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The Africa Wealth Report 2025: A Deep Dive into Prosperity

In an illuminating report released by Henley & Partners in collaboration with New World Wealth, the Africa Wealth Report 2025 reveals exciting forecasts for the continent's wealth landscape. Over the next decade, Africa is expected to witness a staggering 65% growth in its millionaire population. Currently home to 25 billionaires, 348 centi-millionaires, and 122,500 millionaires, the continent is experiencing unprecedented growth in its wealth markets, even amidst global economic challenges.

Economic Outlook: African vs Global Growth

According to the report, Sub-Saharan Africa’s economy is projected to expand by 3.7% in 2025, a rate that eclipses Europe’s predicted growth of 0.7% and the US’s modest 1.4%. This optimism is further underscored by a forecasted 4.1% growth for Africa in 2026. Dominating these narratives, Dominic Volek, Group Head of Private Clients at Henley & Partners, articulates a significant shift where African investors are seeking greater global mobility. At the same time, international investors are eyeing Africa as a stable destination for long-term capital deployment.

Africa’s Wealthiest: Countries and Cities

Following strong performance, South Africa now houses 34% of Africa's millionaires—approximately equal to the combined total of the next five wealthiest nations. With 41,100 millionaires, it stands at the forefront, followed by Egypt (14,800), Morocco (7,500), Nigeria (7,200), and Kenya (6,800). Together, these nations comprise 63% of the continent's millionaires and a remarkable 88% of its billionaires.

Mauritius ranks as the sixth wealthiest country and has demonstrated remarkable growth among High-Net-Worth Individuals (HNWIs), achieving a growth rate of 63% over the last decade. Meanwhile, countries like Rwanda (+48%) and Morocco (+40%) see positive trends, although Nigeria, Angola, and Algeria face declines in their millionaire populations.

At the city level, Johannesburg remains Africa's wealthiest city with 11,700 resident millionaires. However, Cape Town's rising status as the leader in centi-millionaires—with 35 ultra-wealthy individuals—positions it as a contender for total wealth supremacy over Johannesburg by 2030. Following closely, Cairo claims the third spot, noting a concentration of billionaires that includes five residing there. Economic powerhouse Nairobi rounds out the top four cities, contributing significantly to Kenya's wealth landscape.

Addressing Africa's Mobility Gap

Despite optimism, Africa faces challenges in global mobility. The influence of U.S. policy, particularly measures enacted under the previous administration, has introduced significant barriers for African nations. Recent trends indicate an increasing number of African countries could face restrictions on travel to the U.S., amplifying movement challenges. A study from Henley Partners identifies systemic visa discrimination against African nations in Europe, as one in two African Schengen visa applications is rejected, reflecting a larger trend of inequality in global mobility.

In response to these challenges, many affluent Africans are adopting a proactive strategy of securing residence rights and citizenships elsewhere, expanding their business reach, and safeguarding their wealth. Henley Partners has recorded heightened interest, with applications from 23 African nations increasing dramatically over the past 18 months, nearly doubling the number processed in 2020. Significant investment migration interest was noted with South Africa and Egypt emerging as leaders among global source markets.

Conclusion: A Bright Future Ahead

This year’s Africa Wealth Report not only highlights the continent's resilience and potential growth but also sets the stage for a dynamic shift in investment strategies among affluent Africans. Grace Arthur at Henley Partners Ghana sums it up perfectly: “These investors are not turning their backs on Africa — they are expanding its footprint, forging connections, and unlocking capital on a global scale.”

For enthusiasts and stakeholders in the wealth management and investment sectors, these findings underscore a pivotal moment in Africa's economic trajectory, suggesting that the continent is poised to continue attracting global interest and investment.