Omanghana
South Africa, Egypt, and Morocco have been named Africa’s top private wealth hubs in Knight Frank’s The Wealth Report 2026, underscoring their growing importance in the continent’s wealth landscape.
The annual report ranks countries based on the number of Ultra-High-Net-Worth Individuals (UHNWIs)—people with a personal net worth of at least $30 million, excluding the value of their primary residence.
South Africa Remains Africa’s Wealth Capital
South Africa continues to lead the continent, ranking 37th globally with 1,347 Ultra-High-Net-Worth Individuals.
According to the report, the country’s ultra-wealthy population is expected to grow steadily over the coming years, reaching approximately 1,564 UHNWIs by 2031, reinforcing its position as Africa’s largest private wealth center.
Egypt Strengthens Its Position
Egypt secured 42nd place globally, with 822 individuals meeting the ultra-high-net-worth threshold.
Knight Frank projects continued growth in Egypt’s affluent population, forecasting that the number of UHNWIs will increase to 977 by 2031, reflecting the country’s expanding investment and business opportunities.
Morocco Records Strong Growth
Morocco ranked 44th worldwide, with 432 Ultra-High-Net-Worth Individuals.
The North African nation has experienced one of the continent’s fastest increases in private wealth, recording an impressive 41.6% growth in its ultra-wealthy population since 2021. The rapid expansion highlights Morocco’s growing appeal as a destination for investment and wealth creation.
Africa’s Leading Wealth Centers
The report notes that South Africa, Egypt, and Morocco—alongside Nigeria and Kenya—account for the majority of Africa’s private capital concentration. These countries continue to serve as the continent’s principal hubs for high-net-worth individuals, investment activity, and wealth generation.
Global Wealth Still Concentrated in the U.S. and China
Despite Africa’s growing wealth base, the global distribution of ultra-high-net-worth individuals remains heavily concentrated in the world’s two largest economies.
The United States, ranked first globally, and China, ranked second, together account for approximately 55% of the world’s Ultra-High-Net-Worth Individual population, maintaining their dominant position in global private wealth.
Knight Frank’s The Wealth Report 2026 highlights both the expanding influence of Africa’s leading wealth markets and the significant opportunities that remain for further growth across the continent.
Source: Omanghana
