Morocco is home to around 7,500 US-dollar millionaires, placing it third in Africa after South Africa and Egypt, according to the Africa Wealth Report 2025 published this week by Henley & Partners in collaboration with New World Wealth.
The study, released on August 26, indicates that South Africa accounts for 41,100 millionaires, or 34 percent of the continent’s total, while Egypt hosts 14,800. Morocco follows with 7,500, ahead of Nigeria with 7,200 and Kenya with 6,800.
Together, these five countries represent 63 percent of Africa’s millionaires and nearly 90 percent of its billionaires.
The report highlights Morocco’s solid trajectory over the past decade, with high-net-worth individuals increasing by 40 percent, one of the strongest growth rates on the continent.
Only Mauritius (+63 percent) and Rwanda (+48 percent) recorded faster expansions. The findings underscore Morocco’s resilience in consolidating its position as a key wealth hub despite regional and global economic pressures.
According to the report, Africa hosts 1.8 trillion US dollars in private wealth, and its millionaire population is expected to rise by 65 percent over the next ten years.
Morocco’s stable political environment, growing financial sector, and investments in infrastructure and renewable energy are identified by analysts as drivers of its ability to attract and retain wealth.
The report also notes that Africa’s wealthiest cities, led by Johannesburg, Cape Town and Cairo, are increasingly joined by emerging hubs such as Nairobi, Marrakech and Lagos.
Marrakech is highlighted as an expanding center for both luxury real estate and tourism-driven investment, further reinforcing Morocco’s status as a rising magnet for capital.
By situating Morocco among Africa’s “Big Five” wealth markets, the report positions the kingdom as a central player in the continent’s economic map, with sustained millionaire growth reflecting broader trends of diversification and regional integration.
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