Nigeria and Egypt are the only African countries projected to be in the top 15 economies by the year 2075
Per projections made by Goldman Sachs, China should lead the global economy in terms of GDP by the year 2075, closely followed by India and the US. Nigeria and Egypt are the only African countries expected to be in the top 15 by that time.
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.
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.