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Africa's millionaire explosion: The 16 countries where the ultra-wealthy are booming

Aug 7, 2015, 15:31 IST

A Nigerian man looks at a vehicle by German carmaker Porsche in Lagos March 14, 2012.REUTERS/Monica Mark

Africa's wealthy elite is expanding at a dramatic pace. In fact, according to a report by New World Wealth, the number of African millionaires has risen at twice the pace of the rest of the world in the last 15 years.

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Though huge parts of Africa remain locked in extreme poverty, it's impossible to miss the emergence of ultra-wealthy individuals.

Here we've included the nations where the number of HNWI (high net worth individuals) has risen by more than 100% in the 15 years between 2000 and 2014. New World Wealth defines HNWIs as people with net assets of $1 million (£645,000) or more.

Overall in Africa, the number of HNWIs has risen by 145% over the period, while the world in general has seen an increase of 73%.

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