Investment migration consultancy Henley & Partners has published its annual ranking of the African countries with the highest number of wealthy residents in its Africa Wealth Report, in collaboration with New World Wealth.

The report provides a comprehensive examination of private wealth in Africa, including trends related to wealthy individuals, luxury and wealth management, as well as expert opinions on investing in Africa, the investment migration sector and economic mobility in the continent.

The “big five” wealth markets in Africa: South Africa, Egypt, Nigeria, Kenya and Morocco, together represent 56% of wealthy people in Africa and more than 90% of the continent's billionaires.

South Africa by far leads the list of the 10 richest countries in Africa in terms of wealthy residents. Mauritius' position is also impressive considering its small size and low population.

List of African countries with the highest number of millionaires:

  1. South Africa (37,800)
  2. Egypt (16,100)
  3. Nigeria (9,800)
  4. Kenya (7,700)
  5. Morocco (5,800)
  6. Mauritius (4,900)
  7. Algeria (2,800)
  8. Ethiopia (2,700)
  9. Ghana (2,600)
  10. Tanzania (2,400)

article source: Africanews