Africa Led the World in Millionaire Growth in 2025, Lifted by Precious Metals

The number of Africans holding at least one million dollars in investable assets grew by more than 4 percent in 2025, Africanews reported, citing the consultancy Capgemini. The figure, which excludes a person's primary residence, outpaced the Middle East, where the wealthy population contracted.

The report identified higher precious-metal prices as a key driver of wealth creation across the continent, according to coverage of the findings. The report said Morocco recorded the fastest growth on the continent. The African gains came within a broader global picture in which the wealth of high-net-worth individuals reached 98.3 trillion dollars and the global millionaire population grew by nearly two million, supported by strong equity markets and gains in technology stocks linked to artificial intelligence.

The role of gold and silver points to a sound-money dynamic. When the value of paper currencies erodes, hard assets that cannot be printed tend to appreciate, and those holding them gain in measured wealth. The concentration of new wealth at the top, driven by rising asset prices rather than broad wage gains, is a familiar feature of an era of loose money and asset inflation.