Marrakech – Morocco has established itself as the third wealthiest nation in Africa, with an estimated 7,500 millionaires, according to the latest Africa Wealth Report 2025.
The country follows South Africa, which leads with 41,100 millionaires—making up 34% of Africa’s wealthy population—and Egypt, which has 14,800 millionaires. Nigeria and Kenya round out the top five with 7,200 and 6,800 millionaires, respectively.
Over the past decade, Morocco’s high-net-worth population has surged by 40%, ranking it among the fastest-growing wealth markets on the continent. Only Mauritius and Rwanda recorded stronger growth, at 63% and 48% respectively.
Morocco also counts 35 centi-millionaires (individuals with wealth above $100 million) and four billionaires. At the top is Othman Benjelloun, President and CEO of Bank of Africa Group, with a fortune estimated at $1.6 billion, followed by real estate mogul Anas Sefrioui.
Casablanca strengthens Morocco’s position in the continental rankings, standing ninth among African cities with 2,900 millionaires, including 11 centi-millionaires and one billionaire. Marrakech has also emerged as a fast-growing hub, ranking second in Africa for millionaire growth with a 67% increase over the last decade. The city now hosts 1,700 millionaires, 14 centi-millionaires, and two billionaires. Only Mauritius’ Black River district recorded stronger growth at 105%.
In contrast, several African countries have faced sharp declines. Nigeria’s millionaire population fell by 47%, while Angola and Algeria recorded drops of 36% and 23% respectively.
Overall, Africa’s wealth profile continues to shift. The continent currently counts 25 billionaires, 348 centi-millionaires, and 122,500 millionaires, reflecting significant growth since the late 20th century when economic stagnation limited the rise of wealthy elites. Projections suggest Africa’s millionaire population will expand by 65% over the next decade, driven by strong economic growth. Sub-Saharan Africa is forecast to grow by 3.7% in 2025 and 4.1% in 2026, outpacing Europe (0.7%) and the United States (1.4%).
Industry experts note that wealth migration is increasingly dynamic, with African investors seeking global opportunities while foreign investors identify Africa as a long-term growth destination. They stress, however, that wealth growth must be paired with inclusive prosperity to consolidate Africa’s role in the global economy.
Looking ahead, sectors such as fintech, eco-tourism, green technology, healthcare, and wealth management are expected to drive further growth. Marrakech, in particular, is set to remain a lifestyle and investment hotspot.
Morocco’s 40% rise in wealthy individuals reflects economic resilience, stronger investor confidence, and successful diversification strategies. As integration with global financial networks deepens, the country is poised to accelerate development in renewable energy, advanced manufacturing, and digital services—provided capital is directed toward productive investments.
This trajectory places Morocco firmly among Africa’s most influential economic players.