Top 5 African countries with the highest number of billionaires

Algeria and Zimbabwe

Algeria, Zimbabwe, and Tanzania closed the list with one billionaire each – Issad Rebrab from Algeria ($4.6 billion), Strive Masiyiwa from Zimbabwe ($1.9 billion), and Mohammed Dewji from Tanzania ($1.5 billion).

In all, Egypt and South Africa have more billionaires, and South Africa has more wealthy individuals and is home to over twice as many millionaires as any other African country. African billionaires amass fortunes from diverse business interests and place value on building family generational wealth and lasting legacies. With private wealth in Africa projected to rise by 38% over the next decade, Africa will likely attract more investment in different sectors of the economy.

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“The rise of frontier economies and megacities along with the diversification of wealth-creating sources are just some of the trends driving the creation, flow, and preservation of capital across the continent – Vusi Thembekwayo, CEO, MyGrowthFund Venture Partners.