Africa's millionaire population is projected to grow by 65% over the next decade, according to the Africa Wealth Report 2025.

The continent is currently home to 25 billionaires, 348 centi-millionaires (net worth exceeds $100 million), and 122,500 millionaires, according to the report published annually by international wealth advisory firm Henley & Partners.

Sub-Saharan Africa's economy is projected to grow by 3.7% in 2025 — outpacing Europe (0.7% ) and the US ( 1.4% ) — with growth projected to reach 4.1% in 2026.

South Africa now accounts for 34% of Africa's millionaires — roughly equal to the next five wealthiest countries combined — with 41,100 millionaires.

It leads Africa's Big 5 wealth markets of Egypt (14,800 resident millionaires), Morocco (7,500), Nigeria (7,200), and Kenya (6,800), which together represent 63% of the continent's millionaires and 88% of its billionaires.

Nigeria's millionaire population has contracted sharply by 47%, with Angola and Algeria likewise in decline.

Wealthiest cities

Johannesburg holds onto the top spot as Africa's wealthiest city with 11,700 resident millionaires.

However, Cape Town, placed second with 8,500 high-net-worth individuals (HNWI), has emerged as the continent's leader in centi-millionaires, with 35 super wealthy individuals calling it home.

The 'Mother City' is also Africa's most expensive prime real estate market at $5,800 per m² and is on track to overtake Johannesburg in total wealth by 2030.

Cairo ranks third with 6,800 HNWI and has the highest concentration of billionaires in Africa, while East Africa's economic powerhouse Nairobi in fourth place has 4,200 millionaires, accounting for almost half of Kenya's total private wealth.