Africa presently possesses investable wealth totaling USD 2.5 trillion, and it anticipates a 65% increase in its millionaire population within the next decade. We bring you the 10 richest cities in Africa.
- We present the 10 richest cities in Africa in 2024
- The list is from Henley and Partners
- Johannesburg is currently the richest city in Africa with 12,300 millionaires and 2 billionaires.
A new report by Henley & Partners’ 2024 Africa Wealth Report shows that Africa has 135,200 rich people with more than $1 million to invest. There are also 342 very rich people, called centi-millionaires, who have $100 million or more, and 21 billionaires.
Among the 10 richest cities in Africa, called the ‘Big 5’ wealth markets, are South Africa, Egypt, Nigeria, Kenya, and Morocco. Together, they have 56% of Africa’s millionaires and more than 90% of its billionaires.
In big cities across Africa, Johannesburg is the richest, with 12,300 millionaires, 25 very rich people, and 2 billionaires. Next is Cape Town, with 7,400 millionaires, 28 very rich people, and 1 billionaire. Other cities like Cairo, Nairobi, and Lagos also have lots of wealthy people.
A person named Andrew Amoils, who works at a company that studies rich people, says some cities and areas will attract even more millionaires in the future. These places include Cape Town, a place in South Africa called the Whale Coast, Kigali, Windhoek, Swakopmund, Nairobi, Tangier, and Marrakech. They could see more than 85% more millionaires in the next 10 years.
Andrew thinks that Cape Town might become richer than Johannesburg by 2030. He believes that many big companies from Johannesburg will move to Cape Town, which will make more people there richer.
| Country | City | Country | Centi-millionaires (USD 100m+) | Billionaires (USD 1bn+) | Billionaires(USD 1bn+) |
| 1 | Johannesburg | South Africa | 12300 | 25 | 2 |
| 2 | Cape Town | South Africa | 7400 | 28 | 1 |
| 3 | Cairo | Egypt | 7200 | 30 | 4 |
| 4 | Nairobi | Kenya | 4400 | 10 | 0 |
| 5 | Lagos | Nigeria | 4200 | 12 | 2 |
| 6 | Cape Winelands | South Africa | 3600 | 16 | 2 |
| 7 | Durban | South Africa | 3500 | 11 | 0 |
| 8 | Garden Route | South Africa | 3200 | 5 | 0 |
| 9 | Casablanca | Morocco | 2800 | 10 | 1 |
| 10 | Pretoria | South Africa | 2100 | 2 | 0 |