South Africa, Nigeria to Lose 900 Millionaires to Migration in 2024 | Firstpost Africa

Despite wealth disparity being a hot-button issue across Africa, a report says the continent's millionaire population is set to increase by 65% in the next decade. Over half of Africa's millionaires and 90% of its billionaires live in just five countries: South Africa, Egypt, Nigeria, Kenya and Morocco. But many of these millionaires are migrating. They do not want to live in Africa anymore. While the number of millionaires across Africa is increasing, so is their outflow. According to Africa Wealth Report 2024, around 900 millionaires are projected to migrate to another country. Why are Africa's rich migrating? What are the top destinations for these millionaires who are migrating? Watch this video for details.

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