Africa’s wealthiest cities are dominated by South Africa and Egypt, according to the World’s Wealthiest Cities 2023 report by consultancy New World Wealth and Henley Partners.
According to the report, Johannesburg leads Africa with 14,600 dollar millionaires. The second spot was Cairo with 7,800 HNWIs.
South Africa’s second-largest city, Cape Town, emerged third in the continent with 7,200 millionaires, followed by Nigeria’s Lagos city, which has 5,400 HNWI.
Kenya’s capital city, Nairobi, was ranked as the 74th wealthiest city globally and fourth in Africa.
Nairobi has 4,700 highly wealthy individuals with at least $1 million in net worth, and 11 centi-millionaires.
Mombasa emerged 93rd in the global wealth ranking.
The World’s Wealthiest Cities Report 2023 includes HNWI population data for 97 cities across the world, as well as HNWI growth stats for the past decade (2012 to 2022) along with seasonal hotspots for centi-millionaires (those individuals with investable wealth of USD 100 million or more).
The world’s wealthiest cities in 2023
1. New York City, US
2. Tokyo, Japan
3. The Bay Area, US
4. London, UK
5. Singapore
6. Los Angeles, US
7. Hong Kong
8. Beijing, China
9. Shanghai, China
10. Sydney, Australia
11. Chicago, US
12. Toronto, Canada
13. Frankfurt, Germany
14. Zurich, Switzerland
15. Houston, US
16. Seoul, South Korea
17. Melbourne, Australia
18. Paris, France
19. Geneva, Switzerland
20. Dubai, UAE
Nairobi, Only African City in Knight Frank’s Q3 Prime Global Cities Index
