Africa sees record millionaire growth in 2025 as Morocco leads continent

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, marking record growth for the continent.

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, highlighting inequality within the millionaire demographic.

The growth in African millionaires reflects broader economic developments across the continent, including expanding financial sectors and increasing investment in real estate and commodities. Morocco's exceptional performance demonstrates how diversified economies can accelerate wealth creation.

The report's findings come at a time when global wealth is concentrated among a small elite, with implications for economic policy and development strategies across emerging markets including Africa.