New World Wealth provides information on the global wealth sector, with a special focus on high growth markets. There are approximately 163,000 millionaires living in Africa (as of June 2015), with combined wealth holdings of US$670 billion. “Millionaires” or “HNWIs” refer to individuals with net assets of US$1 million or more. As evidenced in the below table, Johannesburg is the top African city for millionaires. There are also sizable millionaire populations living in Cairo, Lagos and Cape Town.
|Africa: Top cities for millionaires, 2015|
|City||Country||Number of millionaires, 2015|
|Cape Town||South Africa||8900|
|Dar Es Salaam||Tanzania||1200|
Among major cities for millionaires, Accra is expected to be the fastest growing going forward.
|Africa: Millionaire growth forecast by city, 2015 – 2025|
|City||Growth %||No. of millionaires, 2015||No. of millionaires, 2025|
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