Dar es Salaam. Tanzania has been ranked the 12th wealthiest country in Africa and 3rd in East Africa, according to the Africa Wealth Report 2025 released this week by Henley & Partners in partnership with New World Wealth.<\/p>\n
The report shows that Tanzania is home to 2,100 millionaires with wealth above $1 million, five centi-millionaires worth more than $100 million, and one billionaire \u2014 Mohammed Dewji, the only billionaire in East and Central Africa.<\/p>\n
Crucially, Tanzania has recorded 17 percent growth in its millionaire population between 2015 and 2025, significantly outperforming the continental trend, where Africa\u2019s overall millionaire numbers declined by 5 percent during the same period.<\/p>\n
Experts say the country\u2019s consistent economic growth, coupled with diversification in sectors such as mining, telecoms, and services, has helped fuel its rise as one of the region\u2019s new wealth hubs.<\/p>\n
\u201cTanzania\u2019s trajectory underlines East Africa\u2019s growing role in Africa\u2019s wealth landscape, with Dar es Salaam increasingly viewed as a rising financial and business hub,\u201d the report notes.<\/p>\n
Across the continent, Africa is now home to 122,500 millionaires, 348 centi-millionaires, and 25 billionaires, with projections pointing to 65 percent growth in millionaire numbers over the next decade.<\/p>\n
South Africa leads the continent\u2019s \u201cBig Five\u201d wealth markets with 41,100 millionaires, followed by Egypt (14,800), Morocco (7,500), Nigeria (7,200), and Kenya (6,800). Collectively, these five account for nearly two-thirds of Africa\u2019s total millionaires and close to 90 percent of its billionaires.<\/p>\n
Mauritius, ranked 6th, has recorded the fastest growth in high-net-worth individuals over the past decade at 63 percent, buoyed by political stability and investment-friendly policies. Rwanda (+48 percent) and Morocco (+40 percent) also posted strong gains, while Nigeria\u2019s millionaire population contracted by nearly half (-47 percent).<\/p>\n
At the city level, Johannesburg remains Africa\u2019s wealthiest city with 11,700 millionaires, while Cape Town (8,500 millionaires) is rapidly closing in and is expected to overtake by 2030. Cairo ranks 3rd with 6,800, while Nairobi, East Africa\u2019s top city, is home to 4,200 millionaires.<\/p>\n
Dominic Volek, Group Head of Private Clients at Henley & Partners, said Africa\u2019s rising millionaire population is reshaping the global wealth map:<\/p>\n
\u201cThe investment migration sector is now working both ways, with African investors seeking greater global mobility and diversification, while international investors are increasingly identifying Africa as a destination for long-term, stable capital deployment.\u201d<\/p>\n
For Tanzania, the findings reinforce its growing reputation as an East African powerhouse. Analysts say the challenge now lies in ensuring that private wealth translates into broad-based prosperity, job creation, and sustainable development in line with the country\u2019s Vision 2050 ambitions.<\/p>\n","protected":false},"excerpt":{"rendered":"Dar es Salaam. Tanzania has been ranked the 12th wealthiest country in Africa and 3rd in East Africa,…\n","protected":false},"author":2,"featured_media":143694,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-143693","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/143693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=143693"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/143693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/143694"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=143693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=143693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=143693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}