A city with a metro population of more than five million is the richest in East Africa, with more than 4,000 millionaires, a report suggests. Henley Global’s “The Africa Wealth Report”, breaks down the African cities with the most millionaires, centi-millionaires (individuals with $100 million or more), and billionaires.
The Kenyan capital Nairobi ranked as the richest city in the continent’s east, with 4,400 millionaires, 10 centi-millionaires, but no billionaires. It was estimated to have seen 25% millionaire growth from 2013 to 2023. Three other East African cities made the list too, including the Tanzanian capital Dar Es Salaam, and the capital of Rwanda Kigali.
Johannesburg, South Africa’s most populace city, ranked top in the rankings with 12,300 millionaires, 25 centi-millionaires, and two billionaires, according to the British investment migration consultancy.
“Joburg” was followed by another South Africa metropolis, Cape Town, which was estimated to have 7,400 millionaires, 28 centi-millionaires and one billionaire.
The figures, which come from New World Health, were for December 2023, and include only “individuals living in each city (residents)”, the firm said.
Millionaire figures refer to net worth in USD are rounded to the nearest 100, Henley Global explained.
Nairobi is Kenya’s urban core, and is the nation’s principal industrial centre, and also plays an important role in the community of eastern African states, as per Brittanica.
The city is also surrounded by 70 square miles of plains, cliffs and forest that make up Nairobi National Park.
The vast reserve is famous for breeding endangered black rhinos, and is also home to giraffes, lions, leopards, and zebras.
Kenya’s economy is the largest in East Africa and has seen continued growth in GDP over the last few years.
As of 2020, the country was also estimated to have the third largest economy in Sub-Saharan Africa, behind only Nigeria and South Africa.
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