Report finds Africa had record growth in number of millionaires in 2025

A new world report reveals that global wealth held by millionaires hit a record $98.3 trillion in 2025, an increase of 8.7 per cent.

The 2026 edition of the Capgemini Research Institute’s World Wealth Report says this was driven by strong equity markets, AI-linked technology stock gains, and easing inflation.

The global millionaire population of high-net-worth individuals grew by nearly 2 million to reach 25.3 million people.

Africans possessing at least $1 million in investable assets, excluding their primary residence, grew by 4,1 per cent.

Morocco was the standout performer at 16.8 per cent, registering the fastest growth of high-net-worth individuals on the continent.

Capgemini said this figure reflects the kingdom's expanding financial services sector, rising real estate values, and growing ultra-wealthy cohort drawn from its diversified private sector.

It cited higher precious metal prices as a key driver of high-net-worth wealth creation across the African continent.

The report found that wealth among this group “remains highly concentrated” with just 1 per cent of them holding 34.8 per cent of the capital.