Top ten wealthiest countries in Africa – Where does SA rank?

South Africa tops the list of the Top ten wealthiest countries in Africa in terms of resident high-net-worth individuals by some margin.

This is according to the Africa Wealth Report by Henly and Partners which covers the decade from 2012 – 2022.

TOP TEN WEALTHIEST COUNTRIES IN AFRICA

South Africa may be one of the most unequal countries in the world in terms of wealth and other factors but topping the list of wealthiest countries comes as no surprise as the country boasts some of the continent’s richest people such as CAF President and mining magnate Dr Patrice Motsepe, businessmen Johann Rupert and Nicky Oppenheimer among others.

According to the report, the ten wealthiest countries in Africa together account for 56% of the continent’s high-net-worth individuals and over 90% of the continent’s billionaires.

Notably, the total high-net-worth individual numbers in Africa have fallen by 12% over the past decade (2012 to 2022). Performance was constrained by poor growth in the three largest African markets, South Africa, Egypt, and Nigeria.

“Rwanda was the top performing market in Africa during the period, with millionaire growth of 72%, followed by Mauritius, the Seychelles, Uganda, and the Democratic Republic of the Congo. Morocco and Kenya’s high-net-worth individual populations also grew solidly.”

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HERE’S HOW THE COUNTRIES RANK

1. South Africa
2. Egypt
3. Nigeria
4. Kenya
5. Morocco
6. Mauritius
7. Algeria
8. Ethiopia
9. Ghana
10. Tanzania

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