scorecardAfrica's millionaire explosion: The 16 countries where the ultra-wealthy are booming
  1. Home
  2. finance
  3. Africa's millionaire explosion: The 16 countries where the ultra-wealthy are booming

Africa's millionaire explosion: The 16 countries where the ultra-wealthy are booming

16. Uganda — a 116% increase in HNW individuals between 2000 and 2014 just sneaks Uganda onto the list, with 1,300 millionaires in the country now.

Africa's millionaire explosion: The 16 countries where the ultra-wealthy are booming

15. Morocco — The fifth largest African economy (and the second in north Africa) now has 4,800 millionaires, a rise of 118% since 2000.

15. Morocco — The fifth largest African economy (and the second in north Africa) now has 4,800 millionaires, a rise of 118% since 2000.

14. Tanzania — the second-largest economy in the East African Community, Tanzania now has 2,200 millionaires, up 120% from the turn of the millennium.

14. Tanzania — the second-largest economy in the East African Community, Tanzania now has 2,200 millionaires, up 120% from the turn of the millennium.

13. Kenya — a 124% increase in the number of millionaires since 2000 has left this east African economy with more than 8,000 HNW individuals.

13. Kenya — a 124% increase in the number of millionaires since 2000 has left this east African economy with more than 8,000 HNW individuals.

12. South Africa — this country has by far the largest number of HNW individuals, and a 135% increase in the last 15 years has pushed the figure to 46,800.

12. South Africa — this country has by far the largest number of HNW individuals, and a 135% increase in the last 15 years has pushed the figure to 46,800.

11. Mozambique — this Indian Ocean-facing nation has seen a 150% increase in HNWIs, just above the African average, and now has 1,000 millionaires.

11. Mozambique — this Indian Ocean-facing nation has seen a 150% increase in HNWIs, just above the African average, and now has 1,000 millionaires.

10. Ivory Coast — a 156% climb in the number of millionaires brought this west African state's numbers into four-figure territory, up to 2,300.

10. Ivory Coast — a 156% climb in the number of millionaires brought this west African state

9. Botswana — this major diamond exporter has seen the number of millionaire residents rise by 160% since 2000, climbing to 2,600.

9. Botswana — this major diamond exporter has seen the number of millionaire residents rise by 160% since 2000, climbing to 2,600.

8. Algeria — this north African state now has 4,700 HNW individuals, up from 1,800 in 2000, an increase of 161%.

8. Algeria — this north African state now has 4,700 HNW individuals, up from 1,800 in 2000, an increase of 161%.

7. Mauritius — this island nation has a particularly strong tourism sector, and the country has seen a 167% boom in the number of millionaires since 2000.

7. Mauritius — this island nation has a particularly strong tourism sector, and the country has seen a 167% boom in the number of millionaires since 2000.

6. Namibia — Despite having a population of fewer than 3 million people, Namibia hosts 3,100 HNW individuals, a 244% rise on 15 years ago.

6. Namibia — Despite having a population of fewer than 3 million people, Namibia hosts 3,100 HNW individuals, a 244% rise on 15 years ago.

5. Ethiopia — no east African economy has seen a bigger climb in the ultra-wealthy than Ethiopia, where the numbers have risen 250% to 2,800 since 2000.

5. Ethiopia — no east African economy has seen a bigger climb in the ultra-wealthy than Ethiopia, where the numbers have risen 250% to 2,800 since 2000.

4. Nigeria — In Africa's largest state both by population and the size of the economy, the number of HNW individuals has more than quadrupled to 15,400, a 305% increase since 2000.

4. Nigeria — In Africa

3. Zambia — This copper-rich state, home to Victoria Falls, has seen its number of HNW individuals rise by 400% to 1,000.

3. Zambia — This copper-rich state, home to Victoria Falls, has seen its number of HNW individuals rise by 400% to 1,000.

2. Ghana — this west African state's economy thrived during the commodity boom, and the number of HNW individuals has grown by 440% since 2000 to 2,700.

2. Ghana — this west African state

1. Angola — one of the most mineral and oil-rich countries in the world, Angola now has a booming class of ultra-rich people, with a 482% rise in HNW numbers since 2000.

1. Angola — one of the most mineral and oil-rich countries in the world, Angola now has a booming class of ultra-rich people, with a 482% rise in HNW numbers since 2000.

Advertisement