Sandton makes list of top 10 most expensive areas in Africa
It wasn't the only SA representative on the list...
South Africa might have its struggles, but as it turns out it's a hub for a certain kind of wealth.
Henley & Partners have released their The Centi-Millionaire Report for 2023 which "includes exclusive statistics on centi-millionaires provided by global wealth intelligence firm New World Wealth".
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Centi-millionaires are defined as "The number of individuals with investable assets greater than $100 million more than doubled in the past two decades".
There are currently 28,420 centi-millionaires in the world as of June 2023, making it a pretty elite club.
The report also included a specific look at this club in Africa and South Africa has claimed most of the spots on the list.
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Here is the list of The 10 Most Expensive Cities for Centi-Millionaires in Africa:
Important notes in the report included that Africa has the youngest and fastest-growing population, which means the continent has the greatest potential for investment prospects.
There are also, at the time of publishing, 23 billionaires, 328 centi-millionaires, and 138,000 millionaires living in Africa and the 'Big 5' wealth markets are Morocco, Nigeria, Egypt, Kenya, and South Africa.
If anything, this report signals a sign of hope that South Africa is not yet lost and that our country still has a lot of potential.
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Main image courtesy of iStock/Arnold Peterson