SA Holds Top Spot as Africa’s Millionaire Capital Despite Decline

JOHANNESBURG — 1 January 2025

South Africa hosts more millionaires than any other African country with 41,100 individuals holding at least $1 million in investable assets, according to Henley & Partners’ Africa Wealth Report 2025. These account for 34% of the continent’s millionaire population — nearly matching the combined total of Africa’s next five wealthiest nations.

The country has recorded a 6% drop in millionaires over the past decade, losing 2,466 individuals meeting this wealth threshold. (Henley & Partners’ Africa Wealth Report 2025)

Johannesburg leads nationally with 11,700 millionaires, primarily concentrated in Sandton and the city’s affluent northern suburbs. (Henley & Partners’ Africa Wealth Report 2025)

Cape Town follows with 8,500 millionaires and claims the continent’s highest prime-property pricing at an average of $5,800 per square metre. This includes luxury neighbourhoods such as Clifton, Camps Bay, Constantia, Fresnaye, and Bantry Bay. (Henley & Partners’ Africa Wealth Report 2025)

South Africa also holds 112 centi-millionaires (each with $100m+ in assets) and 8 billionaires (each with $1bn+). (Henley & Partners’ Africa Wealth Report 2025)

Editor’s note: The report’s specific release date was not available in the input; 1 January 2025 is used as an approximation.