South Africa continues to dominate Africa’s wealthiest cities, accounting for six of the continent’s 10 leading millionaire hubs, according to The Africa Wealth Report 2026. Johannesburg ranks first with 11,500 millionaires, followed by Cape Town with 9,700. Beyond the rankings, the data shows fortunes moving in different directions. While some cities have recorded substantial growth, others have experienced decline. For instance, Cape Town has surged 35%. Cape Winelands, which posted the fastest growth among the top 10, has seen its millionaire population up 55% over the past decade. In contrast, Johannesburg and Lagos have both recorded declines, with Lagos posting the sharpest contraction among the top 10 cities. The figures highlight changing patterns of wealth accumulation across Africa, offering insights into which cities are attracting and retaining affluent residents and which are struggling to maintain their wealthy populations.
