While the number of dollar millionaires in Mauritius, Rwanda, Uganda and Namibia grew in the last decade, it declined in Nigeria, Africa’s biggest economy.
The four smaller African countries are also projected to produce more millionaires in the next 10 years, challenging the ‘big five” wealth markets on the continent — South Africa, Egypt, Nigeria, Kenya, and Morocco –which have experienced declines in the number of millionaires over the past decade, according to the Africa Wealth Report 2023 by Henley and Partners, a London investment migration consultancy.
