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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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