Top 10 African cities with the highest number of millionaires

African millionaires tend to reside in major cities and economic hubs across the continent. These areas offer access to better infrastructure, business opportunities, and a higher standard of living.

Several factors contribute to a city's wellbeing and acceptability which includes safety and security with low crime rates and effective law enforcement being essential.

A desirable location, such as proximity to beaches or mountains, adds to a city's appeal. Others are good governance, including efficient and transparent local governments which are also crucial.

Apart from the social factors, for the ultra rich, these cities offer close proximity to the wealth source.

According to Henley and Partner's Insights into Africa's Wealthiest Cities report, South African cities overwhelmingly lead the way in hosting Africa's wealthiest individuals.

This is closely tied to the fact that a nation's economic influence plays a significant role in attracting investors.

Notably, South Africa currently boasts the continent's largest GDP and is expected to maintain this position as Africa's premier economy until 2027, as forecasted by the International Monetary Fund (IMF).

According to the report, the table below presents the 10 wealthiest cities and areas in Africa ranked by their number of resident millionaires (high-net-worth individuals - HNWIs)