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The Africa Wealth Report 2025: A New Age of Prosperity

In its latest findings, the Africa Wealth Report 2025 presents a compelling narrative about the continent's economic future. Over the next decade, Africa is poised to witness a remarkable 65% surge in its millionaire population. This upward trend is not merely coincidental; it reflects a changing dynamic in the global wealth landscape, with Africa turning into an increasingly attractive destination for investment and business.

Current statistics show that Africa boasts 25 billionaires, 348 centi-millionaires, and a total of 122,500 millionaires. These figures suggest a burgeoning middle and upper class that is reshaping various economies across the continent. The economic forecasts are equally promising; countries in sub-Saharan Africa are expected to grow at a rate of 3.7% by 2025, significantly outpacing Europe and the United States, with projections of 0.7% and 1.4% respectively. Furthermore, a continued growth rate of 4.1% is anticipated in 2026, setting a vibrant stage for economic development.

Strong Performance Despite Global Challenges

The Africa Wealth Report is published annually by the esteemed wealth consultancy, Henley Partners, in conjunction with New World Wealth. It emphasizes that despite facing global economic headwinds, Africa's private wealth markets are thriving and adapting. As stated by Dominic Volek, Group Head of Private Clients at Henley Partners, the dynamics of investment migration are becoming bi-directional. Wealthy Africans are seeking opportunities for greater global mobility while international investors are increasingly recognizing Africa as a viable destination for stable, long-term capital investments.

Wealth Distribution Across Africa

Among the notable findings, South Africa remains a heavyweight in the wealth segment, accounting for 34% of Africa's millionaires. This figure is comparable to the combined total of the next five richest countries: Egypt (14,800), Morocco (7,500), Nigeria (7,200), and Kenya (6,800). Together, these nations hold over 63% of the continent's millionaires and 88% of its billionaires.

Mauritius has recently emerged as the sixth richest nation in Africa, boasting a remarkable 63% increase in High Net Worth Individuals (HNWIs) over the past decade. Rwanda and Morocco are also showing significant growth rates of 48% and 40% respectively. However, challenges persist, as Nigeria faces a dramatic decline with a -47% drop in its millionaire population, accompanied by notable decreases in Angola (-36%) and Algeria (-23%).

The Rise of African Cities

On a city level, Johannesburg claims the title of Africa's richest city, home to 11,700 millionaires. Following closely is Cape Town, which with 8,500 HNWIs also has the highest number of centi-millionaires—35 in total. Cape Town also leads in real estate prices with an average of $5,800 per square meter, positioning itself to potentially surpass Johannesburg in overall wealth by 2030. Cairo is ranked third with 6,800 HNWIs and five billionaires, while Nairobi, serving as the East African economic hub, comes in fourth with 4,200 millionaires, representing nearly half of Kenya's total private wealth.

Navigating Global Mobility Challenges

However, this promising economic narrative is overshadowed by significant challenges in global mobility for Africans. The issue of visa discrimination remains a critical barrier, as highlighted by exclusive research from Henley Partners' 2025 Global Mobility Report. This study reveals that while the global rejection rate for Schengen visa applications is around one in six, an astonishing one in two applications from Africans are denied. This stark statistic underscores systemic inequities that have more than doubled in the past decade.

The implications of these mobility restrictions are profound. Many affluent Africans are now actively seeking to diversify their options by acquiring alternative residence rights and citizenships in various countries. This strategic approach is not an indication of abandoning their homeland but rather an effort to expand their reach, secure international education opportunities for their children, and protect their family wealth. In fact, Henley Partners has recorded a significant rise in investment migration inquiries from 23 African countries, indicating a 50% increase in 2024 alone. Countries like South Africa and Egypt have emerged as key players in the global market for residency options.

Grace Arthur from Henley Partners Ghana emphasizes that despite these global mobility issues, these investors are not turning their backs on Africa. Instead, they are expanding the continent's influence and connectivity, seeking to tap into global capital markets. This proactive approach reflects a new narrative where African wealth is not only being retained but is also being enhanced through innovative strategies.

Conclusion

As we look towards the future, the Africa Wealth Report 2025 offers not just a snapshot of current wealth trends but also a glimpse of the continent's burgeoning potential. With a growing class of investment-minded individuals and an evolving landscape for wealth creation, Africa is primed to take a leading role on the global economic stage in the coming years.