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+): 14,800
Egypt is home to 14,800 millionaires, 49 centi-millionaires and seven billionaires, making it one of Africa’s strongest wealth markets. With a population of 118.4 million people, it ranks as the 13th most populous country in the world. Its capital, Cairo, remains a bustling hub of history and commerce, with the pyramids, the Nile River, and the Suez Canal serving as both cultural symbols and economic lifelines.
Economically, Egypt is highly diversified, relying on tourism, agriculture, and transit revenues from the Suez Canal. By 2025, its GDP is projected at $347.34 billion, supported by 3.8% growth. On a per-capita basis, Egyptians earn about $3,170, though purchasing power parity lifts that figure to $21,670, reflecting the strength of domestic consumption.
Still, Egypt faces economic headwinds: inflation is expected to surge to 19.7%. Despite these pressures, its role as a gateway between Africa and the Middle East ensures that Egypt remains a vital player in the continent’s wealth landscape.
