Mauritius, Rwanda, and the Democratic Republic of Congo are expected to see their millionaire numbers grow by at least 60% each during the period, the latest wealth research curated by investment consultancy Henley & Partners shows. These three countries, plus Uganda and Seychelles, have seen the highest growth in millionaire numbers in Africa since 2012. Namibia, Zambia, Seychelles, and Morocco will also have more millionaires in the next decade, the report said. These countries will help increase Africa’s millionaires to 195,000 by 2032. The drop in the number of millionaires in South Africa, Nigeria, and Egypt has happened despite the three being among Africa’s largest economies by gross domestic product and top destinations for startup investment running into billions of dollars.
The Number of Dollar Millionaires Living in Africa is Projected to Grow by 42% in the Next Decade
