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South Africa has 1 in every 3 millionaires in Africa
  • 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.

Though Seychelles has one of the lowest numbers of millionaires, it has the highest share of millionaires (0.51% of its adult population)
  • 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.

South African cities dominate in the number of millionaires, with 6 out of the top 10 wealthiest African cities
  • 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 hosts 41,100 millionaires, nearly six times Nigeria’s 7,200 millionaires
  • 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 leads Africa with 63% millionaire growth while Nigeria declines by 47% over the last decade
  • 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 tops world’s black billionaires list with $23.9B; Nigerians claim 3 spots in the top 10
  • 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.

Mauritius’ Black River leads the growth in Africa’s wealth hotspots with 105% in a decade (+560 millionaires)
  • 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.

The top 15 countries accounted for 68.8% of global gold production in 2023, with four African nations among the leaders
Key takeaways:
  • China led global gold production with 378.16 tonnes, representing approximately 10.4% of global output.
  • The top five producers (China, Russia, Australia, Canada, and the United States) collectively produced 37% of the world’s gold.
  • African nations showed remarkable strength, with four countries in the top 15 (Ghana, Mali, South Africa, and Burkina Faso).
  • Ghana led Africa in gold production and ranked 6th globally, producing 135.11 tonnes in 2023.
  • China, Australia, and Russia together produced nearly 1,000 tonnes of gold, accounting for 27.3% of total world production.

The average gold production in Africa between 2010 and 2023 was 840.59 tonnes, reaching a record high of over 1,000 tonnes in 2023
Key Takeaways:
  • Africa's gold production grew steadily from 621.78 tonnes in 2010 to 1,003.98 tonnes in 2023.
  • The continent experienced an overall increase of 61.5% in gold output over the 14 years.
  • The continent saw consistent year-on-year growth, with only minor declines in 2020 and 2022.
  • 2023 marked the highest production level in more than a decade.
  • The average annual growth rate in gold mine production over the period was approximately 4%.

Global gold mine production increased steadily from 2010 to 2023, marking a 29% overall rise despite temporary setbacks in 2019 and 2020
Key Takeaways:
  • Global gold production rose from 2,830.80 tonnes in 2010 to 3,646.07 tonnes in 2023.
  • The most significant year-over-year growth occurred between 2012 and 2013, with an increase of over 178 tonnes.
  • A temporary decline in production was recorded in 2019 and 2020, reflecting pandemic-related disruptions.
  • Production recovered quickly post-pandemic, reaching a record 3,646.07 tonnes by 2023.
  • Over the last fourteen years, gold mine output grew at an average annual rate of approximately 2%.
  • Growth from 2021 to 2023 was more moderate compared to earlier years.

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