South Africa concentrated the largest amount of private wealth in Africa as of 2021, some 651 billion U.S. dollars. Egypt, Nigeria, Morocco, and Kenya followed, establishing the five wealthier markets in the continent. The wealth value referred to assets, such as cash, properties, and business interests, held by individuals living in each country, with liabilities discounted. Overall, Africa counted in the same year approximately 136,000 high net worth individuals (HNWIs), each with net assets of one million U.S. dollars or more.

 COVID-19 and wealth constraints  

Africa held 2.1 trillion U.S. dollars of total private wealth in 2021. The amount slightly increased in comparison to the previous year, when the coronavirus (COVID-19) pandemic led to job losses, drops in salaries, and the closure of many local businesses. However, compared to 2011, total private wealth in Africa declined 4.5 percent, constrained by poor performances in Angola, Egypt, and Nigeria. By 2031, however, the private wealth is expected to rise nearly 40 percent in the continent.

 The richest in Africa 

Besides 125 thousand millionaires, Africa counted 6,700 multimillionaires and 305 centimillionaires as of December 2021. Furthermore, there were 21 billionaires in the African continent, each with a wealth of one billion U.S. dollars and more. The richest person in Africa is the Nigerian Aliko Dangote. The billionaire is the founder and chairman of Dangote Cement, the largest cement producer on the whole continent. He also owns salt and sugar manufacturing companies.

As of April 2025, South Africa's GDP was estimated at over 410 billion U.S. dollars, the highest in Africa. Egypt followed, with a GDP worth around 347 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with nearly 269 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

This dataset provides values for GDP PER CAPITA reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Seychelles had the largest Gross Domestic Product (GDP) per capita in Africa as of 2024. The value amounted to 21,630 U.S. dollars. Mauritius followed with around 12,330 U.S. dollars, whereas Gabon registered 8,840 U.S. dollars. GDP per capita is calculated by dividing a country’s GDP by its population, meaning that some of the largest economies are not ranked within the leading ten. Impact of COVID-19 on North Africa’s GDP When looking at the GDP growth rate in Africa in 2024, Libya had the largest estimated growth in Northern Africa, a value of 7.8 percent compared to the previous year. Niger and Senegal were at the top of the list with rates of 10.4 percent and 8.3 percent, respectively. During the COVID-19 pandemic, the impact on the economy was severe. The growth of the North African real GDP was estimated at minus 1.1 percent in 2020. However, estimations for 2022 looked much brighter, as it was set that the region would see a GDP growth of six percent, compared to four percent in 2021.
Contribution of Tourism Various countries in Africa are dependent on tourism, contributing to the economy. In 2023, travel and tourism were estimated to contribute 182.6 billion U.S. dollars, a clear increase from 96.5 in 2020 following COVID-19. As of 2024, South Africa, Mauritius, and Egypt led tourism in the continent according to the Travel & Tourism Development Index.

The Seychelles' GDP per capita amounted to 22,000 U.S. dollars in 2025, the highest in East Africa. Mauritius ranked second, with a GDP per capita worth around 13,000 U.S. dollars. Burundi, on the other hand, had the lowest average income per person, at about 160 U.S. dollars.

The average for 2024 based on 52 countries was 6829 U.S. dollars. The highest value was in the Seychelles: 29242 U.S. dollars and the lowest value was in Burundi: 836 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

This dataset provides values for GOLD RESERVES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This statistic shows number of billionaires in African countries as of 2013. As of 2013, Nigeria had * citizens that were billionaires.

Levels and changes in the total fertility rates by richest and poorest, earliest and latest surveys.

As of January 2023, Aliko Dangote was the richest man in Africa. He had a net worth of around 13.5 billion U.S. dollars and ranked 128th worldwide. From Nigeria, he is the founder and chairman of the Dangote Group, a large conglomerate operating in several sectors including cement and sugar. The South African Johann Rupert and family followed as the second-richest people in Africa, with a net worth of 10.7 billion U.S. dollars.

Dangote Group continues to expand

Founded in 1981, the Dangote Group (Dangote Industries Limited) is among the largest conglomerates in Africa. Its main subsidiary, Dangote Cement Plc, is the main cement manufacturer on the African continent. The business went public in 2010 and is the largest company listed on the Nigerian Stock Exchange. In addition to the cement industry, the Group also manufactures and processes food products, such as sugar, flour, and salt. With Nigeria being the leading African country for oil production, Dangote expanded his business into the oil industry in recent years. For this purpose, the Group built Africa’s biggest oil refinery near Lagos, Nigeria.

Africa’s wealthiest countries

Wealth in Africa is concentrated in a few countries and, within those, in a few families. Counting the highest numbers of billionaires, South Africa, Egypt, and Nigeria are the wealthiest nations, having also the largest gross domestic products (GDPs) in Africa. These countries count the highest number of high-net-worth individuals (HNWIs), which amounts to over 39,000 in South Africa. Not surprisingly, Johannesburg and Cape Town have the highest concentration of private wealth in Africa. Moreover, South Africa has the highest wealth per capita after Mauritius.

