In recent years, Africa has seen an increase in the number of billionaires, indicating the continent’s expanding economic potential and opportunities.
In this regard, some countries boast more high net worth individuals than others, countries that have become hubs of economic activity and innovation on the continent.
Although not without challenges, these countries continue to set the blueprint for Africa’s path to full prosperity.
These billionaires are also boosting Africa’s reputation as an emerging economic powerhouse, attracting foreign investment, partnerships and talent looking to tap into the continent’s potential.
Other advantages of having a large number of high net worth individuals include the creation of jobs through their businesses and the distribution of wealth through their philanthropic activities.
In addition, billionaires often fund research and development and startup ecosystems to stimulate technical progress and increase market competitiveness.
With that said, here are the African countries with the highest number of billionaires, according to Forbes.
Class | Country | Number of billionaires | billionaires |
---|---|---|---|
1. |
South Africa |
6 |
Johan Rupert and family, Nicky Oppenheimer and family, Patrice Motsepe, Kush Becker, Michel Le Roux, Christophe Viese |
2. |
Egypt |
5 |
Nassef Sawiris, Mohamed Mansour, Youssef Mansour, Yasseen Mansour, Naguib Sawiris, |
3. |
Nigeria |
4 |
Aliko Dangote, Mike Adenuga, Femi Otedola, Abdulsamad Rabiu |
4. |
Morocco |
2 |
Aziz Akhannouch & family, Othman Benjelloun & family |
Algeria, Eswatini, Zimbabwe and Tanzania each have 1 billionaire.