Morocco currently hosts 7.5 billionaires, positioning itself among Africa’s leading five wealthy regions and one of the continent’s quickest-expanding centers, experiencing a 40% growth within the last ten years, as stated in the Africa Wealth Report 2025. Marrakech has become an emerging center, witnessing a 67% surge in individuals with substantial net worth.
Morocco has 7.5 billionaires, ranking it within Africa’s top five wealthiest regions together with South Africa, Egypt, Nigeria, and Kenya. This information comes from the latest report.
Africa Wealth Report 2025
which identifies and examines millionaires, multi-millionaires, and billionaires throughout the region, while monitoring the distribution and expansion of private wealth at the national and urban levels.
Morocco has become one of Africa’s most rapidly expanding centers for affluence, witnessing a 40% increase in its number of millionaires during the last ten years. According to a study released by Henley & Partners together with New World Wealth, this growth is attributed to Morocco’s political steadiness, robust exporting industries, and expansion into renewable energy and technological fields.
“As the EU and UK lose some of their appeal within the international elite scene, Africa may rise as a key location for affluent business leaders. Early indications suggest this shift is underway, with countries like Morocco, Mauritius, Namibia, and the Seychelles expected to experience significant influxes of wealth this year,” said Andrew Amoils, Head of Research at New World Wealth.
Morocco within the North African Framework
North Africa remains at the forefront of Africa’s private wealth scene, where Morocco, Egypt, and Algeria hold a substantial portion of the region’s wealthy individuals. Although Egypt tops the list with 14,800 millionaires, Morocco experiences consistent growth, whereas Algeria faces a 23% drop and Libya shows little change. Morocco’s position as an intermediary between Europe and Africa, along with its forward-thinking trade strategies and investment in infrastructure, has enhanced its attractiveness to both local and international investors.
Throughout the African continent, there are currently 25 billionaires, 348 centi-millionaires, and 122,500 individuals classified as millionaires—a significant increase compared to the late 20th century, which saw just a few billionaires. In the coming ten years, Africa’s number of millionaires is expected to rise by 65%, surpassing growth rates seen in Europe and the United States.
South Africa continues to lead in terms of wealth, boasting 41,100 millionaires, which accounts for 34% of the entire continent’s total. However, Mauritius has seen an increase of 63%, Rwanda rose by 48%, and Morocco grew by 40%, placing them among the quickest expanding economies, indicating a change in where wealth is being generated across Africa.
Prominent financial centers including Johannesburg, Cape Town, Cairo, and Nairobi continue to hold strong influence, yet Marrakech has emerged as one of Africa’s growing key areas, drawing investors similar to how South Africa’s Cape Winelands do. In reality, Marrakech has experienced a 67% rise in affluent individuals during the last decade.
Experts, nevertheless, caution that Africa’s growing group of millionaires presents both possibilities and difficulties. “The increase in Africa’s millionaire population serves as an indicator and a challenge. It indicates that, even with obstacles, money is being generated and kept within important markets. However, it also evaluates the continent’s capacity to convert private wealth expansion into widespread economic development,” stated Jean Paul Fabri, Head Economist at Henley & Partners.
