Africazine:
South Africa, Egypt, and Morocco are emerging as key hubs for ultra-high-net-worth individuals in Africa.
According to Knight Frank’s The Wealth Report 2026, South Africa leads the continent with 1,347 ultra-high-net-worth individuals (UHNWIs) in 2026, projected to rise to 1,564 by 2031. Egypt follows with 822 UHNWIs, while Morocco has 432, both expected to grow in the coming years.
South Africa Leads Africa in Ultra-Wealthy Population
South Africa’s position as the top country for UHNWIs in Africa is significant. The country ranks 37th globally, showcasing its robust wealth generation capabilities. The projected increase in UHNWIs reflects a growing trend of wealth accumulation within the nation.
Egypt and Morocco are also making strides in this area. With 822 and 432 UHNWIs respectively, both countries are set to enhance their status as wealth centers in Africa. This growth indicates a broader trend of wealth concentration across the continent.
South Africa: Key figures on ultra-high-net-worth individuals
- 1,347 UHNWIs in 2026
- 1,564 projected UHNWIs by 2031
- 822 UHNWIs in Egypt
- 432 UHNWIs in Morocco
Growth Trends in Africa’s Wealth Spectrum
The report highlights a significant global increase in UHNWIs, with numbers rising from 551,435 in 2021 to 713,626 in 2026. This growth is largely driven by the United States, which accounted for 41% of newly created UHNWIs during this period.
As South Africa, Egypt, and Morocco continue to expand their ultra-wealthy populations, they are positioning themselves as vital players in the global wealth landscape. This trend reflects a shift towards greater wealth concentration in Africa.
Future Projections for Wealth Growth
- South Africa’s UHNWIs expected to reach 1,564 by 2031
- Egypt and Morocco anticipated to grow their UHNWIs
South Africa, Egypt, and Morocco are solidifying their roles as Africa’s wealth hubs.
