Here is the list of African countries with the most millionaires in 2024

Africa, often mentioned for its economic challenges, is also home to unsuspected wealth. According to the latest report from Henley & Partners and New World Wealth, nearly 55% of Africa's millionaires and more than 90% of billionaires are grouped in just five countries. Five countries are home to 56% of Africa's millionaires and 90% of billionaires (in US dollars), according to the Africa Wealth Report 2024. These countries are:
5 MOROCCO
In 5th position, is Morocco. The North African country has 6,800 millionaires, 32 centi-millionaires (who own one hundred million dollars) and 4 billionaires in 2024. The latter represent only about 0.02% of the Moroccan population, which stood at 37.5 million inhabitants in 2022.
4 KENYA
Kenya is the 4th African country with the most millionaires. In 2024, according to the Africa Wealth report, there were 7,200 as well as 16 centi-millionaires. For this West African country, which had a population of 54 million people in 2022, the super-rich represent approximately 0.01% of the population.
3 NIGERIA
On the 3rd step of the podium of African countries with the most millionaires, is Nigeria. In 2024, there are 8,200 millionaires, 23 centi-millionaires and 3 billionaires in this Gulf country. This represents less than 0.01% of the 218.5 million inhabitants.
2 EGYPT
A country in the northeast of the continent, Egypt is 2nd in the ranking. According to the report, in 2024, there are 15,600 millionaires, 52 centi-millionaires and 7 billionaires, or 0.01% of the population.
1 SOUTH AFRICA
Finally, it is South Africa that takes the top spot in this ranking. In 2024, the former British colony had 37,400 millionaires, 102 centi-millionaires, 5 billionaires, or 0.06% of the 59 million inhabitants.

Sources:  NetAfrique.net