South Africa, Egypt, Nigeria, Kenya, and Morocco account for 56% of the continent’s millionaires

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Lerato Mbele speaks to Andrew Amoils, Head of Research at New World Wealth. The latest African Wealth Report for 2024 shows that South Africa has continued to bleed millionaires, with 400 wealthy individuals calling it quits on the country or losing their millionaire status in 2023, adding to the thousands lost over the last decade and shows that South Africa had 37,400 high-net-worth individuals at the end of 2023.

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