It Has Become Known How Many Billionaires And Millionaires There Are In Africa

The number of dollar millionaires in Africa will grow by 65% by 2035.

The total number of millionaires living in Africa will grow by 65 percent in the next ten years, according to a (report https://t.me/henleypartners/218) by consultancy Henley & Partners, which provides data on the continent's current wealth.

According to the organization's calculations, there are now 122,500 millionaires in Africa, with more than a third of them (41,100) based in South Africa. Egypt (14.8 thousand millionaires), Morocco (7.5 thousand), Nigeria (7.2 thousand) and Kenya (6.8 thousand) are also in the top 5 by number of millionaires.

Billionaires in Africa turned out to be 25, which Henley & Partners called striking compared to the end of the 20th century, when there were "only a few", while "many African economies were in protracted crisis".

According to Forbes, at the end of March 2025, the combined wealth of African billionaires exceeded $100 billion for the first time in history, jumping to $105 billion from $82.4 billion a year earlier. The richest resident of the continent in 2024 for the 14th time in a row recognized 67-year-old Nigerian Alico Dangote, who strengthened his position due to the opening of an oil refinery on the outskirts of the capital Lagos, which will allow the hydrocarbon-producing state to start exporting some petroleum products.

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