Africa today boasts 25 billionaires, 348 centimillionaires and well over 120,000 millionaires.
South Africa remains by far the richest hunting ground: one in three African millionaires lives there, including eight of the continent’s 25 billionaires.
Egypt ranks second, followed by Morocco, Nigeria and Kenya.
The Africa Wealth Report, compiled by Henley & Partners, a London-based consultancy, points to broad stability in overall wealth numbers over the past decade.
However, the geography of affluence has shifted. Mauritius, Rwanda and Morocco have seen rapid growth in their millionaire populations, while Nigeria, Angola and Algeria have shed them.
Cities of fortune
At city level, South Africa again dominates. Johannesburg sits comfortably at the top, thanks to the corporate towers of Sandton and the luxury enclaves mushrooming in Waterfall-Midrand.
Yet the city has been losing ground to Cape Town, where the tally of millionaires has risen by a third over the past 10 years.
Henley & Partners also highlights four emerging hotspots.
Chief among them is Black River district in Mauritius, where the number of millionaires has more than doubled in a decade.
Marrakech comes next, up 67%, followed by the Whale Coast and the Cape Winelands, both in South Africa, with increases of 50% and 42% respectively.
(The Africa Report)
