Johannesburg, the financial capital of South Africa, has emerged as the wealthiest city on the African continent with the most HNWI (high-net-worth individuals).
This is according to the 2024 Africa Wealth Report, a publication by Henley & Partners, an international wealth advisory firm, produced in collaboration with New World Wealth, a global wealth intelligence partner.
As Africa’s wealthiest city, Johannesburg is home to 12 300 millionaires, 25 centi-millionaires, and two billionaires.
Holding the second spot is Cape Town. South Africa’s legislative capital follows Johannesburg closely with 7 400 millionaires, 28 centi-millionaires, and one billionaire.
Rounding up the top five wealthiest cities in Africa are the Egyptian capital Cairo with 7 200 millionaires, followed by Nairobi with 4 400 millionaires, and Lagos with 4 200 millionaires.
These cities all stand out…