At a Glance
- Africa’s richest cities anchor rapid economic expansion powered by billionaires and diverse industries.
- Wealth hubs across Africa attract global investors through strong infrastructure and innovation clusters.
- Growing millionaire populations highlight rising prosperity and shifting economic power across major cities.
Africa’s richest cities are emerging as powerful engines of economic growth, driven by clusters of billionaires, centi-millionaires, and thousands of millionaires who anchor major industries across the continent.
These cities, from Johannesburg and Cape Town to Cairo, Lagos, and Nairobi, are becoming global hubs for finance, technology, real estate, and investment.
As wealth continues to concentrate in key urban centers, Africa is rapidly reshaping its economic influence, attracting investors, talent, and multinational businesses.
Today, Africa is rapidly emerging as a formidable global economic force. Nearly thirty billionaires now call the continent home, while its cities evolve into dynamic centers of entrepreneurship, technological advancement, and industrial expansion.
This transformation is powered by strategic investments in infrastructure, groundbreaking technology, and the leadership of ultra-high-net-worth individuals driving key business sectors across the continent.
Shore Africa’s selection criteria focus on the concentration of billionaires, centi-millionaires, and millionaires within these urban areas.
By spotlighting the top twenty wealthiest cities, Shore Africa celebrates their pivotal role in shaping Africa’s prosperity and elevating its influence on the global stage.
1. Johannesburg, South Africa
Billionaires : Patrice Motsepe and Michiel Le Roux
Centi-millionaires : 25
Millionaires :12,300
Regularly cited as the wealthiest city in Africa, Johannesburg as a financial hub for Africa, sees its economy bolstered by industries such as mining, finance, and manufacturing. The Johannesburg Stock Exchange (JSE), one of the largest in the world with a total market capitalization of R22.3 trillion ($1.26 trillion), is headquartered here. With a well-developed transport network and modern amenities, Johannesburg offers an unparalleled quality of life, making it one of the most affluent cities on the continent.
2. Cape Town, South Africa
Billionaires: Nicky Oppenheimer
Centi-millionaires: 28
Millionaires: 7400
Cape Town is renowned for its stunning landscapes, vibrant culture, and robust economy. The city’s economic prosperity is driven by diverse sectors, including tourism, finance, and technology. As a major tourist destination, Cape Town attracts millions of visitors annually, generating substantial revenue. The city is also a hub for innovation, with a growing number of tech startups and research institutions. Its world-class infrastructure, including the Cape Town International Airport and efficient public transport systems, further cements its status as an affluent city.
3. Cairo, Egypt
Billionaires: Nassef Sawiris, Naguib Sawiris, Mohamed Mansour, Yassen Mansour and Youcef Mansour
Centi-millionaires: 30
Millionaires: 7200
Cairo, one of the world’s oldest cities, seamlessly blends historical significance with modern economic vitality. The city’s economy thrives on tourism, industry, and technology. Notable infrastructure projects, such as the New Administrative Capital, underscore Cairo’s growth ambitions. Its bustling markets, cultural landmarks, and strategic location make it a magnet for trade and investment, further enhancing its affluence.
4. Nairobi, Kenya
Centi-millionaires: 10
Millionaires: 4400
Nairobi’s status as a regional economic hub is undeniable. The city is a leader in technology, finance, and entrepreneurship, earning it the nickname “Silicon Savannah.” Nairobi is home to numerous multinational corporations and startups, driving innovation and job creation. Infrastructure projects like the Nairobi Expressway and the expansion of Jomo Kenyatta International Airport highlight the city’s growth trajectory.
5. Lagos, Nigeria
Billionaires: Aliko Dangote, Mike Adenuga, Folorunsho Alakija and Femi Otedola
Centi-millionaires: 12
Millionaires: 4200
As Africa’s largest city, Lagos is the heartbeat of Nigeria’s economy. It boasts a dynamic business environment, with significant contributions from the oil and gas industry, finance, and entrepreneurship. Lagos’ Eko Atlantic City project exemplifies its commitment to infrastructure development and urban planning. Despite its high cost of living, the city continues to attract investors and professionals from around the world, solidifying its position as a leading economic center in Africa.
