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

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.

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 $US1 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%.

3. Zambia -- This copper-rich state, home to Victoria Falls, has seen its number of HNW individuals rise by 400% to 1,000.

Vadim Petrakov/Shutterstock

2. Ghana -- this west African state's economy thrived during the commodity boom, and the number of HNW individuals has grown by 440% since 2000 to 2,700.

Military personnel take part in a parade during a ceremony marking the 57th anniversary of Ghana's independence at the Independence Square in central Accra March 6, 2014.

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