Wealth Report Projects Namibia’s Millionaire Population Set to Surge

Namibia is expected to see a surge in its millionaire population, with projections suggesting an addition of 2,000 millionaires over the next decade, marking an 85% increase from the current 2,300 millionaires. This growth is attributed to Namibia’s status as one of Africa’s top 10 wealthiest nations, attracting investments and high-net-worth individuals. As of December last year, there were approximately 2,300 individuals in Namibia with wealth exceeding US$1 million, and the country witnessed a 32% increase in its millionaire population from 2013 to 2023. The findings are from the Africa Wealth Report 2024 released by Henley & Partners.