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Top 10 African Countries with the Most Millionaires

Bologhine-upscale-suburb-Algiers10. Algeria– 4,100 Millionaires

With a socialist-leaning government and a population of 38.8 million, Algeria has produced 4,100 millionaires, according to a report by AfrAsia Bank and New World Wealth. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60 percent of budget revenues, 30 percent of GDP, and over 95 percent of export earnings. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter.

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9. Morocco- 4,900 Millionaires

Morocco boasts a stable economy marked by steady growth, low inflation and gradually falling unemployment. The North African country has 4,900 millionaires out of a population of 33 million, according to the New World Wealth report. Key sectors of the economy include agriculture, tourism, phosphates, textiles, apparel and subcomponents.

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