A New Wave of Wealth: Africa's Billionaires on the Rise
Africa is experiencing a remarkable surge in wealth, with a new report from Henley & Partners revealing a significant increase in its millionaire and billionaire populations. The continent is not just growing; it's transforming, with a "stunning" rise in prosperity since the turn of the century.
The numbers are telling. The report predicts Africa will have 25 billionaires by the end of 2025, a number expected to jump by an astounding 65% over the next decade. This boom is not just at the very top. The continent is also home to 122,000 millionaires and 348 centi-millionaires, showcasing a broad-based expansion of wealth.
Leading the charge are a few economic powerhouses. South Africa stands out as the continent's millionaire hub, home to over 41,000 of them. The country, along with Egypt, Morocco, Nigeria, and Kenya, collectively holds an impressive 88% of Africa's billionaires. This concentration of wealth reflects robust economic activity and strategic growth in key regions.
This financial rise is underpinned by strong economic fundamentals. Sub-Saharan Africa's economy is forecast to grow at 3.7% in 2025, a rate that far outpaces Europe's projected 0.7%. This a clear sign that Africa is not just catching up—it's paving its own path to a prosperous future.
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