Number of Billionaires Explodes in Africa Over 25 Years, and It's Just the Beginning
Number of Billionaires Explodes in Africa Over 25 Years, and It's Just the Beginning
The continent is expected to have 25 billionaires by the end of 2025, according to a report by Henley & Partners. That number is projected to increase by 65% within the next 10 years.
This is a "remarkable" result compared to the late 20th century, when such fortunes were rare.
Here are some figures attesting to the continent's growing wealth:
🟠 Africa is also home to 122,500 millionaires and 348 centi-millionaires.
🟠South Africa accounts for the largest number of millionaires, with 41,100 individuals, representing 34% of the total.
🟠 It is followed by Egypt (14,800 millionaires), Morocco (7,500), Nigeria (7,200), and Kenya (6,800).
🟠 The countries mentioned alone account for 88% of the continent's billionaires.
🟠The rise in large fortunes is supported by robust economic growth: Sub-Saharan Africa's economy is expected to grow by 3.7% in 2025, compared to 0.7% for Europe.
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