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+): 2,300
Angola, the seventh-largest country in Africa and the second-largest Portuguese-speaking nation by both land area and population of 39 million people, faces mixed economic prospects in 2025. It counts about 2,400 millionaires and 6 centi-millionaires, with wealth largely concentrated in Luanda, located on the Atlantic coast and serving as the country’s principal seaport.
Real GDP growth is projected at a modest 2.4%, constrained by structural challenges and heavy reliance on oil revenues. Nominal GDP is expected at $113.34 billion, with per capita income of about $2,880. On a purchasing power parity (PPP) basis, GDP rises sharply to $402.16 billion, or $10,230 per capita, accounting for 0.19% of global output. However, inflation remains a pressing concern, with consumer prices forecast to surge by 22%, one of the highest rates on the continent
