Economy - Intelpoint

South Africa has the highest number of millionaires in Africa at 41,100.
Egypt follows with 14,800 millionaires, making it the second largest hub.
Seychelles has the highest millionaire share of the adult population at 0.51%.
Mauritius is close behind with 0.45% of its adult population being millionaires.
Ethiopia has 2,400 millionaires, but their share is almost zero due to its large adult population.

Johannesburg is home to the highest number of millionaires in Africa, with 11,700 individuals.
Six out of the top ten wealthiest African cities are located in South Africa.
Cairo leads North Africa with 6,800 millionaires, showing its dominance as a financial hub.
Nairobi has 4,200 millionaires, making it East Africa’s wealthiest city.
Lagos, with 3,600 millionaires, remains West Africa’s wealthiest city.
Lifestyle regions, such as the Cape Winelands and the Garden Route, feature prominently, reflecting the importance of property and lifestyle economies.
Casablanca, with 2,900 millionaires, underscores Morocco’s rising appeal as a North African wealth centre.

South Africa dominates with 41,100 millionaires, accounting for more than 1 in 3 African millionaires, far ahead of any other nation.
Egypt (14,800) and Morocco (7,500) round out the top three, highlighting North Africa’s wealth concentration.
Nigeria (7,200) and Kenya (6,800) confirm West and East Africa’s growing wealth hubs, though still far below South Africa.
Mauritius (4,800) and Seychelles (500) rank surprisingly high relative to population size, showing their role as finance and wealth management hubs.

Mauritius is the fastest-growing hub with a 63% surge in millionaires, highlighting its rising financial services sector and favourable investment climate.
Rwanda (+48%) and Morocco (+40%) also show strong upward trends, driven by economic diversification and political stability.
Nigeria (-47%), Angola (-36%), and Algeria (-23%) recorded the steepest declines, reflecting oil dependence, currency challenges, and political instability.
Africa overall saw a -5% dip, showing that while select countries are thriving, the continent’s wealth distribution has shifted unevenly.

Aliko Dangote of Nigeria is the richest Black billionaire globally, with more than double the wealth of the next African on the list.
Six of the top 10 billionaires are American, led by David Steward ($11.4B) and Robert F. Smith ($10.8B).
Nigeria is the only African country with multiple names: Dangote ($23.9B), Mike Adenuga ($6.8B), and Abdulsamad Rabiu ($5.1B).
Fortunes span industries from cement, oil, and telecoms in Africa to tech, investment, sports, and entertainment in the US.

Black River, Mauritius, saw the fastest growth in millionaires: more than 105% over 10 years, adding about 560 new millionaires.
Marrakech, Morocco, grew by 67%, gaining roughly 680 millionaires from tourism and luxury real estate.
Whale Coast, South Africa, added around 600 millionaires with 50% growth, driven by lifestyle migration.
Cape Winelands, South Africa, gained about 1,100 millionaires, growing 42% over the decade.
Cape Town grew more modestly at 33%, but had the largest absolute gain—over 2,100 millionaires—reaching 8,500 total.

Jewellery demand made up 81.35% of Egypt’s total gold demand between 2010 and 2024.
The highest jewellery demand was recorded in 2010 at 53 tonnes, and no year since has reached that level.
Jewellery demand declined by 50.75% between 2010 and 2024.
Bar and coin demand saw a sharp 700% increase between 2021 and 2022.
In 2023, bar and coin demand hit a record high of 30.3 tonnes and, for the first time, exceeded jewellery demand.
Overall, bar and coin demand rose by 943.48% between 2010 and 2024.

Key takeaways:

The United States holds the largest national gold reserves in 2024, totalling 8,133.46 tonnes.
Western European countries in the top ten list collectively hold 9,892.76 tonnes of gold reserves.
China, India, and Japan are the only Asian countries in the top 10, together holding 4,001.71 tonnes.
The Russian Federation is the leading gold reserve holder in Central and Eastern Europe, with 2,332.74 tonnes.
All countries in the top ten list maintain at least 600 tonnes of gold reserves.
The total gold reserve held by the top ten countries amounted to 24,360.67 tonnes.

Key takeaways:

China leads all nations with total reserves of $3.46 trillion while holding 5.53% of its share in gold reserves.
The top 15 countries collectively hold a total reserve of $10.78 trillion.
Despite being the global leader in gold reserves, the United States ranks third in total reserves.
The largest share of the United States' total reserves is from its gold reserve holdings of 74.97%.
Countries in the top fifteen list hold at least $236.9 billion each in total reserves.
The United States, France, and Italy have more than 70% of their total reserve holdings in gold.

Key Takeaways:

As of March 13, 2025, Elon Musk is the sole individual whose net worth exceeds $300 billion.
Mark Zuckerberg is recognised as the youngest member among the top ten wealthiest individuals globally.
The exclusive $200 Billion Club features just three members: Musk, Bezos, and Zuckerberg.
The combined wealth of the ten richest individuals in the world totals around $1.8 trillion.
Eight individuals in the top ten wealth ranking list hail from the United States.

1 2 3 4 Next