Ghana has cemented its position as one of Africa’s emerging wealth powerhouses, ranking 8th on the continent’s millionaire list with 2,600 dollar millionaires as of June 2025, according to the newly released Africa Wealth Report 2025.
The report, compiled by Henley & Partners in partnership with New World Wealth, places Ghana just behind Algeria (2,700 millionaires) and ahead of Namibia (2,500).
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Leading the continent’s wealth rankings is South Africa, home to 41,100 millionaires — representing a commanding 34% of Africa’s millionaire population. It is followed by Egypt (14,800), Morocco (7,500), Nigeria (7,200), and Kenya (6,800). Together, these “Big Five” economies account for 63% of Africa’s millionaires and 88% of its billionaires.
Mauritius, in 6th place with 4,900 millionaires, has recorded the fastest wealth growth on the continent, expanding its high-net-worth population by 63% in the past decade.
Other notable entries include Ethiopia (2,400), Angola (2,300), Tanzania (2,100), Côte d’Ivoire (2,000), and Botswana (1,700). Seychelles, with just 500 millionaires, ranks as Africa’s smallest wealth hub.
A Continent on the Move
The report estimates that Africa now hosts 122,500 millionaires, 348 centi-millionaires, and 25 billionaires. Despite regional instability, Africa’s millionaire population is projected to grow by 65% over the next decade, spurred by booming sectors such as fintech, green technology, healthcare, and rare metals mining.
Wealth growth, however, varies sharply across the continent. Rwanda has seen a +48% rise in millionaires over 10 years, Morocco +40%, while Nigeria and Angola have experienced sharp declines of -47% and -36% respectively.
Africa’s Cities of Wealth
Johannesburg remains Africa’s wealth capital with 11,700 millionaires, followed by Cape Town (8,500) and Cairo (6,800). Nairobi, with 4,200 millionaires, leads East Africa, while Cape Town boasts the continent’s most expensive real estate, averaging USD 5,800 per square metre. Analysts predict it could overtake Johannesburg in total wealth by 2030.
Ghana’s Wealth Challenge
For Ghana, joining Africa’s top 10 wealth hubs is a milestone — but also a test. Analysts say the country must now translate its growing private wealth into inclusive economic progress.
“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 wealth is being created and retained — but it also tests whether that wealth can drive true economic transformation.”
Africa’s Economic Edge
Despite global headwinds, Sub-Saharan Africa’s economy is projected to expand by 3.7% in 2025, outpacing both Europe (0.7%) and the United States (1.4%). Growth is expected to climb further to 4.1% in 2026, underscoring Africa’s growing influence in global wealth creation.
Dominic Volek, Group Head of Private Clients at Henley & Partners, said Africa’s expanding high-net-worth population demonstrates the continent’s “resilience and rising influence in the global wealth landscape.”
With 2,600 millionaires and a rapidly diversifying economy, Ghana’s next task is clear — to turn wealth into widespread prosperity and secure its place as a rising economic force in Africa.