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World’s Wealthiest Cities 2023 Report Reveals where Africa’s Millionaires Reside

As the world’s economy continues to develop, the number of millionaires has also increased over the years. With their wealth, these individuals can invest in businesses, properties, and other ventures, thus contributing to the growth of cities and economies worldwide. The presence of wealthy individuals in a city can have a significant impact on the local economy and community. The World’s Wealthiest Cities Report 2023’s data on high-net-worth individuals contains the majority of the top wealth centers globally and spans 97 cities in nine continents (Africa, Australasia, CIS, East Asia, Europe, the Middle East, North America, South Asia, and Southeast Asia). The company keeps track of the whereabouts and spending patterns of approximately 150,000 high-net-worth people in its database (with a focus on those with more than USD 10 million in investable assets). Kigali, Marrakech, Mombasa, Accra and Swakopmund are some of the African cities featured on the list.