There are 52 African-born billionaires globally, and only 23 of them still live on the continent, according to the Henley & Partners Africa Wealth Report for 2023. South Africa, Egypt, Nigeria, Kenya, and Morocco account for 56% of Africa's high-net-worth individuals. African billionaires are migrating, affecting the ability of countries on the continent to create employment, according to the Henley & Partners Africa Wealth Report for 2023. The top 10 countries that have the most millionaires in Africa are: South Africa, Egypt, Nigeria, Kenya, Morocco, Mauritius, Algeria, Ethiopia, Ghana, and Tanzania. The rich like spending their wealth in vibrant cities and according to the report, South African cities are the most preferred - they are in the top 10 wealthiest places in Africa.

Source: News 24 April 15, 2023 03:59 UTC