Friday, September 04, 2015

Africa's Rich

According to a study done by AfrAsia Bank and New World Wealth, 163,000 millionaires live on the continent of Africa with a combined wealth of $670 billion (£440bn). The study defines millionaires as persons with net assets worth at least $1m (£650,000).

Thirty per cent of Africa's millionaires reside in South Africa. The South African city of Johannesburg, known as "the city of gold" tops the list as 23, 400 millionaires reside there. South Africa beat all other African countries with three other cities in the top ten: Cape Town (8,900), Durban (2,700) and Pretoria (2,500, according to the report.

Cairo in Egypt had the second most millionaires (10,200), while Lagos, Nigeria had the third most (9,100). 

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