The Gross Domestic Product per capita in Equatorial Guinea was last recorded at 5041.94 US dollars in 2024. The GDP per Capita in Equatorial Guinea is equivalent to 40 percent of the world's average. This dataset provides the latest reported value for - Equatorial Guinea GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Central African Republic CF: Account: Income: Richest 60%: % Aged 15+ data was reported at 4.618 % in 2011. Central African Republic CF: Account: Income: Richest 60%: % Aged 15+ data is updated yearly, averaging 4.618 % from Dec 2011 (Median) to 2011, with 1 observations. The data reached an all-time high of 4.618 % in 2011 and a record low of 4.618 % in 2011. Central African Republic CF: Account: Income: Richest 60%: % Aged 15+ data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Central African Republic – Table CF.World Bank.WDI: Banking Indicators. Denotes the percentage of respondents who report having an account (by themselves or together with someone else). For 2011, this can be an account at a bank or another type of financial institution, and for 2014 this can be a mobile account as well (see year-specific definitions for details) (income, richest 60%, % age 15+). [ts: data are available for multiple waves].; ; Demirguc-Kunt et al., 2015, Global Financial Inclusion Database, World Bank.; Weighted average;

The GDP per capita in Libya was estimated at around 7,200 U.S. dollars in 2022. Libya had the highest GDP per capita in North Africa in that year. Algeria followed, with a GDP per capita of approximately 4,300 U.S. dollars. In total, Egypt was the largest economy in the region.

This dataset provides values for CORRUPTION RANK reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Johannesburg was the wealthiest city in Africa as of 2021. South Africa's biggest city held *** billion U.S. dollars in private wealth, while Cape Town followed with *** billion U.S. dollars. The country led the ranking of wealthiest nations in Africa. The wealth value referred to assets such as cash, properties, and business interests held by individuals living in each country, less liabilities. Moreover, government funds were excluded.

The average for 2023 based on 11 countries was 41 metric tons. The highest value was in Morocco: 275 metric tons and the lowest value was in Algeria: 0 metric tons. The indicator is available from 2002 to 2023. Below is a chart for all countries where data are available.

South Africa ZA: Bank Account Ownership at a Financial Institution or with a Mobile-Money-Service Provider, Richest 60%: % of Population Aged 15+ data was reported at 73.578 % in 2017. This records a decrease from the previous number of 79.605 % for 2014. South Africa ZA: Bank Account Ownership at a Financial Institution or with a Mobile-Money-Service Provider, Richest 60%: % of Population Aged 15+ data is updated yearly, averaging 73.578 % from Dec 2011 (Median) to 2017, with 3 observations. The data reached an all-time high of 79.605 % in 2014 and a record low of 63.004 % in 2011. South Africa ZA: Bank Account Ownership at a Financial Institution or with a Mobile-Money-Service Provider, Richest 60%: % of Population Aged 15+ data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank.WDI: Bank Account Ownership. Account denotes the percentage of respondents who report having an account (by themselves or together with someone else) at a bank or another type of financial institution or report personally using a mobile money service in the past 12 months (richest 60%, share of population ages 15+).; ; Demirguc-Kunt et al., 2018, Global Financial Inclusion Database, World Bank.; Weighted average; Each economy is classified based on the classification of World Bank Group's fiscal year 2018 (July 1, 2017-June 30, 2018).

South Africa's GDP amounted to just over 418 billion U.S. dollars in 2025, the highest in Southern Africa. Zimbabwe ranked second, with a GDP worth around 37 billion U.S. dollars. Lesotho, on the other hand, ranked the lowest with a GDP of over 2.4 billion U.S. dollars.

Central African Republic CF: Coverage: Social Safety Net Programs: Richest Quintile: % of Population data was reported at 0.963 % in 2008. Central African Republic CF: Coverage: Social Safety Net Programs: Richest Quintile: % of Population data is updated yearly, averaging 0.963 % from Dec 2008 (Median) to 2008, with 1 observations. The data reached an all-time high of 0.963 % in 2008 and a record low of 0.963 % in 2008. Central African Republic CF: Coverage: Social Safety Net Programs: Richest Quintile: % of Population data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Central African Republic – Table CF.World Bank.WDI: Social: Social Protection and Insurance. Coverage of social safety net programs shows the percentage of population participating in cash transfers and last resort programs, noncontributory social pensions, other cash transfers programs (child, family and orphan allowances, birth and death grants, disability benefits, and other allowances), conditional cash transfers, in-kind food transfers (food stamps and vouchers, food rations, supplementary feeding, and emergency food distribution), school feeding, other social assistance programs (housing allowances, scholarships, fee waivers, health subsidies, and other social assistance) and public works programs (cash for work and food for work). Estimates include both direct and indirect beneficiaries.;ASPIRE: The Atlas of Social Protection - Indicators of Resilience and Equity, The World Bank. Data are based on national representative household surveys. (datatopics.worldbank.org/aspire/);;

South Africa was home to the highest number of millionaires in Africa as of 2023. The country had ****** high net worth individuals (HNWIs), corresponding to roughly ********* of the total number of millionaires on the continent. Second, in rank, Egypt counted ****** HNWIs. According to the source, approximately ******* HNWIs lived in Africa, each with *** million U.S. dollars or more net assets, excluding government funds. The wealth value refers to assets such as cash, properties, and business interests held by individuals living in a country with fewer liabilities. The rich in Africa Compared to 2020, the number of African millionaires increased by nearly **** percent. This means that ****** people joined the group of individuals with minimum net assets of *** million U.S. dollars. The number of centi- and multimillionaires has increased as well. In 2022, the Nigerian Aliko Dangote held the title of the wealthiest person in Africa. Founder and chairman of Dangote Cement, the largest cement producer in the whole African continent, the billionaire also owns salt and sugar manufacturing companies. His net worth is estimated at nearly ** billion U.S. dollars. Trillions of U.S. dollars in riches Total private wealth in Africa amounted to *** trillion U.S. dollars in 2021, a slight increase from 2020. That year, the coronavirus (COVID-19) pandemic had led to job losses, drops in salaries, and the closure of many local businesses. Compared to other African countries, South Africa concentrated the largest private wealth. Egypt, Nigeria, Morocco, and Kenya completed the leading wealth markets. The five nations accounted for over ** percent of Africa’s total wealth in 2021.