South African cities dominate in the number of millionaires, with 6 out of the top 10 wealthiest African cities

Johannesburg is home to the highest number of millionaires in Africa, with 11,700 individuals.
Six out of the top ten wealthiest African cities are located in South Africa.
Cairo leads North Africa with 6,800 millionaires, showing its dominance as a financial hub.
Nairobi has 4,200 millionaires, making it East Africa’s wealthiest city.
Lagos, with 3,600 millionaires, remains West Africa’s wealthiest city.
Lifestyle regions, such as the Cape Winelands and the Garden Route, feature prominently, reflecting the importance of property and lifestyle economies.
Casablanca, with 2,900 millionaires, underscores Morocco’s rising appeal as a North African wealth centre.

South African cities dominate the millionaire landscape in Africa, with six out of the top ten wealthiest cities located in the country. Johannesburg stands out with 11,700 millionaires, far ahead of any other city on the continent, while Cape Town follows with 8,500.

Beyond South Africa, cities like Cairo, Nairobi, and Lagos emerge as notable hubs of wealth, each representing the wealthiest centres in North, East, and West Africa, respectively. Cairo leads with 6,800 millionaires, reflecting Egypt’s role as a financial and cultural hub in North Africa. Nairobi’s 4,200 millionaires highlight Kenya’s growing appeal as an investment and innovation hub in East Africa, while Lagos, with 3,600 millionaires, signals Nigeria’s continued prominence as West Africa’s economic powerhouse despite infrastructural and policy challenges.

Source:

New World Wealth

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