Morocco Ranks Third in Africa with 7,500 Millionaires and 40% Growth Over the Past Decade

The “African Wealth Report 2025”, published by Henley & Partners in collaboration with New World Wealth, reveals that Morocco has emerged as the third wealthiest nation in Africa in terms of millionaire population, behind South Africa and Egypt.

According to the report, the kingdom is home to 7,500 individuals with a net worth exceeding USD 1 million, surpassing Nigeria (7,200) and Kenya (6,800). Collectively, these five countries account for 63% of Africa’s millionaires and 88% of its billionaires. Within Morocco, the study also recorded 35 individuals with fortunes above USD 100 million and four billionaires.

Remarkable Wealth Growth

The report highlights a 40% increase in Morocco’s high-net-worth population over the past decade, ranking among the fastest growth rates on the continent. Only Mauritius (+63%) and Rwanda (+48%) recorded stronger performances. By contrast, major resource-rich countries witnessed sharp declines, including Nigeria (-47%), Angola (-36%), and Algeria (-23%).

Marrakech: A Magnet for Wealth

According to Andrew Amoils, Head of Research at New World Wealth, Moroccan cities such as Marrakech have become highly attractive destinations for wealthy individuals, driving new waves of luxury investment. This growing appeal reinforces Morocco’s position as a leading investment hub, particularly in luxury real estate, high-end tourism, and financial services.

African Outlook

Across the continent, the study forecasts a 65% surge in the number of millionaires over the next decade. Africa currently counts 25 billionaires, 348 centi-millionaires (worth over USD 100 million), and 122,500 millionaires.

With this momentum, Morocco continues to strengthen its role as a financial and economic hub in North Africa, confirming its rising attractiveness to global investors and wealthy individuals.