Sandton makes list of top 10 most expensive areas in Africa
Updated | By The Drive with Rob and Roz
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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