Africa’s private wealth is on the cusp of a historic expansion. According to the Africa Wealth Report 2025, published by migration specialists Henley & Partners, the continent is forecast to see a 65 per cent increase in millionaires by 2033, outpacing most global regions.
Wealth hubs in South Africa, Egypt, Nigeria, Kenya and Morocco are expected to drive much of this growth, underpinned by sustained economic expansion, rising access to education and technology, and increased flows of international capital.
But behind the headline numbers lies a more complex picture. African high net worth individuals (HNWIs) and ultra-high net worth individuals (UHNWIs) are not only creating wealth at home, they are also increasingly mobile, diversifying investments across jurisdictions and financial booking centres, which seeking stability abroad.
This trend is spurring global private banks to…
