The top 10 wealthiest cities in Africa have been revealed, and one country dominates the list.
Henley and Partners, a strategic advisor to sovereign states, put together a list of the cities on the continent with the most millionaires, centi-millionaires (those with over $100m) and billionaires as of December last year.
It also calculated the growth – or decline – in millionaires over a 10-year period from 2013.
South Africa was the standout country with six cities on the list. Johannesburg topped the rankings with over 12,000 millionaires, 25 centi-millionaires, and two billionaires, according to the report.
Most of Johannesburg’s wealth is centred in Sandton, an upscale area often branded “the richest square mile in Africa”.
Sandton is home to luxury shopping centres, five-star hotels, and Africa’s largest stock market: the Johannesburg Stock Exchange (JSE).
Cape Town was a distant second with 7,400 millionaires, 28 centi-millionaires and one billionaire, with millionaire growth of 20%, according to the figures, source from New World Health.
The statistics, which only includes individuals living in each city, also named Cape Winelands (region), Durban, Umhlanga & Ballito, The Garden Route (region), South Africa, and Pretora – all of which are in South Africa.
Lagos, in Nigeria, Africa’s most populated city, came fifth on the list with over 4,000 millionaires. The Egyptian and Keyan capitals Cairo and Nairobi also made the top five.
The Millionaire figures are rounded to nearest 100, with the fortunes estimated in USD.
1. Johannesburg, South Africa
– Millionaires: 12,300
– Centi-millionaires: 25
– Billionaires: 2
Millionaire growth: -44%
2. Cape Town, South Africa
– Millionaires: 7,400
– Centi-millionaires: 28
– Billionaires – 1
Millionaire growth: 20%
3. Cairo, Egypt
– Millionaires: 7,200
– Centi-millionaires: 30
– Billionaires: 4
Milionaire growth: -21%
4. Nairobi, Kenya
– Millionaires: 4,400
– Centi-millionaires: 10
– Billionaires: 0
– Milionaire growth: 25%
5. Lagos, Nigeria
– Millionaires: 4,200
– Centi-millionaires: 12
– Billionaires: 2
– Milionaire growth: -48%
6. Cape Winelands (region), South Africa
– Millionaires: 3,600
– Centi-millionaires: 16
– Billionaires: 2
– Milionaire growth: 28%
7. Durban, Umhlanga & Ballito, South Africa
– Millionaires: 3,500
– Centi-millionaires: 11
– Billionaires: 0
– Milionaire growth: -10%
8. The Garden Route (region), South Africa
– Millionaires: 3,200
– Centi-millionaires: 5
– Billionaires: 0
– Milionaire growth: 32%
9. Casablanca, Morocco
– Millionaires: 2,800
– Centi-millionaires: 10
– Billionaires: 1
– Milionaire growth: 24%
10. Pretoria, South Africa
– Millionaires: 2,100
– Centi-millionaires: 1
– Billionaires: 0
– Milionaire growth: -30%
You can find the full top 20 list here.
