Morocco among the African countries with the most private fortunes

Morocco is one of the richest countries in Africa in terms of individual fortunes. This is what the new “African Wealth” report from the British firm Henley & Partners who investigated the state of private wealth in the black continent. The said report ranks the Kingdom in fourth place on the scale of African countries with the most millionaires and billionaires. Our country, alongside South Africa, Egypt, Nigeria and Kenya alone concentrate 2,100 billion dollars in terms of private fortunes, or 50% of Africa’s fortunes. These will tend to increase in the years to come. The report estimates that they will increase by 38% in the next ten years. Currently, 136,000 African personalities have been able to amass a fortune estimated at 1 million dollars or more, specifies the same source.

In Morocco, the total wealth of high net worth individuals is estimated at $125 billion, second only to Nigeria and ahead of Kenya. Casablanca ranks atop the wealthiest cities in the Kingdom, home to 135 millionaires and billionaires with a total wealth of $43 billion. On the African scale, the economic capital is in eighth place behind Johannesburg, Cape Town, Cairo, Nairobi and Pretoria. At the national level, the metropolis is well ahead of Marrakech and Tangier, which have 36 and 33 millionaires and billionaires respectively.

In terms of capital per capita, Morocco is in fifth place with 3380 dollars. The last decade has been marked by strong growth in private wealth in Morocco, which has increased by 18% while that of the black continent which has fallen by 7%.