6. Cape Winelands, South Africa
Billionaires: Johann Rupert and Koos Bekker
Centi-millionaires: 16
Millionaires: 3,600
South Africa’s Cape Winelands blends natural beauty with economic vitality, anchored by centuries-old vineyards and upscale estates. The region drives South Africa’s $3-billion wine industry, attracting affluent tourists and investors. Towns like Stellenbosch and Franschhoek boast luxury hospitality, fine dining, and heritage-rich architecture, reinforcing the Winelands’ status as both a lifestyle haven and high-value economic hub.
7. Durban, Umhlanga & Ballito, South Africa
Centi-millionaires: 11
Millionaires: 3,500
Durban, along with its upscale suburbs Umhlanga and Ballito, stands among Africa’s most affluent regions. Anchored by strong tourism, logistics, and real estate sectors, the area boasts modern infrastructure, luxury estates, and a thriving business climate. Its coastal charm, coupled with high-end amenities and growing investor interest, positions it as a key node of South African affluence.
8. The Garden Route, South Africa
Centi-millionaires: 5
Millionaires: 3,200
South Africa’s Garden Route, stretching along the country’s southeastern coast, blends natural splendor with economic vitality. Anchored by towns like George and Knysna, the region draws tourists and retirees alike, boosting real estate, hospitality, and eco-tourism. With lush forests, coastal cliffs, and modern infrastructure, the Garden Route stands as a premier destination for lifestyle investment and sustainable development.
9. Casablanca, Morocco
Billionaires: Othman Benjelloun, Aziz Akhannouch
Centi-millionaires: 10
Millionaires: 2,800
Casablanca is Morocco’s economic powerhouse, with a strong presence in finance, industry, and tourism. The city’s modern skyline, anchored by the iconic Hassan II Mosque, symbolizes its affluence. Casablanca Finance City, a leading financial hub, attracts global businesses and investors. Its strategic location on the Atlantic coast and advanced infrastructure makes it a critical player in Africa’s economic landscape.
10. Pretoria, South Africa
Centi-millionaires: 2
Millionaires: 2,100
A center of governance and academia, Pretoria stands out for its modern infrastructure, diplomatic presence, and high standard of living. Known for its leafy suburbs and cultural landmarks, the city thrives on public sector employment, education, and services. Its stability, affluence, and proximity to Johannesburg enhance its appeal as one of Africa’s most prosperous capitals.
11. Accra, Ghana
Centi-millionaires: 4
Millionaires: 1,900
Accra is a vibrant city with a rapidly growing economy. Driven by sectors such as oil and gas, finance, and real estate, Accra has become a preferred destination for investors and expatriates. The city’s cultural richness and modern amenities, including luxury hotels and shopping centers, contribute to its allure. Infrastructure projects like the Marine Drive Tourism and Investment Project are transforming Accra into a world-class city.
12. Luanda, Angola
Centi-millionaires: 3
Millionaires: 1,500
Luanda, Angola’s capital, is one of Africa’s wealthiest cities, thanks to its oil-driven economy. The city’s skyline is dominated by modern skyscrapers, luxury hotels, and upscale shopping centers. Despite challenges like income inequality and high living costs, Luanda’s infrastructure development and economic potential make it a standout city on the continent.
13. Marrakech, Morocco
Billionaires: Anas Sefrioui
Centi-millionaires: 12
Millionaires: 1,400
Marrakech, Morocco’s bustling imperial city, blends ancient charm with modern luxury. Famed for its vibrant souks, upscale riads, and thriving tourism sector, the city is a magnet for global investors and high-net-worth travelers. Booming hospitality, real estate development, and cultural appeal position Marrakech as a top-tier North African destination, contributing significantly to Morocco’s economic diversification and global allure.
14. The Whale Coast, South Africa
Centi-millionaires: 5
Millionaires: 1,200
South Africa’s Whale Coast, stretching from Gordon’s Bay to Gansbaai, blends natural splendor with rising affluence. Renowned for seasonal whale sightings, the region also attracts high-net-worth individuals seeking serene coastal living. With luxury real estate, boutique wineries, and eco-tourism booming, the Whale Coast is fast becoming a prime destination for both leisure and long-term investment.
15. Windhoek, Namibia
Centi-millionaires: 2
Millionaires: 1,200
Windhoek, Namibia’s capital, blends German colonial charm with a growing commercial center. As the administrative and economic heart of the country, it’s attracting investment in mining, tourism, and infrastructure. With improving connectivity, rising middle-class consumption, and a stable political climate, Windhoek is positioning itself as a strategic entry point for business and trade in Southern Africa
