South Africa tops the list of wealthiest countries in Africa
Billionaires, centi-millionaires and millionaires – South Africa has it all and has even topped the list of wealthiest countries in Africa.
South Africa certainly has it all: Beauty, culture, heritage, incredible people and now, it’s even been listed as the wealthiest country on the African continent by Henley and Partners.
HIGH-NET-WORTH INDIVIDUALS IN SOUTH AFRICA
According to Henley & Partner’s Africa Wealth Report for 2023, South Africa is number one on the list of the Top 10 wealthiest countries in Africa in terms of resident high-net-worth individuals.
What’s more, Johannesburg ranked as the wealthiest city.
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The report provides a comprehensive review of private wealth in Africa, including high-net-worth-individuals, luxury and wealth management trends, as well as expert insights on investing in Africa, the investment migration sector and economic mobility on the continent.
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The report also revealed that the continent was home to 23 billionaires, 328 centi-millionaires and 138 000 millionaires, with South Africa topping the list for most in all of Africa.
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BILLIONAIRES, CENTI-MILLIONAIRES AND MILLIONAIRES
In terms of definition by Henley & Partners, a billionaire is considered such if an individual has wealth of USD 1 billion or more, a centi-millionaire if they have with wealth of USD 100 million or more and a millionaire if they have wealth of USD 1 million or more.
“South Africa’s high centi-millionaire count is particularly notable. Centi-millionaires are typically the founders of large multi-national companies, making their presence in a country particularly valuable when it comes to creating employment.” the report noted.
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THE TOP 10
Check out the list of the top 10 wealthiest countries in Africa along with their number of high-net-worth individuals below:
| Country | Billionaires | Centi-millionaires | Millionaires |
| 1. South Africa | 5 | 98 | 37 800 |
| 2. Egypt | 8 | 54 | 16 100 |
| 3. Nigeria | 4 | 27 | 9 800 |
| 4. Kenya | – | 15 | 7 700 |
| 5. Morocco | 4 | 28 | 5 800 |
| 6. Mauritius | – | 10 | 4 900 |
| 7. Algeria | 1 | 8 | 2 800 |
| 8. Ethiopia | – | 4 | 2 700 |
| 9. Ghana | – | 5 | 2 600 |
| 10.Tanzania | – | 6 | 2 400 |