Ghana Among Africa’s top Wealth Hubs With 2,600 Dollar Millionaires
Ghana has been ranked among Africa’s leading wealth hubs, with an estimated 2,600 dollar millionaires as of June 2025, according to the Africa Wealth Report 2025 by international wealth advisory firm Henley & Partners in collaboration with wealth intelligence company New World Wealth.
The ranking places Ghana eighth on the continent’s millionaire league table, behind Algeria with 2,700 millionaires and ahead of Namibia, which has 2,500.
South Africa continues to dominate the continental rankings with 41,100 millionaires, representing about 34 percent of Africa’s total millionaire population. Egypt follows with 14,800, Morocco with 7,500, Nigeria with 7,200, and Kenya with 6,800. Collectively, these top five countries account for 63 percent of Africa’s millionaires and 88 percent of its billionaires.
Mauritius, which ranks sixth with 4,900 millionaires, recorded the fastest growth rate on the continent, expanding its high-net-worth individual (HNWI) population by 63 percent over the past decade.
Africa’s wealth distribution
The report indicates that Africa is currently home to 122,500 millionaires, 348 centi-millionaires, and 25 billionaires. Over the next decade, the continent’s millionaire population is projected to grow by 65 percent, supported by emerging opportunities in sectors such as fintech, eco-tourism, software development, green technology, e-commerce, rare metals mining, and healthcare.
However, wealth trends across Africa remain uneven. Rwanda’s millionaire population has increased by 48 percent over the past 10 years, while Morocco has seen a 40 percent rise. Conversely, Nigeria recorded a 47 percent decline, followed by Angola and Algeria with contractions of 36 percent and 23 percent respectively.
Cities of wealth
On the city rankings, Johannesburg remains Africa’s wealthiest city with 11,700 millionaires, followed by Cape Town with 8,500 and 35 centi-millionaires. Cairo ranks third with 6,800, while Nairobi is fourth with 4,200, representing nearly half of Kenya’s total.
Cape Town, which remains Africa’s most expensive prime real estate market with an average price of USD 5,800 per square metre, is projected to overtake Johannesburg in total private wealth by 2030.
Africa’s economic resilience
Despite global macroeconomic headwinds, Sub-Saharan Africa’s economy is projected to expand by 3.7 percent in 2025, outperforming Europe (0.7 percent) and the United States (1.4 percent). Growth is expected to rise further to 4.1 percent in 2026, reinforcing the continent’s growing significance in global wealth creation.
Commenting on the findings, Dominic Volek, Group Head of Private Clients at Henley & Partners, stated that Africa’s expanding base of high-net-worth individuals highlights “the continent’s growing importance in the evolving global wealth landscape.”
Policy implications for Ghana
While Ghana’s rise into Africa’s top 10 wealthiest nations signals growing private affluence, analysts note that the country’s key challenge lies in translating private wealth into inclusive and sustainable growth.
“The rise in Africa’s millionaire class is both a signal and a test,” said Jean Paul Fabri, Chief Economist at Henley & Partners. “It signals that despite challenges, wealth is being created and retained. But it also tests the continent’s ability to turn wealth into economic transformation.”
For Ghana, leveraging its growing high-net-worth base through long-term investment, productive enterprise, and policy reforms will be essential in achieving sustainable prosperity.
