Investment migration consultancy Henley & Partners has published its annual ranking of African cities with the most wealthy residents in its Africa Wealth Report, in collaboration with New World Wealth.

The report provides a comprehensive review of private wealth in Africa, including trends in high-net-worth individuals, luxury and wealth management, as well as expert insights on investing in Africa, the migration sector investment and economic mobility on the continent.

The following ranking is based on the number of millionaires (in US dollars) living in these cities:


Johannesburg (14,600)

The city of Johannesburg, established during the Witwatersrand Gold Rush of 1886, holds the title of being the richest city in Africa. Its affluence is primarily centered in Sandton, where the JSE, the biggest stock exchange on the continent, and the headquarters of many major African banks and corporations are located. The city's principal industries consist of financial services, encompassing banks, and professional services, such as law firms and consultancies.

Cairo (7,400)

Situated on the banks of the Nile River, Cairo holds significant historical importance and is renowned as one of the most crucial cities globally. It also boasts the highest number of billionaires of any other African city. Cairo's primary industries encompass financial services, telecommunications, retail, tourism, and basic materials.

3. Cape Town (7,200)

The urban center boasts Africa's most luxurious neighbourhoods, namely Clifton, Bantry Bay, Fresnaye, Llandudno, Camps Bay, Bishopscourt, and Constantia. These areas have the highest prime residential rates on the continent, comparable to cities like Washington, D.C., or Berlin. Additionally, the city is host to top-end lifestyle estates like Steenberg, Atlantic Beach, and Silverhurst Estate. The major industries thriving in the area are real estate and fund management

4. Lagos (5,400)

With regard to its population, Lagos stands as the most populous city in Africa and serves as the primary economic centre for West Africa. The affluent neighbourhoods of Lagos consist of lkoyi and Victoria Island. The major sectors of the city's economy include basic materials, oil and gas, transportation, and financial services.

5. Nairobi (4,700)

One of the world's fastest-growing cities, Nairobi serves as the economic hub of East Africa. Some of its affluent areas are Runda Estate, Lavington, Kitisuru, Karen, and Muthaiga. Nairobi's major industries comprise financial services, real estate, tourism, media, clothing, textiles, processed foods, beverages, and cigarettes.

**6. Durban (3,600)
**

7. Casablanca (2,800)

8. Pretoria (2,400)

9. Accra (2,000)

10. Luanda (1,800)

https://www.google.com/amp/s/www.africanews.com/amp/2023/04/04/top-10-richest-cities-in-africa/

Base on Nigeria's population and size of our GDP, we are performing badly

South Africa with less than 60 million people have close to 30k wealthy individuals living in 3 cities.

Removed lagos from that list

Lagos na slum

We can still do better.

And please, all these obi people should stop this format of “ I am Yoruba but…”
That format don cast, please invent a new one

Ok

T

Anambra

Nigeria is the most retrogressive nation on earth. The Lagos that managed to be here is the efforts of foreign investors and all Nigerians that are there investing and doing their businesses, left for the chest beaters and cowards who run from Fulanis herdsmen their master who kills them with reckless abandoned, instead of facing them, they'll rather face igbos and south southerners, Lagos would've been no difference from other south west states, it would've even be poorer.

Nnewi no dey there?

The mandate of Nnewi must be returned.

Local town claiming city.

I love Lagos

South Africa will always top the chart. I give it to them when it comes to technological innovation, industrial growth and infrastructure.

Ikaeniyan0:
Base on Nigeria's population and size of our GDP, we are performing badly

South Africa with less than 60 million people have close to 30k wealthy individuals living in 3 cities.

Don’t forget the white privilege.
Most of the richest people in South Africa are whites and they enjoy foreign investment because of their white privilege

Can you compare Lagos to the mentioned cities via infrastructural development

The major sectors of the city's economy include basic materials, oil and gas, transportation, and financial services.

Igbos are very important in Lagos

https://www.youtube.com/watch?v=OFDnzY3dEEA

Dbull on this one!!!


One day just one day, I believe I will perform in all those cities!

Insha allah

Ok

Not far from the Truth

Abuja nko

Abi million dollars millionaires no plenty there to make Abuja among the top 10?

Justthinkingoutloud

I'm looking for Nnewi or at least Onitsha, but it's missing ...

Am I the only one looking for ONITSHA OR Nnewi on the list?

Ikaeniyan0:
Base on Nigeria's population and size of our GDP, we are performing badly

South Africa with less than 60 million people have close to 30k wealthy individuals living in 3 cities.

And you believe this rubbish data? Data as old as 10yrs and was even still fake then. People with houses just in lagos worth over 500million naira are more than thirty thousand. In short in every local government area in lagos there are 2,000 persons with a net worth of over $1million. Stop believe rubbish data

The way I dey find Anambra for the list ....

Lagos

Our pride

Onitsha, Aba, even Abuja missing from the list

Lagos should be part of the list at the number 1 spot because it got the potential of reaching that status, if you disagree, simply just check out the link on my signature of the big gen for sale.

Throwback:
Nnewi no dey there?

The mandate of Nnewi must be returned.

Local town claiming city.

I'm not sure u will make heaven

Hmmmmmmm

Where’s Nnewi

G

Where is onitsha and aba ?

Na lie, na Katsina be the number one