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.
No of millionaires ($1M+): 4,800
Mauritius is home to about 4,800 millionaires and 14 centi-millionaires, making it one of Africa’s top wealth hubs relative to its size. Its capital, Port Louis, serves as the political and financial center of the island nation.
This tourist thriving country has a population of 1.27 million, and is projected to grow by 3% in 2025, driven by tourism, financial services, and technology. The country’s nominal GDP is estimated at $15.5 billion, translating to $12,330 per capita. In purchasing power parity (PPP) terms, GDP reaches $41.35 billion, or $32,910 per capita, representing 0.02% of global output. Inflation is forecast at 3.6%, reflecting stable macroeconomic conditions and prudent policy management.
