Nigeria Ranks Third in List of Top 10 Countries With the Largest Dollar Millionaires in Africa for 2022

Nigeria Ranks Third in List of Top 10 Countries With the Largest Dollar Millionaires in Africa for 2022

  • A new report has revealed the top 10 African countries with the largest dollar millionaires for 2022
  • Although Nigeria has Africa's largest economy, it is sitting behind Egypt and South Africa on the new list
  • Details from the report show the top five countries hold over 50 per cent of the Continent’s Private Wealth

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Africa wealth report for 2022 published by Henley & Partners and New World Wealth has revealed that there are over 136,000 approximate millionaires (HNWIs) living in Africa with a net worth of US$1 million or more.

The 75-paged report also revealed that a 6,700 approximate multi-millionaires living in Africa, each with net assets of US$10 million or more.

It was also stated that In Africa, there are 305 centi-millionaires, each having a net worth of US$100 million or more, and 21 persons with a net worth of more than $1 billion.

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Foreign Debt: New Data Reveals Nigeria Owes China, India, 3 Others $4.85 Billion

Nigeria, dollar millionaires in Africa
Aliko Dangote is the richest man in Africa Credit: Jason Alden/Bloomberg via Getty Images
Source: Getty Images

Interesting fact

Aliko Dangote is the richest man in Africa, with over $20 billion net worth. Still, the largest concentration of wealth in the continent is in South Africa, followed by Egypt, then Nigeria.

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Morocco and Kenya completed the top five, which it said accounts for 50 per cent of the total wealth in Africa,

Breakdown of the top five African countries

South Africa has 39,3000 high-net-worth people, including 2,080 multimillionaires, 94 cent millionaires, and 5 billionaires.

Egypt has 16,900 high-net-worth people, including 880 multimillionaires, 57 cent millionaires, and 7 billionaires.

Nigeria ranks third, with 10,000 high-net-worth individuals, 510 multimillionaires, 28 cent millionaires, and four billionaires.

Kenya was ranked fourth due to its 8,500 high-net-worth persons, 340 multimillionaires, 15 cent millionaires and zero billionaires.

Read also

Dangote, Rabiu, Adenuga Have More Wealth Than 83 Million Nigerians, Says Oxfam

Morocco has 5000 high net worth individuals, 220 multimillionaires, 22 centi-millionaires, and 3 billionaires.


  • Ghana - 2,900(HNWIs), 120(Multi-millionaires) Centi-millionaires(4)
  • Tanzania- 2,400(HNWIs), 80(Multi-millionaires) Centi-millionaires(8) Billionaires (1)
  • Angola- 2,400(HNWIs), 110(Multi-millionaires) Centi-millionaires(3) Billionaires (1)
  • Ethiopia- 2,900(HNWIs), 140(Multi-millionaires) Centi-millionaires(4)

Billionaires line up to buy Chelsea FC after Abramovic's ouster

Recall that has reported that the beleaguered Chelsea Football Club is set to have new suitors, this time the owners of Chicago Cubs and Ken Griffin, a billionaire and hedge fund tycoon.

According to Sky News, the Ricketts family and Griffin have created an investment group that will present a reasonable offer for the European Champions on Friday, March 19, 2022.

This will be announced on Wednesday and will present a formidable competitor to other bidders as Roman Abramovich hands-off Chelsea after 19 years as owner of the club.


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