South Africa, Egypt, Nigeria, Kenya, and Morocco — account for 56% of the continent’s millionaires.
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GUEST – Andrew Amoils - Head of Research at New World Wealth
The latest African Wealth Report for 2024 shows that South Africa has continued to bleed millionaires, with 400 wealthy individuals calling it quits on the country or losing their millionaire status in 2023 – adding to the thousands lost over the last decade. The wealth report, published by international wealth advisory firm Henley & Partners in collaboration with global wealth intelligence partner New World Wealth, shows that South Africa had 37,400 high-net-worth individuals (HNWIs) at the end of 2023. This is 400 fewer than the 37,800 recorded at the end of 2022, and down 11,300 from the 48,700 recorded at the end of 2013.
The latest African Wealth Report for 2024 shows that South Africa has continued to bleed millionaires, with 400 wealthy individuals calling it quits on the country or losing their millionaire status in 2023 – adding to the thousands lost over the last decade. The wealth report, published by international wealth advisory firm Henley & Partners in collaboration with global wealth intelligence partner New World Wealth, shows that South Africa had 37,400 high-net-worth individuals (HNWIs) at the end of 2023. This is 400 fewer than the 37,800 recorded at the end of 2022, and down 11,300 from the 48,700 recorded at the end of 2013.
