The total investable wealth currently held on the African continent amounts to USD 2.5 trillion and its millionaire population is set to rise by 65% over the next ten years, according to the 2024 Africa Wealth Report, published by international wealth advisory firm Henley & Partners. Now in its 9th edition, the annual report reveals there are currently 135,200 HNWIs with investable wealth of USD 1 million or more living in Africa, along with 342 centi-millionaires and 21 dollar billionaires. Africa’s ‘Big 5’ wealth markets (South Africa, Egypt, Nigeria, Kenya, and Morocco) together account for 56% of the continent’s millionaires and over 90% of its billionaires. By 2033, the likes of Mauritius, Namibia, Morocco, Zambia, Kenya, Uganda and Rwanda are all expected to experience 80%+ millionaire growth.
Source : PR Newswire
