Morocco is now home to 7,500 millionaires, making it one of Africa's top five wealth markets and one of the continent's fastest-growing hubs with a 40% rise over the past decade, according to the Africa Wealth Report 2025. Marrakech has emerged as a rising hotspot with a 67% increase in high-net-worth residents. Morocco is home to 7,500 millionaires, placing it among Africa's top five wealth markets alongside South Africa, Egypt, Nigeria, and Kenya. This is according to the newly released Africa Wealth Report 2025, which counts and analyzes millionaires, centi-millionaires, and billionaires across the continent while tracking how private wealth is distributed and growing by country and city. Morocco has emerged as one of Africa's fastest-growing wealth hubs, with its millionaire population rising by 40% over the past decade. The report, published by Henley & Partners in collaboration with New World Wealth, credits Morocco's rise to its political stability, strong export sectors, and diversification into green energy and technology. «With the EU and UK becoming less attractive among the global jet-set, there is potential for Africa to emerge as a major destination for wealthy entrepreneurs. There are already signs of this happening, with Morocco, Mauritius, Namibia and Seychelles all projected to see big wealth inflows this year», Head of Research at New World Wealth, Andrew Amoils, predicted. Morocco in the North African Context North Africa continues to dominate Africa's private wealth landscape, with Morocco, Egypt, and Algeria accounting for a significant share of the continent's millionaires. While Egypt leads with 14,800 millionaires, Morocco's steady gains contrast with Algeria's 23% decline and Libya's stagnation. Morocco's role as a bridge between Europe and Africa, combined with its proactive trade policies and infrastructure investments, has strengthened its appeal for both domestic and foreign investors. Across the continent, Africa is home to 25 billionaires, 348 centi-millionaires, and 122,500 millionaires, a remarkable leap from the late 20th century, when the continent counted only a handful of billionaires. Over the next decade, Africa's millionaire population is projected to grow by 65%, outpacing Europe and the US in relative terms. South Africa remains the wealth leader, with 41,100 millionaires, 34% of the continental total. Yet Mauritius (+63%), Rwanda (+48%), and Morocco (+40%) rank among the fastest-growing markets, signaling a shift in wealth creation across the continent. Major wealth hubs such as Johannesburg, Cape Town, Cairo, and Nairobi remain dominant, but Marrakech is now firmly among Africa's rising hotspots, attracting investors much like South Africa's Cape Winelands. Marrakech, in fact, has seen a 67% increase in high-net-worth residents over the past ten years. Analysts, however, warn that Africa's rising millionaire class poses both opportunities and challenges. «The rise in Africa's millionaire class is both a signal and a test. It signals that despite challenges, wealth is being created and retained in key markets. But it also tests the continent's ability to turn private wealth growth into broad-based economic transformation», said Jean Paul Fabri, Chief Economist at Henley & Partners.
