Africa-Press – Rwanda. Rwanda has been ranked 16th on the list of Africa’s wealthiest countries, according to the newly released Africa Wealth Report 2025 by Henley & Partners, a wealth advisory firm.
Rwanda stood out with 1,000 residents whose assets topped $1 million (approximately Rwf1.4 billion) and three centi-millionaires worth more than $100 million each.
The country has no billionaires, but its millionaire population has grown by 48 per cent over the past decade, the second fastest pace among the continent’s top 20 economies.
Published August 26, the study projects Africa’s millionaire class will expand by 65 per cent over the next decade.
For context, the continent today counts 25 billionaires, 348 people worth more than $100 million — known as “centi-millionaires” — and about 122,500 millionaires.
That marks a shift from the late 20th century, when Africa had only a handful of billionaires and many economies were stuck in decline.
Together New World Wealth, Henley & Partners’ findings suggest that private wealth in Africa is climbing even as the world economy faces uncertainty, supported by steady growth across the region.
In East Africa, Kenya leads with 6,800 millionaires and 16 centi-millionaires, ranking fifth overall in Africa. Tanzania sits 12th with 2,100 millionaires, five centi-millionaires and one billionaire. Uganda follows in 15th place with 1,600 millionaires and five centi-millionaires.
South Africa leads
South Africa remains Africa’s heavyweight, accounting for more than a third of the continent’s millionaires. With 41,100 residents holding wealth above $1 million, it ranks first among Africa’s “Big Five” wealth markets — a grouping that also includes Egypt (14,800 millionaires), Morocco (7,500), Nigeria (7,200) and Kenya (6,800).
Together, those five countries are home to nearly two-thirds of Africa’s millionaires and almost nine in ten of its billionaires.
Mauritius, ranked sixth, has posted the strongest high-net-worth growth in Africa over the past decade, rising 63 percent. Analysts credit its political stability, favorable tax regime and a thriving residency-by-investment program.
Rwanda (+48 per cent) and Morocco (+40 percent) also notched strong gains. By contrast, Nigeria’s millionaire class shrank by nearly half, while Angola and Algeria also saw steep declines.
Looking ahead, sub-Saharan Africa’s economy is forecast to grow 3.7 percent in 2025, outpacing Europe at 0.7 percent and the U.S. at 1.4 percent. Growth in 2026 is expected to accelerate to 4.1 percent.
The report includes commentary from author and analyst Justice Malala, who argues Africa’s economic resilience sits uneasily beside political fragility.
“If African leadership can harness the momentum of economic growth while tackling political dysfunction with equal resolve,” he writes, “the continent may yet turn this moment of paradox into one of transformation,” he said in the report.
Andrew Amoils, head of research at New World Wealth, points to lifestyle destinations such as South Africa’s Whale Coast and Cape Winelands and Morocco’s Marrakech as future hotspots for wealthy investors.
He predicts growth industries will include fintech, eco-tourism, software, green technology, e-commerce, rare metals mining, healthcare, biotech, media and wealth management.
Among individual wealth hubs, Mauritius’s Black River district leads with 105 percent millionaire growth in the past decade, followed by Marrakech (+67 percent) and the Whale Coast (+50 percent).
The Cape Winelands (+42 percent) and Cape Town (+33 percent) round out the top five, boosted by tourism, education and lifestyle appeal.
Source: The New Times
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