar millionaires.. Who conducted the reasearch?

The black man and shellfish-in-a-bucket mentality.

You didn't dispute the figures for Egypt or South Africa with many white people but you are so quick to cast doubt on that of fellow black man's Kenya. Kenyan herdsmen don't do our outdated grazing but use fodder and forriage.

RepoMan007:
The black man and shellfish-in-a-bucket mentality.

You didn't dispute the figures for Egypt or South Africa with many with people but you are so quick to cast doubt on that of fellow black man's Kenya.

See where you carry your mentality go? Is using Kenya as my basis of argument not logical? Whats the population of Egypt , whats the population of kenya?

Hell anus how do we want to have many billionaires when all they give us is 30 k stipend

helinues:


See where you carry your mentality go? Is using Kenya as my basis of argument not logical? Whats the population of Egypt , whats the population of kenya?

Now you are trying to save face but only succeeding in getting more illogical. You left white man's Egypt and SA with lower population than Nigeria yet with more millionaires to attack black man's Kenya that's lower than Nigeria's in both metrics. That's highly illogical.

RepoMan007:
Now you are trying to save face but only succeeding in getting more illogical. You left white man's Egypt and SA with lower population than Nigeria yet with more millionaires to attack black man's Kenya that's lower than Nigeria's in both metrics. That's highly illogical.

Now you are becoming more illogical... Both South Africa and Egypt have been presenting richest people in the world for decades.. Abi no be same Egypt that there stories are all over the bible or the South African once coal mining region..

And to burst your head, I have been to Kenya severally, The likes of Jimi Wanjigi are the richest which has no level in East Africa alone not to talk of Africa.

And to say you relate this discussion to racism speak much about your reasoning

helinues:


Now you are becoming more illogical... Both South Africa and Egypt have been presenting richest people in the world for decades.. Abi no be same Egypt that there stories are all over the bible or the South African once coal mining region..

And to burst your head, I have been to Kenya severally, The likes of Jimi Wanjigi are the richest which has no level in East Africa alone not to talk of Africa.

And to say you relate this discussion to racism speak much about your reasoning

Stop trying to win argument and be more reasonable. The bold is like saying because Dangote and BUA or Adenuga are not Igbo's, Igbo's in the middle class of wealthy people are suppose to be lower than for Dangote's and BUA's tribe or region.

Kenya is not disorganised like Nigeria. It shows black man has the potential to rise if backbiting can be checked.

RepoMan007:

Stop trying to win argument and be more reasonable. The bold is like saying because Dangote and BUA or Adenuga are not Igbo's, Igbo's in the middle class of wealthy people are suppose to be lower than for Dangote's and BUA's tribe or region.

Kenya is not disorganised like Nigeria. It shows black man has the potential to rise if backbiting can be checked.

Then I might have been wasting my time engaging with you cos all this your analysis lack any logic.

I give up

helinues:
Believe this at your own peril

What's the population of Kenya that they have 8,000 dollar millionaires while Nigeria with 200m population only have 10k dollar millionaires.. Who conducted the reasearch?

it's false.

I mean Ghana even made the list

You are surprised Ghana made the list? walahi, Nigerians are very ignorant people. No wonder Ghanaians are ahead of Nigerians Fuckeduppedness Do you know the number of millionaires in Ghana today?

Premiumwriter:
it's false.

I mean Ghana even made the list

What has population got to do with this. You think because your population is big means you are rich? what kind of logic is that?

helinues:
Believe this at your own peril

What's the population of Kenya that they have 8,000 dollar millionaires while Nigeria with 200m population only have 10k dollar millionaires.. Who conducted the reasearch?

PetroDolla2020:
What has population got to do with this. You think because your population is big means you are rich? what kind of logic is that?

Apart from coffee, what products do Kenya produce? Is there millionaires amongst top 20 in Africa?

What's the worth of Jimi Wanjigi, one of their richest currently?

Even as how rich Dp Ruto is, he is still a learner to some East African millionaires in dollars

PetroDolla2020:
You are surprised Ghana made the list? walahi, Nigerians are very ignorant people. No wonder Ghanaians are ahead of Nigerians Fuckeduppedness Do you know the number of millionaires in Ghana today?

na Country Ghana be abi na state for Naija

Actually naija is Ghana’s farmhouse

To call nigeria a region in Ghana is a blatant insult to the good people of Ghana

nigeria is like a large open grazing place for Ghana. It is a place where we keep cows, chickens, as well as armed robbers, kidnappers, ritualists , pr0stitutes, thieves and useless mudder fuggerz like you

Premiumwriter:
na Country Ghana be abi na state for Naija

Apart from oil, what does Nigeria produce? The last time I checked, kenya was not the poverty capital of the world

helinues:


Apart from coffee, what products do Kenya produce? Is there millionaires amongst top 20 in Africa?

What's the worth of Jimi Wanjigi, one of their richest currently?

Even as how rich Dp Ruto is, he is still a learner to some East African millionaires in dollars