Africa’s wealth map is being redrawn. Once cast as a continent struggling to shake off economic decline, it is now emerging as one of the fastest-growing hubs of private wealth in the world.
With its population swelling past 1.5 billion and its economy projected to reach $29 trillion by 2050, Africa is producing millionaires at a pace that rivals more mature markets.
A new Africa Wealth Report 2025 from Henley & Partners and New World Wealth projects a 65% surge in the continent’s millionaire class over the next decade.
The numbers point not just to booming cities and expanding middle classes, but to the rise of Africa as a serious force in global finance.
This article breaks down the 15 African countries that now host the largest number of dollar millionaires’ individuals with investable wealth of $1 million or more offering a closer look at where prosperity is taking root and what it means for the continent’s economic future.
Algeria is home to roughly 2,700 millionaires and 10 centi-millionaires, making it one of North Africa’s key private wealth markets.
It is North Africa’s largest nation by landmass, and is projected to grow by 3.5% in 2025, with GDP reaching $268.9 billion in current prices and $875.3 billion in purchasing power parity terms, IMF data show. GDP per capita is estimated at $5,690 in nominal terms and $18,530 on a PPP basis, while inflation is expected to remain contained at 3.7%.
With a population of about 47.4 million, Algeria is the 33rd most populous country globally.The economy is dominated by oil and gas exports, which account for the majority of state revenue, though efforts to diversify into manufacturing and services are slowly taking root. The capital, Algiers, serves as the political and commercial hub.
