An IMGW News Report
Africa, long viewed primarily as a source market for investment migration, is quietly pivoting to become a destination in its own right. As global interest in residency and citizenship by investment (RBI and CBI) diversifies beyond traditional hubs, a new narrative is taking shape – one in which Africa plays both sides of the table. With political polarisation deepening in the United States, economic uncertainty lingering in the United Kingdom, and the spectre of conflict unsettling parts of the European Union, investors are casting their gaze further afield in search of stability, opportunity, and long-term security.
“Forbes reports that the continent’s 22 billionaires now command a collective net worth of $105 billion, up from $82 billion the year prior.”
According to the Africa Wealth Report 2024 by Henley & Partners, African wealth has suffered recent erosion due to underperforming equities, sluggish property markets, and currency depreciation. Yet amidst these challenges, pockets of prosperity are flourishing. The so-called “Big Five” – South Africa, Egypt, Nigeria, Kenya, and Morocco – together account for over half of Africa’s high-net-worth individuals (HNWIs), while frontier markets such as Mauritius, Namibia, and Rwanda are registering the fastest millionaire growth rates in the world.
Looking ahead to 2033, Henley forecasts millionaire growth of over 80% in several African countries, with Mauritius projected to expand its HNWI population by 95%. Its favourable tax regime and political stability make it an attractive node for international investors. Namibia, buoyed by resource wealth and rising geopolitical relevance, is also courting global capital — and considering an RBI programme of its own.
Africa’s billionaire class, too, is growing. Forbes reports that the continent’s 22 billionaires now command a collective net worth of $105 billion, up from $82 billion the year prior. Nigeria’s Aliko Dangote remains the richest, while names from South Africa, Egypt, and Morocco dominate the list – many profiting from energy, finance, and consumer sectors.
The trend is unmistakable. African states are beginning to recognise the potential of investment migration not merely as a safety valve for outbound elites, but as a catalyst for domestic growth. In cities such as Cape Town and Grand Baie, luxury real estate now rivals European capitals in both pricing and appeal, offering lifestyle and capital security to international investors.
If managed transparently and with long-term strategy, Africa’s foray into RBI and CBI could unlock a virtuous cycle of capital inflows, job creation, and infrastructure investment. With demographic dividends and resource potential in abundance, the continent may be poised to reframe its role in the global investment migration landscape – not just as a supplier of wealth, but increasingly, as a host.
