Morocco recorded the fastest growth in high-net-worth individuals of any African country in 2025, with its millionaire population expanding by 16.8 percent over the year, according to the 30th edition of Capgemini Research Institute’s World Wealth Report, published on 4 June 2026. The finding places Morocco well ahead of comparable markets on the continent and reflects a combination of institutional stability, export sector dynamism, and a broadening entrepreneurial base.
The report paints a picture of robust global wealth creation. The worldwide population of high-net-worth individuals — those with at least one million dollars in investable assets excluding primary residence — reached 25.3 million in 2025, an increase of nearly two million in a single year, while aggregate wealth hit a record 98,300 billion dollars, up 8.7 percent and representing the strongest annual progression since 2018. The principal driver was equity markets, buoyed by artificial intelligence-related expectations and resilient corporate earnings. Within this global expansion, Africa recorded 7 percent wealth growth and 4.1 percent growth in the number of millionaires, placing the continent third globally behind Asia-Pacific and Europe.
Morocco’s 16.8 percent figure stands out within the African context, where wealth growth has largely been concentrated among those already wealthy rather than among new entrants to the millionaire cohort. The Capgemini report suggests Morocco may be bucking this trend, with a broadening base of beneficiaries that includes emerging entrepreneurs, senior executives, and liberal professionals benefiting from the country’s structural transformation. Morocco’s three billionaires listed in the Forbes 2026 ranking — Othman Benjelloun, Aziz Akhannouch, and Anas Sefrioui — with combined fortunes exceeding 4.7 billion dollars, provide the upper anchor of a wealth pyramid that appears to be widening at its base.
The report also sets out a challenge that Morocco’s growth trajectory directly creates. Globally, traditional wealth management institutions lost an estimated 1,500 billion dollars in new assets between 2022 and 2025 to family offices, digital wealth platforms, and robo-advisory services. Only 17 percent of wealthy individuals describe their advisory experience as seamless and personalized, and the proportion using a single financial institution has halved since 2019. As Morocco’s millionaire cohort expands, local financial institutions face pressure to provide sophisticated services — particularly access to alternative assets such as private equity — or risk seeing newly created wealth migrate to more capable offshore centers.
Capgemini identifies augmented intelligence — technology that sharpens human judgment rather than replacing it — as the central tool for wealth managers seeking to personalize services at scale. For Moroccan institutions, the competitive advantage may lie in cultural proximity: deep knowledge of Islamic succession law, family group structures, and attachment to agricultural and real estate assets represents expertise that international platforms cannot easily replicate. Converting that advantage into a competitive offer, however, will require significant investment in data integration and client experience infrastructure.