South Africa has the highest number of dollar millionaires in Africa, according to a new report.
According to a report by AfrAsia Bank and New World Wealth, Johannesburg alone, known as the “city of gold”, is home to 23,400 millionaires. South Africa has 30% of the total.
Egypt’s Cairo comes second with 10,200, with Nigeria’s Lagos third with 9,100.
The study defines millionaires as people with net assets worth at least $1m (£650,000).
It estimates there are close to 163,000 millionaires living in Africa, with a combined wealth of $670bn (£440bn).
The number of millionaires is rising fastest in Ghana’s capital, Accra, the report said, even though at the moment, with 2,300, it does not make the top five.
After Lagos, comes Cape Town with 8,900 and Nairobi with 6,200.