April 2024

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According to the World Wealth Report 2015 released by Capgemini and by RBC Wealth Management, the wealthy of North America and the Asia-Pacific regions together account for about $32 trillion. This does not mean that other regions in the world do not host high net worth individuals (HNWI). Africa’s wealthy population is rapidly growing as well. The number of millionaires in the continent has increased at twice the pace of the rest of the world in the last 15 years. Between 2000 and 2014, the number of high net worth individuals in the continent has increased by 145%. A high net worth individual is considered to have net assets of $1 million (£645,000) or more.

16. Uganda

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Today, 1300 HNWI live in Uganda. It is a 116% leap in since 2000.

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15. Morocco

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Morocco is now the 5th largest African economy. It counts 4800 millionaires, a rise of 118% since 2000.

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14. Tanzania

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Tanzania has the second-largest economy in the East African Community. Today, 2200 millionaires live there. This number is up 120% from 15 years ago.

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13. Kenya 

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A 124% increase in the number of millionaires since 2000 has left this country with more than 8,000 HNW individuals.

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12. South Africa

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South Africa has by far the most ultra-wealthy people in the continent with 46 800 HNWI. This is “only” a 135% increase since 2000.

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11. Mozambique

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Mozambique is the home of 1000 millionaires. This number went up by 150% since 2000.

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10. Ivory Coast

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Ivory Coast now hosts 2300 millionaires, a 156% climb since 2000.

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9. Botswana

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The number of millionaires in Botswana increased by 160% to 2600 since 2000.

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8. Algeria

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Algeria now has 4,700 HNWI. This number is up from 1800 in 2000, a 161% increase.

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7. Mauritius

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Who would think that this island would host so many millionaires? Mauritius has seen a 167% boom in the number of millionaires since 2000.

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6. Namibia

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Despite having a very small population (fewer than 3 million people), Namibia has 3100 HNW individuals. This number has increased by 244% in the last 15 years.

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5. Ethiopia

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No other east African country has witnessed a bigger climb in the ultra-wealthy than Ethiopia did. Numbers increased by 250% to 2800 since 2000.

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4. Nigeria 

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The giant of Africa has 15400 ultra-wealthy people, and it is a 305% increase since 2000.

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3. Zambia 

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Zambia is home to the Victoria Falls, plus there is a lot of copper in the country. The number of HNWI rose by 400% to 1000.

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2. Ghana 

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Ghana’s economy soared during the commodity boom. The count of HNWI rose to 2700, a 440% increase since 2000.

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1. Angola 

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Angola is among the most mineral and oil-rich countries in the world. The middle class is booming and so is the ultra-rich segment of the population. The number of HNWI increased by 482% since 2000.

SEE ALSO: Africa Has 29 Billionaires. Guess Who’s Back On The List of Africa’s Richest People?

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