Least Number Of Millionaires Are In Africa – But Here’s Where To Find The Continent’s Wealthiest People

By  |  October 31, 2019

The multinational investment company, Credit Suisse, has just released the 2019 Global Wealth Databook which is basically the “Map of the World for Millionaires.”

The Global Wealth Databook keeps tabs on the millionaire population in various parts of the globe and according to the latest data, North America plays host to the highest number of millionaires in the world.

As a matter of fact, with some 18.6 millionaires residing in the country, the United States is the country with the highest number of millionaires in the world.

On the other hand, Africa was found to be the continent with the least millionaires — 171,000. 

Oddly, Latin America, India and Africa all account for only 3 percent of the total number of high-net-worth individuals (HNWIs) for mid-2019.

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The highest number of wealthy people in Africa can be found in South Africa which has 46,000 millionaires while other African countries have less than a thousand millionaires.

Below is a breakdown of the total wealth (USD Bn) in the following African countries:

  • Egypt — 898
  • South Africa — 770
  • Nigeria — 443
  • Morroco — 305
  • Kenya — 249
  • Ethiopia — 163
  • Tunisia — 112
  • Tanzania — 82
  • Ghana — 66

Featured Image Courtesy: iStock

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