Between the first quarter of 2021 and the last quarter of 2022, the total private wealth in Africa stood at $21 trillion, comprised of 136,000 approximate numbers of millionaires, with net assets of $1 million each or more, 6,700 approximate numbers of multi-millionaires, with net assets of $10 million each or more, 305 cent-millionaires, with net assets of $100 million each or more, and 18 billionaires, with net assets of $1 billion each or more.
South Africa’s total private wealth stood at $651 billion, with many multi-millionaires, cent-millionaires, and five billionaires. Egypt’s total private wealth stood at $307 billion, with many multi-millionaires, cent-millionaires, and five billionaires.
Nigeria’s total private wealth stood at $228 billion, with many multi-millionaires, cent-millionaires, and three billionaires. Morocco’s total private wealth stood at $125 billion, with many multi-millionaires, cent-millionaires, and two billionaires.
Algeria, Zimbabwe, and Tanzania have one billionaire each with many multi-millionaires and cent-millionaires, while Ghana, Kenya, and many other countries have many multi-millionaires and cent-millionaires. South Africa, Egypt, and Nigeria make up about 56% of Africa’s wealth (wealth of individuals).
As the wealth reports for 2023 are gradually emerging, let’s take a look at the top African countries with the highest number of billionaires. (Click next below to continue reading)
Source: face2faceafrica.com
