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.

marrakech morocco

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.

Democracy needs journalism it can trust.

This election season, the stakes are higher than usual — and so is the pressure on newsrooms to soften their coverage, stay quiet, or just disappear. Independent reporting, the kind that answers to readers instead of advertisers or political pressure, matters more in a moment like this, not less.

For over 14 years, Atlanta Black Star has stayed independent and reader-funded. We have no corporate owner and no shareholders telling us what to cover or how to cover it. That independence is also our biggest vulnerability: nothing protects it except readers choosing to fund it directly.

Newspaper ad revenue has fallen more than 80% since 2005, and local newsrooms are closing at a rate of roughly two a week nationwide. When outlets go under in a moment like this, it's rarely the independent, reader-funded ones that get to stick around.

We know a request for support isn't why you came here. But without readers choosing to fund this work directly, the depth of reporting we can do at home and abroad shrinks along with everyone else's. If you're not in a position to give, that doesn't change how much we value you as a reader.

If you are able to, a recurring contribution does more for us than a single one-time gift, because it lets us plan the next investigation instead of just the next invoice. It takes about 30 seconds, no long form, no account. Thank you for continuing to support independent journalism and freedom of the press.

Back to top