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African countries with the most billionaires in 2024

The boom of African billionaires is a watershed moment in the continent's economic history, showcasing the potential for growth, wealth, and development. While some challenges may persist, the success stories of African billionaires inspire hope and optimism by demonstrating the transformational potential of entrepreneurship, innovation, and investment. The importance of these individuals cannot be overstated.

African countries with the most billionaires in 2024
  • Business Insider Africa presents the African countries with the most billionaires in 2024.
  • This list is courtesy of Forbes.
  • South Africa has the highest amount of billionaires.
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In recent years, Africa has seen an increase in the number of billionaires, indicating the continent's expanding economic potential and opportunity.

In this regard, some countries boast more high net-worth individuals than others, countries that have become a hub for economic activities and innovation on the continent.

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While not without its challenges, these countries continue to lay the blueprint for Africa’s path to thorough prosperity.

These billionaires also enhance Africa's reputation as an emerging economic powerhouse, attracting foreign investment, partnerships, and talent eager to capitalize on the continent's potential.

Other advantages of having a good number of high-net-worth individuals include the creation of jobs via their enterprises and the distribution of wealth via their philanthropic activities.

Additionally, billionaires frequently fund research and development, and startup ecosystems to spur technical advancement and increase competitiveness in the market.

With that said, here are the African countries with the highest number of billionaires, according to Forbes.

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Rank Country Number of billionaires Billionaires
1. South Africa 6 Johann Rupert and family, Nicky Oppenheimer & family, Patrice Motsepe, Koos Bekker, Michiel Le Roux, Christoffel Wiese
2. Egypt 5 Nassef Sawiris, Mohamed Mansour, Youssef Mansour, Yasseen Mansour, Naguib Sawiris,
3. Nigeria 4 Aliko Dangote, Mike Adenuga, Femi Otedola, Abdulsamad Rabiu
4. Morocco 2 Aziz Akhannouch & family, Othman Benjelloun & family

Algeria, Eswatini, Zimbabwe, and Tanzania all have 1 billionaire each.

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