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.
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.
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