Africa’s Millionaire Explosion: The 16 Countries Where The Ultra-Wealthy Are Booming

AFRICANGLOBE – Africa’s wealthy elite is expanding at a dramatic pace. In fact, according to a report by New World Wealth, the number of African millionaires has risen at twice the pace of the rest of the world in the last 15 years.

Though huge parts of Africa remain locked in extreme poverty, it’s impossible to miss the emergence of ultra-wealthy individuals.

Here we’ve included the nations where the number of HNWI (high net worth individuals) has risen by more than 100% in the 15 years between 2000 and 2014. New World Wealth defines HNWIs as people with net assets of $1 million (£645,000) or more.

Overall in Africa, the number of HNWIs has risen by 145% over the period, while the world in general has seen an increase of 73%.

16. Uganda — a 116% increase in HNW individuals between 2000 and 2014 just sneaks Uganda onto the list, with 1,300 millionaires in the country now.

Africa's Millionaire Explosion: The 16 Countries Where The Ultra-Wealthy Are Booming
Kampala, Uganda