The article includes a detailed analysis of African private wealth, covering developments in high-net-worth people, luxury, and wealth management, as well as expert thoughts on investing in Africa, migration sector investment, and economic mobility on the continent.


The following cities are ranked according to the number of millionaires (in US dollars) who live there:

Johannesburg (14,600 people)

The city of Johannesburg, founded during the Witwatersrand Gold Rush in 1886, is the richest metropolis in Africa. Its wealth is concentrated mostly in Sandton, home of the JSE, Africa's largest stock market, as well as the headquarters of several major African banks and enterprises. The city's main sectors are financial services, which include banks, and professional services, which include law companies and consultancies.

Cairo (7,400)

Cairo, one of the most important cities in the world, is located on the banks of the Nile River and has a rich historical background. Of all the African cities, it also has the greatest concentration of millionaires. Financial services, telecommunications, retail, tourism, and basic materials are Cairo's main sectors.

Cape Town (population 7,200)

Clifton, Bantry Bay, Fresnaye, Llandudno, Camps Bay, Bishopscourt, and Constantia are among Africa's most affluent districts. These places have the highest premium residential rates on the continent, rivalling cities like as Washington, D.C. and Berlin. Furthermore, the city is home to high-end lifestyle estates such as Steenberg, Atlantic Beach, and Silverhurst Estate. Real estate and investment management are two of the most important sectors in the area.

Lagos (5,400)

In terms of population, Lagos is the most populous city in Africa and the key economic hub for West Africa. Lagos' upscale areas include lkoyi and Victoria Island. The city's key economic sectors are basic materials, oil and gas, transportation, and financial services.

Nairobi (4,700).

Nairobi, one of the world's fastest-growing cities, serves as East Africa's economic powerhouse. Runda Estate, Lavington, Kitisuru, Karen, and Muthaiga are some of its more wealthy neighbourhoods. Financial services, real estate, tourism, media, clothes, textiles, processed foods, drinks, and cigarettes are among Nairobi's significant sectors.

6. Durban (3,600)

7. Casablanca (2,800)

8. Pretoria (2,400)

9. Accra (2,000)

10. Luanda (1,800)