South Africa’s Johannesburg tops Africa millionaires list

South Africa has the highest number of dollar millionaires in Africa, according to a new report.

According to a report by AfrAsia Bank and New World Wealth, Johannesburg alone, known as the “city of gold”, is home to 23,400 millionaires. South Africa has 30% of the total.

Egypt’s Cairo comes second with 10,200, with Nigeria’s Lagos third with 9,100.

The study defines millionaires as people with net assets worth at least $1m (£650,000).

It estimates there are close to 163,000 millionaires living in Africa, with a combined wealth of $670bn (£440bn).

Sandton, a Johannesburg business and shopping district is Africa's richest square mile

Sandton, a Johannesburg business and shopping district is Africa’s richest square mile

Source: BBC

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