{"id":112169,"date":"2025-08-26T21:07:17","date_gmt":"2025-08-26T21:07:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/112169\/"},"modified":"2025-08-26T21:07:17","modified_gmt":"2025-08-26T21:07:17","slug":"nigeria-leads-as-africas-wealthiest-economies-lose-over-8000-millionaires-in-10-years","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/112169\/","title":{"rendered":"Nigeria leads as Africa\u2019s wealthiest economies lose over 8,000 millionaires in 10 years"},"content":{"rendered":"

\n Wealthy individuals often relocate in search of greater security, stable political systems, and stronger protections for their assets. These factors help explain the significant declines in high-net-worth populations<\/a> in countries like Nigeria, South Africa, and Egypt.\n <\/p>\n

\n The recent trade tensions between the U.S. and South Africa have put pressure on the nation\u2019s economy, contributing to a degree of millionaire outflow, as highlighted in the latest report.\n <\/p>\n

\n In Nigeria, certain economic policies have similarly prompted the exit of several millionaires, marking the largest recorded decline in the region.\n <\/p>\n

\n According to the latest African Wealth Report by Henley & Partners, Nigeria tops the list with the largest single decline in millionaires, while South Africa and Egypt also recorded notable decreases.\n <\/p>\n

\n However, the report also highlighted a gradual overall increase in the number of African millionaires<\/a>, indicating long-term growth despite declines in some of the continent\u2019s largest economies.\n <\/p>\n

\n Mauritius, ranked as Africa\u2019s sixth wealthiest country, recorded the strongest high-net-worth individual (HNWI) growth over the past decade at 63%, driven by political stability, tax efficiency, and a robust residence-by-investment program. Rwanda (+48%) and Morocco (+40%) also posted significant gains.\n <\/p>\n

\"Africa's <\/p>\n

\n Speaking on the findings, Jean Paul Fabri, Chief Economist at Henley & Partners, noted, \u201cThe rise in Africa\u2019s millionaire class is both a signal and a test. It signals that, despite challenges, wealth is being created and retained in key markets. But it also tests the continent\u2019s ability to translate private wealth growth into broad-based economic transformation.\u201d\n <\/p>\n

Top 5 African Wealth Markets: Millionaire Retention (2015\u20132025)<\/p>\n

Country<\/p>\n

Dollar Millionaires<\/p>\n

Millionaires Lost<\/p>\n

Millionaires Gained<\/p>\n

Change (%)<\/p>\n

South Africa<\/p>\n

41,100<\/p>\n

2,466<\/p>\n

0<\/p>\n

-6%<\/p>\n

Egypt<\/p>\n

14,800<\/p>\n

2,220<\/p>\n

0<\/p>\n

-15%<\/p>\n

Morocco<\/p>\n

7,500<\/p>\n

0<\/p>\n

3,000<\/p>\n

40%<\/p>\n

Nigeria<\/p>\n

7,200<\/p>\n

3,384<\/p>\n

0<\/p>\n

-47%<\/p>\n

Kenya<\/p>\n

6,800<\/p>\n

0<\/p>\n

952<\/p>\n

14%<\/p>\n

\n South Africa, home to the largest number of millionaires at 41,100, experienced a modest 6 percent decline, equating to a loss of 2,466 high-net-worth individuals.\n <\/p>\n

\n Egypt followed a similar pattern, with its 14,800 millionaires shrinking by 15 percent, representing a reduction of 2,220.\n <\/p>\n

\n By contrast, Morocco and Kenya bucked the downward trend. Morocco saw a substantial 40 percent increase, adding 3,000 millionaires to its 7,500-strong population, while Kenya experienced a more moderate rise of 14 percent, gaining 952 new millionaires on its existing 6,800.\n <\/p>\n

\n Taken together, these five countries lost a total of 8,070 millionaires while gaining 3,952, highlighting both the volatility and uneven distribution of wealth across Africa\u2019s top economies.\n <\/p>\n

\n The data clearly shows how different countries are navigating economic pressures, investment climates, and policy environments, resulting in contrasting outcomes in wealth accumulation and retention.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Wealthy individuals often relocate in search of greater security, stable political systems, and stronger protections for their assets.…\n","protected":false},"author":2,"featured_media":112170,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-112169","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/112169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=112169"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/112169\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/112170"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=112169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=112169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=112169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}