The report states that there are currently 138,000 HNWIs in Africa with investable wealth of $1 million or more, along with 328 centi-millionaires worth $100 million or more, and 23 US-dollar billionaires. South Africa is home to at least twice as many HNWIs as any other African country, accounting for 30% of the continent’s centi-millionaires. Egypt, on the other hand, accounts for the most billionaires.
According to a report by Henley & Partners in partnership with New World Wealth, private wealth in Africa amounts to $2.4 trillion, with five cities accounting for over 50% of the continent’s wealth. These cities include Johannesburg, Cairo, Cape Town, Lagos, and Nairobi, and they also account for 56% of the continent’s high-net-worth individuals (HNWIs).
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