The African continent has investable wealth worth USD 2.4 trillion and the population of millionaires is expected to increase by 42% over the next 10 years, according to the 2023 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth. South Africa, Egypt, Nigeria, Kenya, and Morocco make up 56% of the continent’s high-net-worth individuals (HNWIs) and over 90% of its billionaires. South Africa has twice as many HNWIs as any other African country and accounts for 30% of the continent’s centi-millionaires. Egypt has the highest number of billionaires, while Mauritius has the highest wealth per capita at USD 37,500. The report indicates that Africa’s wealth market is steadily growing and offers opportunities for investors, entrepreneurs, and businesses.
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