Africa Wealth Report 2022: South Africa, Egypt, Nigeria, Morocco, and Kenya — together account for over 50% of the continent’s total wealth
- South African citizens have the greatest combined wealth at $651 billion, followed by Egypt ($307 billion) and Nigeria ($228 billion).
- According to the report, Egypt now has the most billionaires, more than any African country.
- There are currently 136,000 high-net-worth individuals (HNWIs) with a private wealth of USD 1 million or more living in Africa.
Africa’s ‘Big 5’ private wealth markets (South Africa, Egypt, Nigeria, Morocco, and Kenya) account for over 50% of the continent’s total private wealth, according to the latest 2022 Africa Wealth Report.