Wealth: how many millionaires in Morocco?

Morocco is ranked in the top 5 of private wealth in Africa. The country has 5,000 millionaires, 220 multimillionaires, 22 centimillionaires and three billionaires, with a total private wealth of $125 billion, ensuring a growth rate of 18% over the last ten years. 

Africa is one of the fastest growing markets in the world. The continent is home to several well-established wealth hubs, reports our colleagues Les inspirations ECO. Indeed, according to the latest figures published by Henley & Partners in the Africa Wealth Report 2022, Morocco, South Africa, Egypt, Nigeria and Kenya hold more than 50% of Africa’s private wealth. This ranks our country fourth in private wealth on the continent, with a total private wealth of $125 billion, ensuring a growth rate of 18% over the past ten years. The experts, who wrote this year’s report, say that “global wealth refers to the private wealth held by all individuals living in a country, including all their assets (property, money, stocks and business interests) minus any liabilities.

Moreover, we exclude public funds from our figures. In the details of Morocco’s ranking in terms of private wealth, it should be noted that the country has 5,000 millionaires, 220 multimillionaires, 22 centimillionaires and three billionaires. Morocco also ranked fifth after Botswana and ahead of Egypt, with a per capita wealth of 3,380 dollars. Note that Mauritius took first place in the wealth per capita ranking, with a 74% growth in wealth over the last 10 years.

In addition, the report forecasts that total private wealth in Africa is expected to grow by 38% over the next 10 years (2021-2031), reaching $3 trillion. The report placed Morocco in the medium growth category, and is expected to experience positive wealth growth of between 20% and 40% over the forecast period. The Africa Wealth Report is published annually by Henley & Partners, the world’s leading residency and citizenship by investment firm, in partnership with the South African business intelligence and wealth intelligence firm, New World Wealth. The report provides a comprehensive review of the wealth sector in Africa, including trends in high net worth individuals, the luxury market and wealth management on the continent.