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.
Analysis: Milton Nkosi, BBC News, Johannesburg
It may come as a surprise to many that Johannesburgh as more than twice the number of dollar millionaires as Lagos, the economic hub of Nigeria, Africa's most populous nation and its number one economy.
However, Nigeria became Africa's largest economy only recently, whereas SouthAfrica has been at the helm for as long as I can remember and remains the most industrialised economy in Africa.
Being a citizen of the"city of gold", as Johannesburg is known in local languages, I can see the money every day.
South Africa's current economic problems has not prevented the emergence of new black industrialists.
Economist Owen Nkomo and founder of Inkunzi Investments, told me that old money from the Johannesburg Stock Exchange companies, which is largely still in white hands 21 years after the end of apartheid, has been wisely re-invested.
But he also points to the government's Black Economic Empowerment scheme, aimed at redressing the imbalances of white minority rule, as a key driver of the growing number of black millionaires.
I have seen for myself in places like Soweto when the new black bourgeoisieflaunt their wealth on Vilakazi Street, where Nelson Mandela once lived, over the weekend. But I have also seen the vast properties in Cape Town owned by white families.
All of this must not deludeus, so we forget the plight of the poor majority.
South Africa with all its wealth still faces huge problems of unemployment, inequality and poverty. And that should give all of sleepless nights as we celebrate Africa's wealth growth.

Source: www.bbc.com/news/world-africa-34138610

Top 10 African countries ranked by millionaires (2012)
RANK COUNTRY NUMBER OF MILLIONAIRES
1. South Africa
48,800
2. Egypt 23,000
3. Nigeria 15,900
4. Kenya 8,400
5. Angola 6,400
6. Tanzania 5,700
7. Libya 6,400
8. Tunisia 6,500
9. Morocco 4,900
10. Algeria 4,100

www.howwemadeitinafrica.com/which-african-countries-have-the-most-millionaires/29318/

The most important thing is we av dangote

MISSNORA:
The most important thing is we av dangote

You forgot me

SirWere:
You forgot me

hmmmm can I even recall u?

Ok. So, how does this list improve the lives of the poor ones in those countries? Who the list help?

MISSNORA:
The most important thing is we av dangote

yes, we have dangote who would prefer to buy Arsenal than invest in our local clubs! Yes, we should be proud we have him!

Op@ This publication was done 2012, please how can we see the 2014/2015 publication because Port Harcourt should be on that list and should be first on the list before Lagos according to what we red on this forum sometime ago, the publication by Forbes magazine says Port Harcourt have more millionaires in Dollars than Lagos.

MISSNORA:
hmmmm can I even recall u?

touche

StCapital:
Op@ This publication was done 2012, please how can we see the 2014/2015 publication because Port Harcourt should be on that list and should be first on the list before Lagos according to what we red on this forum sometime ago, the publication by Forbes magazine says Port Harcourt have more millionaires in Dollars than Lagos.

Hmmm. thats interesting. Pls can you Post the publication from Forbes that showed P/Harcourt having more millionaires. I seriously doubt it. Anyways, its The second Write-up dat was done in 2012. The first by BBC is more recent I think

I do not know how they arrived at this but its way below the true reflection of Nigerian millionaires. Anyone worth 200million Naira is a millionaire.

another reason to hustle hard!!! Surely 200 million is very possible!! Naija must carry first for Africa! #GiantThings #GodBlessMyHustle #ImpactLiving